Why can't you leave the money in until you need to pay the CC bill(s)? Then they have your money for a little while at least.

Either way if I'm cycling my CL then I will need to pay this several times the month, meaning you can't leave a money out there for a month and then pay the CC. Instead of recycling the money in 3-4 days, it can be extended to 10-12 days, They will still see this, I think.

Then my suggestion is don't do this at all -- you clearly haven't set up the resources.

The SAR is filed with the Financial Crimes Enforcement Network (FINCEN).

Excellent source of informational. I spent the last two days clicking through the 79 pages. I found the first 30 to be most helpful, a few great dp from a couple posters that seemed familiar with the laws scattered through 30-60. Definitely worth the entire read. Thanks everyone for posting.

Correct, SARS are forwarded to FINCEN and agents from various law enforcement agencies that deal with financial crimes (e.g. FBI, USSS, DSS) go through them each month and make a decision as to whether or not to investigate further.

I have been informed by such agents that they only look at that month's SARs rather than looking at an individual over time. However, if an agency ever investigates you for a financial crime, they will pull all of your SARs and CTRs, although I am not sure how far back they look.

Not a CPA, definitely a criminal defense lawyer who is familiar with the Federal structuring/money laundering statutes.

If you are approached by law enforcement:
1. DO NOT LIE.
2. DO NOT tell them that you were making deposits in amounts less than $10,000 because you didn't want them to file a report/take the time to file a report/etc.
3. Even admitting that you know about the reporting requirements is not really in your best interests. Usually best to nicely explain that while all of your transactions are legitimate and all money is legitimate, you do not feel comfortable speaking to them without a lawyer present as you would not want to make a statement that was unclear and open to erroneous interpretation. If they say, 'if you are not hiding anything then you have nothing to fear from talking to us' note that 'since I am not doing anything illegal, you have no reason to ask me questions as if I were a criminal.' :)

Nicely said.

Although, I have a feeling that after delivering that line, The Cop With The Doughnut will quickly disappear, and The Bad Cop will make his presence known.

. . . and throw a chair through the window on the infinitieth floor. ;)

I hope they leave the donut... it may take a while.

whats best, deposit mo's in a personal account, or a business account specifically for churning?

A brand new account that suddenly starts getting a lot of MO deposits is a good candidate for being shut down. I think it really depends on your bank and what your relationship with them is like.

Andyandy

^

FWIW, even if my CUs are all MS friendly, I still "seasoned" my accounts and got to know tellers in the branch before I ramped up. So far, so good.

Had an agent come to my door. Was really surprised, but apparently a bank called them about me. I was completely upfront and honest about what I was doing even showing them a copy of CC statement. They seemed nice about it, but was definitely a scary experience. Hopefully nothing else comes from this. Shame it actually happened right at the end of when I am doing volume MS. Mentioned to me that they were going to be visiting some others in the area to ask similar questions.

expect your now non-criminal investigation to be transferred to the IRS.