theres been some banks in new york get in trouble for money laundering and have called in consultants to go through their procedures and records with the feds.
as it happens one of my friends is involved in the team at the largest bank.
in terms of the 10k deposit rule the instruction is to flag people if there is an appearance they are trying to circumvent them breaking the 10 k rule
for example you deposit 9500 9500 9500 9500 9500 9000 9800 .. you will get flagged
also its better not to deposit even money amounts, he suggests the best way is to deposit between 4-5k to stay well under the radar.
if you have tonnes of cash you need to bank then slip in one deposit of like 12,330 because they will then reset the number of deposits you are making back to 1 again, making them think you arent trying to break the rules.
a note on countries they have an instant report filing process of transactions for certain countries ...I didnt ask about sportsbook type locations but certain countries they auto flag for approval.
the banks who got in trouble for this are not the small ones its the main large ones who are getting fined and audited at present fwiw
as it happens one of my friends is involved in the team at the largest bank.
in terms of the 10k deposit rule the instruction is to flag people if there is an appearance they are trying to circumvent them breaking the 10 k rule
for example you deposit 9500 9500 9500 9500 9500 9000 9800 .. you will get flagged
also its better not to deposit even money amounts, he suggests the best way is to deposit between 4-5k to stay well under the radar.
if you have tonnes of cash you need to bank then slip in one deposit of like 12,330 because they will then reset the number of deposits you are making back to 1 again, making them think you arent trying to break the rules.
a note on countries they have an instant report filing process of transactions for certain countries ...I didnt ask about sportsbook type locations but certain countries they auto flag for approval.
the banks who got in trouble for this are not the small ones its the main large ones who are getting fined and audited at present fwiw