Suspicious Banking Activites ; freaking out!!!

**rem sleep** · 11-16-10, 10:19 PM

does your bank have atm's that accept cash deposits? If so put in a couple thousand every week.

**relaaxx** · 11-16-10, 10:26 PM

please give me a break - millons of people here and millons of people in other places around the world doing billons of transactions daily - and yours are going to stick out - plus all the other banking problems going on and they are coming for you. there is no joy in winning if you have all this fear about every unknown. if you are lucky enough to win. i hope you can enjoy it. if you lose , well nothing to worry about. here is an idea-----win and not worry---now that's winning.

**username474** · 11-16-10, 10:37 PM

Structuring is a big deal. Tell your bank manager up front that you gamble. As long as you pay your taxes you have nothing to worry about.

**jjgold** · 11-16-10, 11:07 PM

Originally posted by relaaxx

please give me a break - millons of people here and millons of people in other places around the world doing billons of transactions daily - and yours are going to stick out - plus all the other banking problems going on and they are coming for you. there is no joy in winning if you have all this fear about every unknown. if you are lucky enough to win. i hope you can enjoy it. if you lose , well nothing to worry about. here is an idea-----win and not worry---now that's winning.

Post of night

**Brock Landers** · 11-16-10, 11:14 PM

i've moved THOUSANDS in and out for years and never ever thought twice about it.

Hell i've deposited sportbook checks since 1995 and only had an issue with one, an ESB check back in late 95, which they cleared up.

**BChrisB** · 11-16-10, 11:16 PM

you can transfer as much as you want, it raises flags but only if it's related to criminal activity.

It's not criminal activity to collect money you won gambling, even under the UIGEA.

Hell, some slots players win over 1,000,000 on online progressive slots they get their money in their bank accounts.

You need to worry more about the IRS in this matter than the FBI. If you even think you need to be worried.

**increasedodds** · 11-16-10, 11:16 PM

I have so many SARS (Suspicious activity reports) I'd assume the government would get suspicious if a month goes by and I don't have one.

It is not illegal to move cash.

**terpkeg** · 11-16-10, 11:17 PM

Originally posted by bubba

even if no other crime is commited? lets say i win 50k cash in atlantic city. declare it on my taxes and all. but i depsoit it into my bank 5k at a time because i think 10k would get me in trouble of some sort (stupidly thinking). this is a serious felony??

If you are knowingly doing it to evade reporting requirements, yes. This is a federal offense.

**BChrisB** · 11-16-10, 11:32 PM

Originally posted by slimpickins

That dude has no belly button!
Seriously not worried about jail just big ass fines that would make gambling not worth it

Sucks that you have an 80 percent chance of losing at this hobby and if by luck you end up in the 20 percent you have this crap to think about

Gambling causes some people to worry too much, maybe you should take a break not because of finances but all the worry and paranoia it's causing you.

This is a serious biological side effect experienced by many gamblers.

**bubba** · 11-16-10, 11:32 PM

Originally posted by terpkeg

If you are knowingly doing it to evade reporting requirements, yes. This is a federal offense.

even if you paid your taxes? what would the penalty be? i cant imagine getting in trouble for keeping transactions under 10k if u paid all your taxes..............

**venice2222** · 11-17-10, 12:01 AM

I wish I had the problem of depositing winnings. Usually I lose 10K during football season.

**terpkeg** · 11-17-10, 12:13 AM

Originally posted by bubba

even if you paid your taxes? what would the penalty be? i cant imagine getting in trouble for keeping transactions under 10k if u paid all your taxes..............

I should have been more clear. The elements of the crime of Structuring have nothing to do with paying your taxes. Simply, if you make deposits of less than $10,000 to avoid currency transaction reports, which are filed by your bank on deposits of 10K or more, than you have committed Structuring. Knowledge of the reporting requirements is an element of the crime. If you were not aware that the bank files these reports, then you have a defense. Knowedge can be proven by circumstantial evidence. However, if you are making a deposit at one bank for 7K, then going to another branch the next day with 5K, you should have a valid reason for it.

Chances are, there is no reason for the feds to go after the TS though, especially if he is paying taxes. The only case of structuring I have seen had a man going to three branches in the same day. He said that he was unaware that the bank would report over 10K, but that he wanted to avoid filing out the paper work because he was in a rush and he knew they would make him fill something out. I believe the Feds were only targeting him because they believed he was withhodling rental income though. He owned many apartments.

Its been a while since I researched this, but I thought the penalty was up to 10 years. Most likely just be an assload of fines though

**bubba** · 11-17-10, 12:43 AM

Originally posted by terpkeg

I should have been more clear. The elements of the crime of Structuring have nothing to do with paying your taxes. Simply, if you make deposits of less than $10,000 to avoid currency transaction reports, which are filed by your bank on deposits of 10K or more, than you have committed Structuring. Knowledge of the reporting requirements is an element of the crime. If you were not aware that the bank files these reports, then you have a defense. Knowedge can be proven by circumstantial evidence. However, if you are making a deposit at one bank for 7K, then going to another branch the next day with 5K, you should have a valid reason for it.

Chances are, there is no reason for the feds to go after the TS though, especially if he is paying taxes. The only case of structuring I have seen had a man going to three branches in the same day. He said that he was unaware that the bank would report over 10K, but that he wanted to avoid filing out the paper work because he was in a rush and he knew they would make him fill something out. I believe the Feds were only targeting him because they believed he was withhodling rental income though. He owned many apartments.

Its been a while since I researched this, but I thought the penalty was up to 10 years. Most likely just be an assload of fines though

yeah, i can see structurning being a problem if there is something else to go with it. tax evasion, organized crime, etc. but i cannot see someone being prosecuted for this alone.

**soxwin1917** · 11-17-10, 12:52 AM

This has been an informative thread. I was aware of avoiding the 10K threshold, but I had no idea that there was a crime associated with it.

**sweethook** · 11-17-10, 01:06 AM

keep your money in a bucket but it in the barn. or behind barn let grass grow up around it no one will ever no,ul be fine

**Hareeba!** · 11-17-10, 02:29 AM

only those doing something wrong need fear being reported

**Trucker George** · 11-17-10, 05:02 AM

Apparently there's such a thing as aggravated structuring as well:

(d) Criminal Penalty.—
(1) In general.— Whoever violates this section shall be fined in accordance with title 18, United States Code, imprisoned for not more than 5 years, or both.
(2) Enhanced penalty for aggravated cases.— Whoever violates this section while violating another law of the United States or as part of a pattern of any illegal activity involving more than $100,000 in a 12-month period shall be fined twice the amount provided in subsection (b)(3) or (c)(3) (as the case may be) of section 3571 of title 18, United States Code, imprisoned for not more than 10 years, or both.

Link for Structuring transactions to evade reporting requirement prohibited

Also, someone suggested telling your banking manager that you are a gambler. I disagree. Doing that will pretty force the hand of the bank to enforce the UIGEA on your account, which could cause any bank wires to be blocked and have them scrutinize your checks. Moreover, some banks will outright close your account outright (BkofAma probably would do this).

**nenad** · 11-17-10, 05:10 AM

leave the country

**Emily_Haines** · 11-17-10, 12:31 PM

Get yourself an off shore banking account and then you don't even have to worry about deposits over 10 dimes.

**losturmarbles** · 11-17-10, 01:17 PM

Originally posted by bubba

even if you paid your taxes? what would the penalty be? i cant imagine getting in trouble for keeping transactions under 10k if u paid all your taxes..............

It's basically just a subjective and ambiguous law to give the police probably cause to invade your privacy.

**craigpb** · 11-17-10, 03:26 PM

Don't see how you will have any problems considering all the people who do this and never get hassled.

**jcarthone** · 11-17-10, 03:36 PM

i had a chase account opened because i go to vegas often, and they have a branch in vegas,so i dont have to hold all the cash, and they closed my account once i put a lil bit over 10K in there,it ****** me up because i was in vegas when they did it

**blackbeSSt** · 11-17-10, 03:36 PM

Originally posted by craigpb

Don't see how you will have any problems considering all the people who do this and never get hassled.

and you know a lot of people who do this? trust me, if you do it, regardless of when or where, you will get hassled with it. IT'S THE LAW for them to do it

**Hareeba!** · 11-17-10, 03:43 PM

Originally posted by blackbeSSt

and you know a lot of people who do this? trust me, if you do it, regardless of when or where, you will get hassled with it. IT'S THE LAW for them to do it

ok, it's LAW for them to report the transaction
so what?
that shouldn't cause any problem unless you have something to hide?

**will2survive** · 11-17-10, 03:43 PM

I don't like threads like this.It just makes people paranoid.So many people in the world who wager.Let's just leave it at that.It takes the fun out of wagering if people are worried about their every move.

**blackbeSSt** · 11-17-10, 03:51 PM

Originally posted by Hareeba!

ok, it's LAW for them to report the transaction
so what?
that shouldn't cause any problem unless you have something to hide?

correct. but people in here are talking about how they don't have a right to file it as long as they pay taxes. im just stating that there is no way around this (especially if you are trying to circumvent the law) so the OP is either lying about the $10k transactions, or, well there isn't an or in this situation.

**Thunder Gulch** · 11-17-10, 03:58 PM

Don't deposit gambling cash. Unless you really need it to pay bills or if you hit a jackpot and are buying real estate, just keep it in a safe deposit box. When I've had really big cash collections, I just used it for most spending including gas, groceries, autos, vacations, then make an occasional (every few months) deposit for a few thousand. Now if I ever got up to 100k or so, it might be different and I'd look for an effective way to deposit some.

**slimpickins** · 11-18-10, 12:30 AM

Blackbe
never said 10k in a single trsaction that would have generated a report but never realized the banks still track and report transactions in my case well over 10k in total

thunder glitch is right on and what I should have done

**tofuman** · 11-18-10, 02:12 AM

good ol wikipedia

**Michaelmakesit** · 11-18-10, 06:10 AM

stupidest thread ever
DAD if u see this make a thread of hot chicks with cash

chicks and $....

**HedgeHog** · 11-18-10, 06:55 AM

Say I wish to collect 50k from a sportsbook. What would be the best way to do so:

1--a one time wire
2--10 monthly checks at 5k
3-- multiple **'s with fees up the wazzoo
4-- some other method?

**Fishhead** · 11-18-10, 07:19 AM

The question that needs to be answered is why do you have to deposit into a bank to pay your bills?

What bills?

Pay them with money orders(credit cards) and pay your utilities the sameway or in person.

Again, why do you have to deposit to pay your bills?

**Fishhead** · 11-18-10, 07:20 AM

Originally posted by HedgeHog

Say I wish to collect 50k from a sportsbook. What would be the best way to do so:

1--a one time wire
2--10 monthly checks at 5k
3-- multiple **'s with fees up the wazzoo
4-- some other method?

2 and 4

**thebettor** · 11-18-10, 09:55 AM

If you are paying your taxes, not a big deal. It will show in an audit that you paid up taxes on the winnings if the bank reports suspicious activity.

Try winning big this year and not having time to collect all the money before taxes are due next year...just to pay the taxes for the winnings. I have to pay up the taxes first which will take over a year based on the limit on payouts of the casino each week (not to mention if there are any more processor delays). This means I gotta file an extension, and then pay penalties in interest for whatever I cannot collect before April 15.

In the words of Notorius B.I.G., "mo money, mo problems."

**loyd** · 11-18-10, 10:19 AM

Originally posted by slimpickins

Blackbe
never said 10k in a single trsaction that would have generated a report but never realized the banks still track and report transactions in my case well over 10k in total

thunder glitch is right on and what I should have done

if you are dealing in 10ks go to Europe, preferably Switzerland where nobody will ever bother you even if you deposit 100k in one go. you can even tell them its gambling money, they don't give a s**t.