Re: B???
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Posted by Boadicea
(66.149.179.202) on June 11, 2004 at 18:23:59:
In Reply to: B??? posted by catballou on June 11, 2004 at 15:23:42:
That's because you and I don't think that way, unless we're forced to in order to try to understand how the criminal mind thinks. Maybe it's not your money, is what the financial people think. Maybe you're trying to legitimize ill-gained money by laundering it through a legal transaction. How do they know if you didn't obtain the money in a drug deal? Or from Al Queda? Or from a bank robbery? How do they know you're not going to take a cash advance on the money instead of making a purchase? The only way they can semi-protect themselves is to establish that you would normally have had access to the money from stocks, your savings, 401k, etc., prior to your paying it to them. You have to admit, $20K is a big chunk of change. If you deposit $10,000 or more to a bank account under your name, the bank must report that to the IRS. It's been that way for a looooong time.
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