Originally Posted by UAL_Rulez
Hah, that's called "structuring" in AML (anti money laundering) jargon - breaking up a reportable payment into several transactions just below the reporting threshold. It's still illegal if done for nefarious reasons, and it's also an offense for the receiving party (if required to have AML procedures) not to detect such a pattern, and report it to OFAC or law enforcement where appropriate.
Hah! That's hilarious, really. I never took part in that, I only knew about it. Now that I know the facts of the matter it makes me laugh to think how often this went on and how I'm sure it still goes on all over the place.