Same would be required for 50M in cash not to mention Taxes.
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AllNewTypeFace@leminal.space 2 weeks agoIf the gold is in an accepted standard form, such as krugerrands, you just need to find a precious metals dealer. If it’s just a pile of gold, then there’s a lot of hassle. I imagine ingots of the sort national gold reserves hold would be somewhere in between.
Shifting a large quantity of gold may require a non-optional explanation of its provenance, with “I woke up and it was just there” or “a genie gave it to me after I did an online quiz” not being adequate, and an inadequate explanation resulting in its forfeiture if not more serious legal hassles. With a large pile of gold and no good explanation, you may be reduced to smurfing small pieces of it to different dealers, moving around a lot and avoiding the attention that such a pile would inevitably draw.
stupidcasey@lemmy.world 2 weeks ago
Mac@mander.xyz 2 weeks ago
You don’t think you’ll be investogated for a massive gold transaction?
StaticFalconar@lemmy.world 2 weeks ago
I wonder if i should pick the option that is going to make someone else rich off their commission, or just cash?
ShellMonkey@piefed.socdojo.com 2 weeks ago
People like Al Capone would have a few things to say about unverified sources of wealth in any form. Pretty sure if I show up at a car dealer with a briefcase of bills it’ll raise a few questions too.
wonderingwanderer@sopuli.xyz 2 weeks ago
Yet another way society is biased against the poor. A rich guy shows up with a briefcase full of money and nobody bats an eye, it’s just another day. A poor guy shows up with a briefcase full of money and then suddenly everyone starts asking questions, and if he doesn’t have good enough answers he might get thrown in jail.
What if I mowed a rich guy’s lawn and he gave me a really big tip? No, I don’t remember his name. No, I didn’t keep the address. It was over there somewhere, go that way, it’s the big house with the mown lawn. You’ll find it, just keep looking…
Railing5132@lemmy.world 2 weeks ago
US law requires any cash transaction of $10,000 or more be reported to the IRS/Treasury Dept. to include the federal tax ID # of both parties/entities, and the deposit accounts involved.
thethunderwolf@lemmy.dbzer0.com 2 weeks ago
5002 $9999 transactions
Redjard@reddthat.com 2 weeks ago
Structurization.
I know someone who worked in a software company that developed algorithms and systems for banks and gambling to detect these.
jojowakaki@lemmy.world 2 weeks ago
Yup that looks very normal to me. Probably looks nothing suspicious to your FBI agent either.
Angryhumanoid@fedinsfw.app 2 weeks ago
Depends on the dealership, heh