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1 Challenge The Outdoors, Inc W4276 City Rd G Black Creek, WI 54106 www.challengetheoutdoors.org or www.CTOforME.org Challenge The Outdoors, Inc. May 2005 Dedicated to Serving the Recreational Needs
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c h a l stands for Currency Transaction Report (CTR) and is a report that financial institutions must file with the Financial Crimes Enforcement Network (FinCEN) for any deposit, withdrawal, exchange of currency, or other payment or transfer involving more than $10,000 in cash.
Financial institutions such as banks, credit unions, and casinos are required to file c h a l.
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The purpose of c h a l is to help detect and prevent money laundering, terrorist financing, and other financial crimes.
c h a l requires information about the transaction, including the amount of cash involved, the individuals or entities involved, and the nature of the transaction.
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