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WASHINGTON-The Financial Crimes Enforcement Network sought to clear up confusion about how to file currency transaction reports with guidance based on `Frequently Asked Questions.’ To help financial institutions better understand how to file currency transaction reports seven-question document. The guidance seeks to clear up when the reporting of transactions using foreign currency should be converted to US dollars and when to leave it alone. Additionally, it stated that `cash in’ and `cash out’ should be reported separately and not netted, but may be reported on a single CTR. The FAQ is available at www.fincen.gov. Financial services business must file CTRs for customer transactions over $10,000 with certain exceptions.

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