Which action is required when a transaction involves more than $10,000 in currency?

When a transaction involves more than $10,000 in currency, the requirement to file a Currency Transaction Report (CTR) stems from regulations aimed at preventing money laundering and other financial crimes. Financial institutions are obligated to report any cash transactions that meet or exceed this threshold to the Financial Crimes Enforcement Network (FinCEN). This process helps authorities monitor and analyze large cash movements which could indicate illicit activity.

Filing a CTR is essential for maintaining compliance with the Bank Secrecy Act (BSA). It provides a mechanism for law enforcement to track potential criminal behavior associated with large amounts of cash, thereby fostering transparency within financial systems. This regulatory step is crucial for ensuring that financial institutions play their part in combatting financial crimes.

The other actions mentioned, such as no action being required for regular customers or publicly disclosing the transaction, do not align with regulatory requirements nor do they adequately address the necessity of reporting significant cash transactions. Additionally, while review by senior management might be beneficial in some internal compliance frameworks, it is not a mandated action tied specifically to transactions exceeding the $10,000 mark.