Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
Re: Anyone see any risk here?

FrugalRican wrote:

webhopper wrote:
 Also the bank has procedures for making sure they aren't depositing illegal money. Nothing says illegal more than you walking in and depositing thousands in cash.... something to think about

They do, but it's not the act of depositing $11,000 in cash that makes it suspicious.

It's when you tell a person the "why" and then they decide they want to deposit $9,000 instead.

 

But I've seen plenty of people who sell a car, or property, or other things that make that one-time deposit and have a valid reason for doing so.

But I've also seen people who will deposit $9,990 each time and that's definite grounds for a Suspicious Activity Report, which is just as bad.


 

I saw a guy walk in with a duffle bag full of cash once. It made me very uncomfortable. Also was in line at electronics department and.witnessed a kid with a backpack full.of cash buying a video game system. The cash still had the white banding around each bundle.

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