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I want to highlight an adjacent point: The Bank Secrecy act was established in 1970 and the $10k back then had the same buying power as $78k now. Its fucking bu

by wand3r 3y ago

I want to highlight an adjacent point: The Bank Secrecy act was established in 1970 and the $10k back then had the same buying power as $78k now. Its fucking bullshit that this law has not been repealed. With crazy inflation over the past few years $10k of cash is a fairly trivial sum. In SF, if you paid 2 months of rent in advance your landlord would have to go through extra acrutiny.

HWR_14 3y ago
It doesn't go through "extra scrutiny" in any meaningful sense. It just gets reported to the IRS so people don't evade taxes.
- beaeglebeached 3y ago
  They are usually filed electronically to FinCEN now, who's namesake is crime enforcement rather than revenue collection.