Overview of the FTR Act

Objectives

In this module we will address the following questions:

• What is the purpose of the FTR Act?
• To whom does the FTR Act apply?
• What are the key requirements of the FTR Act?
• Who administers the FTR Act?
• What types of transactions must be reported?
• What are significant cash transaction reports?
• What are international funds transfer instructions?
• What are suspect transaction reports?
• What are the key ‘know your customer’ (KYC) obligations?
• What are the key document retention obligations?

Your key learning objectives will be to respond effectively to each of the questions listed above.