Ok, this past weekend a friend of mine had a BBQ at his backyard. And I met a few of his other friends. One who happened to be a bank teller.
After a few beers, I asked about the USA patriot act. Which was started after 9/11 to keep track of money laundering to terrorist and any kind of illegal activities of money laundering in general.
He said that he had to report this customer who was receiving checks from a Canadian bank at least twice a month with different amounts usually around $1-3K
I said to who and what for. He said to the Feds and for suspicious activity.
He said they were trained to report any suspicious activity regarding money laundering.
To make a long story short they found out it came from a sports book and he didn't really know what happened to the customer since the Feds don't really tell them about the investigation.
i just find it weird that the Feds would really care about a $1-3K deposit/withdrawal but at the same time worried because most of us before bitcoin came, deposited checks from sportsbooks.
Furthermore, for us bitpay card users. Remember we gave our SSN to have an account with them. Does that mean the Feds keep track of our transactions too.
Things like this keep me up at night.