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Aug 6th, 2022
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How to Delete Currency in the Acknowledgment Of Modified Terms

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good afternoon everyone um this is john green hall im here with my partner lisa wampler were both members of the cohen seglius contract review and and risk management group here at uh again cohens ugliest today were going to be presenting payment terms a trap for the unwary this is our second of four ccrm webinars for this year if you have any questions during the course of the webinar there is a question and answer drop down that you can simply type your question in and we will try to answer as we go along rather than waiting until the end uh in addition we will be sending you a copy of the slide deck and if you have any questions after you receive that please feel free to contact lisa or myself uh with that said lets get into this as i said my name is john greenhall im here with lisha wampler and we are your presenters today the topics that were going to cover over the next hour involve basically five traps that arise out of your contracts and your payment terms in those contr

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Structuring your transactions to dodge a CTR can result in imprisonment for up to five years and/or a fine of up to $250,000. If you are found guilty of structuring more than $100,000 over a twelve-month period or if you violated another law at the same time, the penalty is doubled.
Transaction examples that necessitate a CTR A person deposits $11,000 in currency to his savings account and withdraws $3,000 in currency from his checking account. The CTR should be completed as cash In $11,000 and no entry for Cash Out. This is because the $3,000 transaction does not meet the reporting threshold.
0:51 7:38 How to Fill Out a Crew Time Report (CTR) - YouTube YouTube Start of suggested clip End of suggested clip For the fire name. And block 5 the fire number. The information on the resource. Order needs to beMoreFor the fire name. And block 5 the fire number. The information on the resource. Order needs to be accurately transferred to the CTR.
A CTR is a form used by banks or other financial institutions for any transaction greater than $10,000. The use of this form is mandatory in most cases whether the bank customer is withdrawing or depositing the funds. These CTRs are forwarded to federal regulators in their effort to combat money laundering.
Federal law requires financial institutions to report currency (cash or coin) transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. These transactions are reported on Currency Transaction Reports (CTRs).
A currency transaction report (CTR) is used to report to regulators any currency transaction that exceeds $10,000. The CTR is part of anti-money laundering efforts to ensure that the money is not being used for illicit or regulated activities.
A completed CTR must be electronically filed with FinCEN within 15 calendar days after the date of the transaction.
Transaction examples that necessitate a CTR A person deposits $11,000 in currency to his savings account and withdraws $3,000 in currency from his checking account. The CTR should be completed as cash In $11,000 and no entry for Cash Out. This is because the $3,000 transaction does not meet the reporting threshold.

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