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> Well, unfortunately you do live in one of those worlds, at least as far as the flow of money goes. What about people who pay with cash? I know people who us
by Veratyr 9y ago
> Well, unfortunately you do live in one of those worlds, at least as far as the flow of money goes.
What about people who pay with cash? I know people who use cash for privacy reasons but society doesn't treat them like criminals.
- heisenbit 9y agoYet
- hvk 9y agoNot necessarily true in the USA. See https://en.wikipedia.org/wiki/Bank_Secrecy_Act#Affected_transactions https://en.wikipedia.org/wiki/Bank_Secrecy_Act#Affected_tran... for example. I can only imagine how suspiciously any normal bank would generally treat a customer that walks in and tries to withdraw, say $50,000 in cash, for example.
- wpietri 9y agoFor small amounts of cash, it's not a problem. But any cash transaction over $10k must be reported. [1] (Structuring your transactions so as to sneak under the limit is illegal.) The same goes for traveling across a US border with over $10k in cash or cash equivalent. Even under that level, though, some level of suspicion attaches to large wads of cash. I've had vendors ask for cash payment for things in the $1-5k range, and it was pretty clear to me that they had tax evasion in mind. [1] https://en.wikipedia.org/wiki/Currency_transaction_report https://en.wikipedia.org/wiki/Currency_transaction_report