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As a business you have to issue invoices and you also have a responsibility to stop obviously criminal behavior. A car dealership can’t sell somebody a Lamborg
by gizmo 4y ago
As a business you have to issue invoices and you also have a responsibility to stop obviously criminal behavior.
A car dealership can’t sell somebody a Lamborghini if they want to pay with crumpled $20 notes. An art dealer can’t buy a Mondrian that the seller claims they found in their granny’s attic.
I don’t understand how this is controversial.
- etrautmann 4y agoNeither of your examples seem obvious or objectively criminal, or uncontroversial for that matter. If you pull back from Lambo to a Civic, is this still obviously criminal? classifying suspicious transactions is a weird and dangerous path to legislate.
- fragmede 4y agoExcept that we're already there. Domestically, cash above $10k is already subject to a reporting requirement, a new Honda Civic is $22k, and that much cash has been deemed suspicious due to the war on drugs.