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A single cash transaction exceeding $10,000 is an obvious candidate for a CTR, but when cash activity is conducted in small amounts or across multiple accounts and branches, accurate CTR reporting can be both difficult and costly. Now, with Banker’s Toolbox™ CTR Manager,™ you have the technology to comprehensively aggregate cash transactions and file required reports, without impacting the flow of operations.
CTR Manager™ Streamlines Your Regulatory Compliance.
- Merges the transaction information imported from your host and teller system, as well as from various non-traditional sources, such as armored car deposits
- Aggregates cash transactions for a single customer across multiple accounts, branches, institutions, and charters
- Tracks progress of all currency transaction reports from preparation to filing
- Automatically generates a permanent audit log of every step taken by staff members as the transaction is researched, evaluated, and reported
- Allows you to quickly search for specific CTR records during the entire processing life cycle
- Captures new conductors and beneficiaries at the point of branch activity (using the web-based Branch Module)
- Remembers previous conductors and beneficiaries on an account, streamlining the completion of CTRs and eliminating unnecessary input
The Financial Industry’s Most Powerful Aggregation Engine
Aggregate cash transactions by:
- Account Number
- Signer TIN
- Conductor
- Primary TIN
- Customer
- Beneficiary
- Other known relationships (e.g. owner of multiple businesses
When a customer conducts one or more large cash transactions from one or multiple locations in a single business day:
- The branch inputs conductor and beneficiary information that will be sent to the back office for filing of the CTR (using the web-based Branch Module)
- CTR Manager aggregates CTR suspects and automatically populates any available information from the core system to simplify the CTR preparation process
 BAM Server stores the data for tracking, aggregating, and retrieving transactions & CTR information.
Once all of the required information is gathered, the compliance department can determine whether to file the report.
From the back office, CTRs can be e-filed individually or in batch mode.
Putting CTR Manager™ Into Action
Banker’s Toolbox™ CTR Manager™ module gives financial institution staff an automated process for collecting information on large cash transactions and easily completing FinCEN Form 104 when such transactions meet the Currency Transaction Report filing requirements.
CTR Manager™ Step-by-Step
 Review Suspects
Upon entering the CTR Manager™ module, a summary calendar is displayed, showing all daily CTR activity. All transactions are automatically aggregated from the data in the overnight processing system.
By clicking on a particular CTR Suspect, you can immediately see its related transaction details. Other transactions can be added, linked, or unlinked from the suspects with the click of a button. The software maintains integrity by keeping track of the links so a staff member cannot inadvertently attribute the same cash transaction to different suspects. CTR Manager™ will remember previous conductors and beneficiaries on an account, which streamlines the completion of CTRs and eliminates unnecessary input.
Process a CTR
Once sufficient evidence has been collected, the aggregate information can be moved to a “CTR in Progress” status and processed accordingly. If your institution uses the Branch Module,the back office staff can request additional information from the submitting branch. Most fields of FinCEN Form 104 can be reviewed and updated on simple input screens, including:
- Beneficiaries and conductors of the transaction*
- Transaction information, including cash in/cash out, wire transfer or foreign currency
- Financial institution details, including branch ID, routing number and contact person
- Notes added by staff members during the report initiation and review cycle
*Conductor/Beneficiary information is captured using CTR Branch Module
File a CTR
After the required information has been gathered, the CTR can be marked “Ready to File.” From here, it can be sent to the IRS.
Track a CTR
The status of CTRs that have been submitted to the IRS can be tracked in the module, so you can indicate whether they have been acknowledged, accepted, amended, or are waiting for further action before they can be processed. Corrections are easy to make by going back to one of the processing screens and then re-filing.
Contact Us Today
Keeping all of your large cash transaction information in one place not only speeds processing and makes compliance easier, but also helps avoid costly errors. When you partner with Banker’s Toolbox,™ you can be assured of proven performance and top customer support. Let us help you streamline your regulatory compliance today. |
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