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I've also heard repeatedly in conversation people frequently admit to structuring financial transactions for a variety of reasons, completely unaware that doing
by stouset 3y ago
I've also heard repeatedly in conversation people frequently admit to structuring financial transactions for a variety of reasons, completely unaware that doing so is a felony.
- immibis 3y agoIs it illegal to round up your transaction to $10,001 for the purpose of making the bank file the form so you can't be accused of structuring to avoid it?
- PrimeMcFly 3y agolol, no. Why would it be?
- creer 3y ago(the problem with these ideas is that they make you responsible for knowing all these things - which ideally is what you pay the bank for.)
- xur17 3y agoDoes the bank have a human look at / file the form, or is it automatically generated? (Unless they are required to do it manually, I can't imagine they do)
- sicromoft 3y agoIt’s only illegal if you’re intentionally doing it to avoid reporting
- stouset 3y agoThey are intentionally doing it because of mostly imagined consequences of having the transactions be reported. And committing a felony as a consequence.
- teemur 3y agoSorry, what does "structuring financial transactions" mean in this context?
- sidewndr46 3y agohttps://en.wikipedia.org/wiki/Structuring https://en.wikipedia.org/wiki/Structuring