By PAUL O’DONOGHUE, Senior Correspondent
A PROPOSAL to raise the threshold for CTRs (Currency Transaction Reports) in line with inflation is “populist”, an anti-financial crime expert has said.
Jim Richards, the CEO of anti-financial crime firm RegTech Consulting, said proposals to raise the $10,000 limit is a “lazy, knee-jerk, naive, populist approach to solving the problem of making BSA [Bank Secrecy Act] reporting more effective and efficient”.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
