Quote:
Originally posted by NoSoup
Ah, I did a little research, and I stand corrected.
It is illegal for me to discuss matters such as these, as I was bank personnel at one time and signed many things regarding the Bank Secrecy Act. My apologies everyone.
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NoSoup is correct, he can't discuss it. As to other posts, they make good points, but, they are not quoting the letter of the law. All deposits to bank or brokerage firms over the amount of $10,000.00 must be reported. However, consistent depostits of just under the $10,000.00 limit also require notification.This make's perfect sence, since you could make deposts every day at just under the legal limit. It becomes the responsability of the banker or broker to see a pattern.
So, you have nothing to feer, but fear itself.