Definition:
A Large Cash Transaction Report (LCTR) is a report that financial institutions and MSBs must submit to FINTRAC when a customer conducts a cash transaction of CAD 10,000 or more in a single transaction or multiple related transactions within 24 hours.

Contextual Explanation:
LCTRs help regulators monitor potential money laundering and terrorist financing activities. Businesses must have robust record-keeping and transaction monitoring systems to detect large cash movements.

Why It Matters:
Large cash transactions can indicate illicit financial activities. Compliance with LCTR regulations ensures transparency and reduces the risk of regulatory violations.

Example:
A customer deposits CAD 12,500 in cash at a currency exchange. The business is required to submit an LCTR to FINTRAC.