Posted by Dean [208.93.180.75] on Saturday, September 26, 2015 at 12:37:21 :
In Reply to: Cash in the mail posted by Bob T [172.89.131.7] on Saturday, September 26, 2015 at 12:17:32 :
Banks must report transactions that are less than $10,000 when they believe that the dollar amount of those transactions was specifically chosen to avoid triggering the Bank Secrecy Act. Federal regulations refer to these as "structured" transactions. Withdrawing $9,990 will probably raise a red flag as a potentially structured transaction. In fact, any transaction, regardless of the amount, that the bank deems suspicious can trigger a report.
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