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re: Let's talk money laundering
Posted on 12/7/18 at 11:36 am to deltaland
Posted on 12/7/18 at 11:36 am to deltaland
quote:
Also a bank isn’t required to report deposits of less than 10k.
You can open up accounts at 5 different small banks and deposit 5-7 grand every couple weeks and it won’t be reported.
Yes it will. Intentionally avoiding the $10k threshold is a federal crime.
1
Posted on 12/7/18 at 12:05 pm to VADawg
quote:
Yes it will. Intentionally avoiding the $10k threshold is a federal crime.
Agreed; however, 5-7K every couple of weeks likely wouldn't trigger for structuring, but would likely trigger for unexplained high cash volumes. Either way I agree that depositing 5-7K in cash regularly will most definitely get you caught.
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