Originally Posted by
radonc1
My bolding
What you are suggesting in the bolded area is also illegal. It is considered
"structuring"
What is considered structuring?
“Structuring” is defined as conducting one or more transactions in currency, in any amount, at one or more financial institutions, on one or more days, in any manner, for the purpose of evading reporting requirements.
Yes…that definition is the reasoning behind stores not letting u buy large sums MO…..but the real money launderers are who the law is aimed at …they buy large sums of MOs to “clean” the $$$ n then just deposit into a bank account. Usually tho structuring is prosecuted as knowingly depositing less than $10k specifically to avoid the $10k reporting…like at several different banks or accounts on different days. That’s what the launderers do cause they are huge sums they are laundering…drug $$$ mostly. FinCen is mostly interested in illegally obtained $$$ being laundered but there are stories of small businesses having bank acct taken with deposits of less than $10k daily or weekly.