Cryptocurrency Q&A
How much cash is suspicious?
How much cash is suspicious?
JessicaMiller
Sun Feb 09 2025
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6
answers
1473
I'm trying to understand what amount of cash can be considered suspicious. Is there a specific threshold or is it based on context? I want to know how much cash can raise red flags.
6 answers
Tommaso
Tue Feb 11 2025
Financial institutions have a legal obligation to report large deposits to the federal government.
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EthereumEmpire
Tue Feb 11 2025
This requirement is in place to help monitor for any potential financial crimes.
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Stefano
Tue Feb 11 2025
If you deposit an amount exceeding $10,000 in your bank account, the bank is mandated to inform the federal authorities.
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benjamin_stokes_astronomer
Mon Feb 10 2025
The threshold of $10,000 has been set as a benchmark to trigger this reporting mechanism.
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Tommaso
Mon Feb 10 2025
The purpose of this reporting is to ensure transparency and prevent illegal activities such as money laundering.
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