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Typically it is illegal to not report a transaction over 10k. That is the law that was broken, not "money laundering" of course if you move a lot of money arou

Typically it is illegal to not report a transaction over 10k. That is the law that was broken, not "money laundering" of course if you move a lot of money around just under the 10k, that is legal unless you knowingly break it up so that you don't have to report it.

bogositosius 10y ago
In what jurisdiction do I have to report transferring more than $10,000? That's an obligation of the bank, not individuals using banks. (At least in the U.S. Do EU citizens have to report themselves for such transactions?)
- petre 10y ago
  No, the bank doesn't need to report it, they have transaction records on file. It's specifically about moving cash in excess of 10k euros. It's the same i nthe US, you have to report cash payments in excess to $10k to the IRS. http://ec.europa.eu/taxation_customs/individuals/cash-controls_en http://ec.europa.eu/taxation_customs/individuals/cash-contro... In Greece they have even extended this to other comodities such as gold and you have to report it regardless if you're moving it or not, otherwise they can freely confiscate it. http://www.zerohedge.com/news/2015-12-01/greeks-told-declare-cash-under-mattress-jewelry-and-precious-stones http://www.zerohedge.com/news/2015-12-01/greeks-told-declare...
- piaste 10y ago
  > (At least in the U.S. Do EU citizens have to report themselves for such transactions?) No, but transactions over X € must be conducted using a traceable medium - cheques, credit cards, bank transfer, sometimes Bitcoin. X varies by country. Conducting transactions above X € in cash doesn't automatically constitute criminal money laundering, of course, it just gets fined.