It is similar in the US, except we call it a currency transaction report [0]. Because the amount — $10,000 — is not indexed to inflation, these reports are extremely numerous, mostly automated, and are almost entirely useless — beyond conveying the ability to charge ordinary people with structuring [1].

[0]: https://en.wikipedia.org/wiki/Currency_transaction_report

[1]: https://en.wikipedia.org/wiki/Structuring

> beyond conveying the ability to charge ordinary people with structuring [1].

It doesn't, lol. Structuring is when you make several smaller transactions to avoid a CTR. If a CTR was created, you aren't structuring. And if you are structuring, a CTR isn't created.