Introductory BSA/AML Examiner School, Providence, RI

CTR Exemptions

• Two types of exemptions

• Phase I (Banks, government agencies, companies listed on the stock exchange, etc.)

• Phase II (Non-listed businesses or payroll customer)

CTR Exemptions

Phase I • Designation of Exempt Person (DOEP) report

Phase I Annual Review • Information supporting certain designation of exemption must be reviewed and verified by the bank for at least once per year.