Wire transferring more than $10,000
Jan 20th 2015, 10:57 pm
#16
L2, GC, Surrey, OH, TX!
Joined: Aug 2007
Location: Surrey to Dallas (via Ohio)!
Posts: 6,363
Re: Wire transferring more than $10,000
look up the banking secrecy act and the patriot act.
Yes they have to report it.
No 'reporting' it not an issue - they are looking for terrorist financing or money laundering - not everyday people's one off transactions.
BUT Yes you are committing a crime if you alter your payments to avoid reporting limits though (regardless if its for an innocent purpose) - thats called structuring!
Yes they have to report it.
No 'reporting' it not an issue - they are looking for terrorist financing or money laundering - not everyday people's one off transactions.
BUT Yes you are committing a crime if you alter your payments to avoid reporting limits though (regardless if its for an innocent purpose) - thats called structuring!
Jan 20th 2015, 11:45 pm
#17
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,446
Re: Wire transferring more than $10,000
look up the banking secrecy act and the patriot act.
Yes they have to report it.
No 'reporting' it not an issue - they are looking for terrorist financing or money laundering - not everyday people's one off transactions.
BUT Yes you are committing a crime if you alter your payments to avoid reporting limits though (regardless if its for an innocent purpose) - thats called structuring!
Yes they have to report it.
No 'reporting' it not an issue - they are looking for terrorist financing or money laundering - not everyday people's one off transactions.
BUT Yes you are committing a crime if you alter your payments to avoid reporting limits though (regardless if its for an innocent purpose) - thats called structuring!
Jan 21st 2015, 6:57 am
#18
BE Irregular
Joined: Jan 2004
Location: Tampa Bay Florida
Posts: 4,849
Re: Wire transferring more than $10,000
(I don't expect I have been taught the law, just how to interpret it)
