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> To combat money laundering and financing terror, there are new restrictions imposed on cash transactions over $10,000 and cash deposits by one person into som

• transcriptase 1y ago
  Interesting how that $10,000 threshold never gets adjusted for inflation. $10,000 has been the trigger/limit for a number of financial things since the 90s.
  • techjamie 1y ago
    I did a little research. The $10,000 threshold was set in 1970 in the US as part of the Bank Secrecy Act and, as far as I can tell, wasn't updated since then to reflect inflation. According to an inflation calculator, $10,000 at the time that threshold was set is worth $82,679.12 today.
    • JumpCrisscross 1y ago
      > $10,000 at the time that threshold was set is worth $82,679.12 today Huh. A reporting requirement on $100,000 cash transactions sounds way more reasonable.
      • pixxel 1y ago
        [dead]