In the United States, banks are required to file a Currency Transaction Report (CTR) for every cash transaction—including deposits, withdrawals, or exchanges—that exceeds $10,000. However, this reporting requirement specifically applies to physical currency (cash). It does not apply to routine electronic transfers, wire transfers, or check deposits that exceed this amount, as these transactions already create a digital trail that is inherently documented by the financial institution. The purpose of the CTR is specifically to create an audit trail for the movement of physical cash, which is otherwise anonymous, thereby helping federal agencies detect money laundering, tax evasion, and other illicit financial activities.