Money Laundering: Characteristics of Currency Transaction Reports Filed
in Calendar Year 1992 (Fact Sheet, 11/10/93, GAO/GGD-94-45FS).

Banks accounted for virtually all of the 9 million currency transaction
reports filed in 1992.  The reports described about $418 billion in cash
transactions by companies and individuals. More than half of the reports
were for transactions of $20,000 or less.  Businesses--more than 364,000
in all--accounted for upwards of 90 percent of the reports filed and for
$412 billion of the total dollar amount of the transactions reported.
When a report cites more than one business or individual, a separate
record is established in the databases for each entity shown on the
report. The 8.2 million reports filed on businesses produced 9.2 million
records.  The 100 businesses listed on the most reports during
1992--primarily chain stores and restaurants--accounted for 13 percent
of these records.  Treasury regulations allow banks to exempt certain
types of businesses from reporting transactions that do not exceed a set
dollar limit.  Data on the number of businesses exempted are
unavailable.  But 1.2 million of the 9.2 million records from 1992
resulted from transactions that exceeded the dollar limit on exemptions.
In addition, Internal Revenue Service officials estimated that as many
as 40 percent of all reports filed could qualify for exemptions.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  GGD-94-45FS
     TITLE:  Money Laundering: Characteristics of Currency Transaction 
             Reports Filed in Calendar Year 1992
      DATE:  11/10/93
   SUBJECT:  Money laundering
             Financial institutions
             Financial management systems
             Electronic funds transfer
             White collar crime
             Fraud
             Financial disclosure reporting
             Information disclosure
             Reporting requirements
             Currency and coinage
IDENTIFIER:  Treasury Currency Transaction Report
             
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