Cash Threshold Reporting (CTR)

What are the mandatory information of CTRs?

• Information of the Person Conducting Transaction (PCT)

• Source of Fund

• Purpose of Withdrawal

• Purpose of the Transaction

Which of the following statements best describe the threshold of CTRs?

• A single cash transaction carried out by the PCT within a day, with an amount less than RM25,000

• A single cash deposit transaction carried out by the PCT within a week, with an amount less than RM50,000

• A single or multiple cash transactions carried out by the PCT within a day, with an amount equivalent to RM25,000 and above

• A cash and/or non-cash transactions carried out by the PCT within a day, with an amount equivalent to RM50,000 and above, alone or when aggregated

Complete the sentence.

Customer Due Diligence (CDD) is to be performed

• during end of day when performing cash balancing

• after the cash transaction is entered into the system

• before the cash transaction is entered into the system

• after the PCT has left the branch

What is the best practice when handling CDD?

• Input CDD information according to the previous CDD record

• A fresh CDD must be performed for every cash transaction made

• Input CDD information based on your own banking experience

• Refer to the employment information in BWCIF to determine the CDD

____ and ____ is to be recorded by the branch

• Source of Wealth, Source of Fund

• Source of Fund, Purpose of Transaction

• Source of Fund, Source of Withdrawal

• None of the above

Mr A brings in cash of RM30,000 to deposit into his CAS account. Select the correct description of the source of fund for the cash deposit transaction

• Transfer in for better rate

• Cash Contra

• Loan

• Transfer fund Bank XYZ own account for trade settlement

Is the annotation input under Source of Fund as "business/business proceeds" accurately describe the source of cash deposit is from customer's sales collection?

• Yes it is acceptable since the customer declaration is rational

• Yes, since the customer declared as such

• No, attending staff need to probe further with the customer on the "Purpose of Transaction"

• No, attending staff need to probe further with the customer on the "Nature of Business", and "Period of Sales Collection"

In the event a customer informed that the source of funds/purpose of withdrawal of a cash transaction is loan to/from his family member, what is your next course of action?

• Probe further with customer for a more descriptive purpose/source of the borrowing/lending

• Input the declared CDD information and ask for officer's overriding

• Reject the cash transaction even though proper CDD is performed

• Make own assumption of the purpose/source of the borrowing/lending and proceed to input into the system

Which of the following scenarios may be deemed as suspicious transaction?

• Personal account use for business purpose

• Account activity does not commensurate with the customer's known profile

• Funds received are withdrawn within a few days leaving low account balance

• Funds drawn down via structured cash withdrawals

Is the requirement to report suspicious activity through submission of QAR only limit to cash transactions?

• Yes

• No