U.S.
Law Lets I.R.S. Seize Accounts on Suspicion, No Crime Required By SHAILA DEWAN
Using a law designed to help catch drug traffickers, racketeers and terrorists by tracking their cash, the government has gone after run-of-the-mill business owners and wage earners.
My wife was a banker for years. There's a story going round that the banks don't report anything a customer deposits that's under 10,000. It's not true. The banks are required to report any and all 'suspicious' transactions. Suspicious could mean you deposit x amount of money on a weekly basic. Then, every few weeks, you start making deposits in the low thousands. Odds are great those deposits are being reported.
Withdrawals in large amounts of cash, particularly by older folks, will also be alerted to. It will be discussed immediately by the teller and branch manager while the customer is still there. The manager will talk to the customer, gently, to see if they can get them to tell why they need the money, and to look at their overall demeanor. Nobody can be forced to say anything about their own money, and banks don't force it. But once in a while, a BG enters into the picture. Most here will probably say it's nobody's business. But if a person is being victimized, I think it's a good thing somebody is trying to look out for them. Older folks tend to be open for most scams.
Using a law designed to catch drug traffickers, racketeers and terrorists by tracking their cash.
It's those folks who tend to believe anything under 10k is safe to move around. Not.
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Related Threads
?
?
?
?
?
The Firearms Forum
2.2M posts
71K members
Since 2003
A forum community dedicated to all firearm owners and enthusiasts. Come join the discussion about optics, hunting, gunsmithing, styles, reviews, accessories, classifieds, and more!