Re:Bitcoin Promoter Gets 2 Years for Silk Road Money Laundering
by mike_hearn on Sunday December 21, 2014 @07:01AM
(#8779540)
They thought he was "structuring". There's a $10k reporting limit for suspicious transactions. So obviously if you are doing something suspicious, you want to always go in under the limit. So now the real limit is lower than $10k and essentially arbitrary .... you really have no idea how you can use a bank account with cash without being classified as suspicious. Great system, huh.
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Re:Bitcoin Promoter Gets 2 Years for Silk Road Money Laundering
by harryh on Sunday December 21, 2014 @01:58PM
(#8780536)
Actually it does sound like a great system to not know exactly what being suspicious looks like. If the system was very precisely defined it would make it trivial for criminals to avoid suspicion by staying just on one side of a line.