Comment on Title
Railing5132@lemmy.world 1 week agoUS 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.
Comment on Title
Railing5132@lemmy.world 1 week agoUS 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 1 week ago
5002 $9999 transactions
Redjard@reddthat.com 1 week ago
Structurization.
I know someone who worked in a software company that developed algorithms and systems for banks and gambling to detect these.
sp3ctr4l@lemmy.dbzer0.com 1 week ago
Yep.
Literally pulling out $9,999 instead of $10,000… that in and of itself is a crime, even if you’re not actually doing anything funny with it.
42firehawk@fedinsfw.app 1 week ago
Not necessarily, it’s a crime to deposit 9999 instead of 10 and not report. When I worked at a bank anyone who knew what they were doing and deposited 8-9k in cash got the form. People who found out and then did anything else? You get a form. People who walk out? They get a surprise notice from the fbi later.
Basically if the bank thinks you might be close we just give you the form and you don’t get to say no anymore.
jojowakaki@lemmy.world 1 week ago
Yup that looks very normal to me. Probably looks nothing suspicious to your FBI agent either.