Quote:
Originally Posted by w21055
Do multiple deposits for 3K.
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it's called structuring and its a Federal offence.
there is a flag system in place to catch this, beware.
Title 31 of the United States Code, section 5324, provides (in part):
No person shall, for the purpose of evading the reporting requirements of section 5313 (a) or 5325 or any regulation prescribed under any such section, the reporting or record keeping requirements imposed by any order issued under section 5326, or the record keeping requirements imposed by any regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508— [...] (3) structure or
assist in structuring, or attempt to structure or assist in structuring, any transaction with one or more domestic financial institutions.