CFTRACamden Federation of Tenants and Residents Associations (UK)
CFTRACurrency and Foreign Transactions Reporting Act
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Congress laid the foundations of the federal anti-money laundering (AML) framework in 1970 when it passed the BSA, (8) the major money laundering provisions of which make up the Currency and Foreign Transaction Reporting Act (CFTRA).
Under CFTRA, financial institutions must file reports for cash transactions exceeding the amount set by the Secretary of the Treasury in regulations.
CFTRA contains significant requirements related to foreign-based monetary transactions.