On October 21, 2025, the Senate proposed a bill that would raise the reporting thresholds for currency transaction reports and suspicious activity reports. If enacted, the bill would require the Treasury Department to adjust the thresholds for inflation every five years.
The Bank Secrecy Act requires financial institutions to file Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs) for transactions that exceed specific dollar thresholds. The Streamlining Transaction Reporting and Ensuring Anti-Money Laundering Improvements for a New Era Act (STREAMLINE Act), introduced by Senate Banking Committee Chairman Tim Scott (R-S.C.), Sen. John Kennedy (R-La.), and seven other senators, seeks to modernize those requirements by raising the CTR threshold from $10,000 to $30,000 and increasing certain SAR thresholds from $2,000 to $3,000 and from $5,000 to $10,000.
Read the Senate’s press release here.