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A comment on FBI is hiding details about a raid on Americans’ safe deposit boxes. Parent comment

Re:FBI is hiding details about a raid on Americans’ safe dep... by trhway on Thursday July 28, 2022 @02:31PM (#32268406)
>What is next? Having more money in your bank than the police believe you should have?

that is how Al Capone was taken down, isn't it? That is the reason government pushes you to use banks by in particular attacking even very modest cash piles. And you do have that $10K bank transaction limit triggering law enforcement check.

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Re:FBI is hiding details about a raid on Americans’ safe dep... by RajT88 on Thursday July 28, 2022 @02:33PM (#32268420)
Tax Evasion, rather different. It was based on their visible wealth, not snooping on their accounts:

https://en.wikipedia.org/wiki/Al_Capone#Tax_evasion

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Re:FBI is hiding details about a raid on Americans’ safe dep... by treeman79 on Thursday July 28, 2022 @03:20PM (#32268975)
https://youtu.be/G56VgsLfKY4

Even the Joker wont take on the IRS.

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Re:FBI is hiding details about a raid on Americans’ safe dep... by RajT88 on Thursday July 28, 2022 @04:31PM (#32269742)
What's funny is, the IRS really actually does want you to declare all money to have taxes paid.

Even the stuff which is from criminal activity.

https://www.irs.gov/publications/p17

That is, presumably, someone else's problem if you report money received from money laundering or bribes.

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Re:FBI is hiding details about a raid on Americans’ safe dep... by Scoundreller on Thursday July 28, 2022 @04:42PM (#32269866)
In Canada, the CRA (our IRS) is allowed to tattle on you if the crime they suspect could be “serious criminality”, defined as could involve a sentence of 14 years or more.

So when we legalized marijuana, most of the possible infractions have sentences up to 14 years and that’s no coincidence.

Bringing marijuana across a border? Up to 14 years!

Making an extract? Up to 14 years!

Sharing with a minor? Up to 14 years!

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Re:FBI is hiding details about a raid on Americans’ safe dep... by maxerickson on Thursday July 28, 2022 @05:10PM (#32270152)
Isn't the 10K the reporting threshold for the bank?

(vs actually triggering any sort of law enforcement check on that particular transaction)

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Re:FBI is hiding details about a raid on Americans’ safe dep... by rnotaro on Thursday July 28, 2022 @09:53PM (#32272297)
In Canada that's the amount where your transaction get automatically submitted to FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). Abnormal smaller transaction patterns and suspicious transaction can also be reported to FINTRAC for analysis.

"FINTRAC analyzes approximately 19 million transactions per year. In 2017, FINTRAC made 2,000 disclosures to police forces." according to Wikipedia.

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Re:FBI is hiding details about a raid on Americans’ safe dep... by nradov on Thursday July 28, 2022 @08:37PM (#32271758)
US banks are generally required to report all cash transactions over $10K. However, they're also supposed to report smaller cash transactions that look suspicious. Like if you deposit $5K cash today, and then another $5K cash tomorrow, then it's likely that the bank will file a Suspicious Activity Report (SAR) with FinCEN.
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Re:FBI is hiding details about a raid on Americans’ safe dep... by bad416f1f5a2 on Thursday July 28, 2022 @09:31PM (#32272130)
Note particularly that attempting to shape your deposits to avoid SARs - by depositing on different days, or different banks - is itself a federal crime.

https://www.law.cornell.edu/uscode/text/31/5324

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