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> Could be a small amount every x days? I thought "structuring" was illegal. Hmm, maybe they could be paid in bitcoin?
by cheaprentalyeti 4y ago
> Could be a small amount every x days?
I thought "structuring" was illegal.
Hmm, maybe they could be paid in bitcoin?
- Akronymus 4y agoNever heard about "structuring" before. Gonna have to look it up.
- rsstack 4y agoI don't think anti-money laundering laws apply to federal agencies. The SEC isn't hiding this payment from the IRS, in this hypothetical scenario they are just hiding it from the bank employees. In reality, I don't think any bank employee is going to see if a customer got "more than $17M" and assume that they're a whistleblower and... do something with that.
- jaywalk 4y agoEven if the SEC structured these payments, I highly doubt they'd be under $10k each. It would take way too long.
- giaour 4y agoIt’s the government; couldn’t they just hand the whistleblower a $17MM stack of paper treasury bonds? (Or, more realistically, credit $17MM of bonds to the whistleblower’s treasury direct account.)
- HWR_14 4y agoStructuring is illegal if it's designed to avoid federal reporting thresholds. You're perfectly able to structure your payments as long as each one is above $10,000 US without it triggering any US law. I believe there is also paperwork you can fill out to structure payments below $10,000 apiece (the reason you have to fill out paperwork in that case is to prove the reason for the many smaller payments wasn't to avoid the bank filling out that paperwork on your behalf.) Meanwhile, lottery winners, people employed at a business and many others receive money at regular intervals.