Banking Exam

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A customer makes three separate cash deposits of $4,000, $5,000, and $3,500 into different branches of the same bank on the same business day. Which of the following actions is the bank required to take?

File a Suspicious Activity Report (SAR) for structuring. File a Currency Transaction Report (CTR) because the total exceeds $10,000. Advise the customer that their account will be closed due to suspicious activity. Do nothing, as no single transaction exceeded the $10,000 threshold.

Correct Answer:

File a Currency Transaction Report (CTR) because the total exceeds $10,000.

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