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You've crushed the dreams of a lot of people who get their tax tips from anonymous internet posters. "Deposit $9,999 to fool the IRS" is up there with "Consult
by starkred 6y ago
You've crushed the dreams of a lot of people who get their tax tips from anonymous internet posters.
"Deposit $9,999 to fool the IRS" is up there with "Consult with top divorce lawyers to keep them from representing you spouse" in the Hall of Bad Legal Advice.
- kjs3 6y agoYeah...there's not a COBOL program running someplace saying IF DEPOSIT IS EQUAL TO 9999.00 THEN FLAG-IT. There's some pretty sophisticated machine learning work being done here, and all the major banks these days have a data science team working the problem.
- starkred 6y agoSadly there probably is such a COBOL program but it's only going to be the first in line of a lot of systems looking for fraud.
- kjs3 6y agoWhy is that sad? Since there are a vast collection of morons who see "transactions over 10k will get flagged" and 'cleverly' say "ah-ha! I shall beat the system with 9999.00!", why wouldn't you want to spot that early and easy?