Posted: 8/2/2015 11:41:32 PM EDT
[#27]
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IRS is what I meant, yes. Shit, it's not even 10k anymore?
Pretty soon they will get rid of cash altogether so it is no longer an "issue?
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Meanwhile, back in the US we can't take 10 grand out of the bank without it being reported to the Ministry of Stealing Our Money Is that IRS? SAR's are filed for far less than that now. I think 10k was pre 9/11. IRS is what I meant, yes. Shit, it's not even 10k anymore? Pretty soon they will get rid of cash altogether so it is no longer an "issue? Yup. Reports are sent to FinCEN It has been a while since I studied CT but it looks like they have overhauled the system. The breadth and depth of available SAR data has greatly expanded. FinCEN’s main
sources of SAR information continue to include almost 15,000 banks and credit
unions, almost 45,000 Money Services Businesses, and about 900 casinos. The
banks and credit unions alone occupy over 100,000 offices and branches located in
every corner of America. The USA PATRIOT Act’s AML authorities brought other
financial industries under FinCEN SAR regulations; over 7,000 mutual funds, over
1,000 insurance companies, and thousands of securities or commodities brokerage
firms. FinCEN continues to expand its responsibilities and available sources of
SAR information. Our most recent final rule, Definitions and Other Regulations
Relating to Prepaid Access affects thousands of businesses, and addresses the money
laundering threat that prepaid cards, internet transfers, mobile payments, and other
prepaid devices may pose.
fin cen.gov/news_room /rp/files/sar_tti_20.pdf
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