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You can get flagged for much less. (I believe the single transaction limit is more like 5k) But they can also flag smaller transactions that appear to fit 'str
by roc 14y ago
You can get flagged for much less. (I believe the single transaction limit is more like 5k)
But they can also flag smaller transactions that appear to fit 'structuring' patterns. So fairly small innocent transactions can and do get erroneously flagged.
(Structuring being the practice of breaking up 'large' transactions explicitly to avoid being flagged.)
- danielweber 14y agoISTR that Eliot Spitzer was pushing for more aggressive treatment of structuring, and that's exactly how he got caught. No one ever accused politicians of being consistent, though
- duaneb 14y agoI've always known ten grand as the number at or over which they are required to report (or other obvious things like $9999), but they are free to report any transaction.