As far as I know, it's about currency transactions, i.e. pushing cash into the banking system. So if you withdrew it as cash and then walked cash into the bank, then yes, they'd file a currency transaction report. You'd rather deposit $10,001, rather than $9999, because if it appears that you're trying to avoid the currency report, then the bank has to file a Suspicious Activity Report. The system must see gazillions of Currency Transaction reports. The suspicious activity report, however, is presumably more likely to attract follow-up questions.
https://www.nasdaq.com/articles/7-thing ... ng-account
https://www.nasdaq.com/articles/7-thing ... ng-account
Statistics: Posted by random_walker_77 — Thu Jul 04, 2024 2:55 am — Replies 4 — Views 427
