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A comment on A Chinese American gangster transformed money laundering for drug cartels. Parent comment

Re:A Chinese American gangster transformed money laundering ... by Aperocky on Friday October 14, 2022 @07:03PM (#33209828)
I suspect the "cash" referred in the article are actually 2 distinct things. First being literal dollar bills and the second being bank account balance.

When you buy a house using account balance no actual paper note is involved but it is referred to as "cash".

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Re:A Chinese American gangster transformed money laundering ... by conductr on Friday October 14, 2022 @09:42PM (#33210812)
IRS considers many things beyond currency “cash.” See section 32 of the form where it has you quantify how much value of each of 6 financial instruments were received in the transaction.

If you’re expecting a wire transfer being a loophole, the cash has to get into the bank where the funds exist and they are required reporters for AML/SAR.

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