EFTA Document EFTA01368067

Notice to Customers: A CTR Reference Guide Why is my financial institution asking me for identification and personal information? Federal law requires financial institutions to report currency (cash or coin) transactions over $10,000 con ducted by, or on behalf of, one person, as well as mul tiple currency transactions that aggregate to be over $10,000 in a single day. These transactions are reported on Currency Transaction Reports (CTRs). The federal law requiring these reports was passed to safeguard the financial industry from threats posed by money laundering and other financial crime. To comply with this law, financial institutions must obtain per sonal identification information about the individual conducting the transaction such as a view-jai Security number as well as a driver's license or other govern ment issued document. This requirement applies whether the individual conducting the transaction has an account relationship with the institution or not. There is no general prohibition against handling large amounts of currency and the filing of aCIR is required regardless of the reasons for the currency transaction. The financial institution collects this information in a manner consistent with a customer's right to financial privacy. Can I break up my currency transactions into multiple, smaller amounts to avoid being report- ed to the government? No. This is called "structuring." Federal law makes it a crime to break up transactions into smaller amounts for the purpose ofevading the CTR reporting require merit and ads may lead to a required disclosure from the financial institution to the government. Structur ing transactions to prevent a CTR from being report ed can result in imprisonment for not more than five years and/or a fine of up to $250,000. If structuring in volves more than $100,000 in a twelve month period or is performed while violating another law of the United States, the penalty is doubled. 0 www.fincen.gov CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0059725 CONFIDENTIAL SDNY_GM_00205909 EFTA01368067