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In Australia, cash transactions of $10,000 or more must be reported to the government (AUSTRAC https://www.austrac.gov.au/ https://www.austrac.gov.au/). So ...
by __d 4y ago
In Australia, cash transactions of $10,000 or more must be reported to the government (AUSTRAC https://www.austrac.gov.au/ https://www.austrac.gov.au/). So ... cash can be anonymous, but only up to a certain point.
Making multiple transactions of $9999.99 is possible, but it does invite perhaps unwelcome scrutiny.
- notch656a 4y agoThe US passed similar laws, but at the time it was passed was the year 1970, when $10,000 was worth, inflation adjusted, over $70,000 and more than the median household income. They used the fact that the majority might have been against these laws but too apathetic to stop it as it was such an incredibly high value compared to what much of the public ever hoped to have in cash savings, to deceive the public into accepting a non-inflation adjusted figure that slowly tightens the noose to ever smaller and smaller transactions (inflation adjusted).