Which of the following is NOT considered an acceptable form of identification for an individual when completing a CTR?
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A. B. C. D.B
The Currency Transaction Report (CTR) is a document used by financial institutions to report transactions over $10,000 in cash or currency. The purpose of the CTR is to assist law enforcement in detecting and preventing money laundering and other financial crimes.
When completing a CTR, financial institutions must obtain identifying information about the individual conducting the transaction. Acceptable forms of identification include a U.S. passport, state-issued photo identification (such as a driver's license), and a photo identification card issued by a local government agency.
However, a long-term deposit account relationship is not considered an acceptable form of identification for an individual when completing a CTR. This is because a long-term deposit account relationship does not provide sufficient information to verify the individual's identity.
In summary, the correct answer is B. Long-term deposit account relationship is NOT considered an acceptable form of identification for an individual when completing a CTR.