Laundering cash to check at table games.

Quote: jjjoooggg

Quote: darkoz

Quote: jjjoooggg

The bank interviewed mom. And I just got off phone interview with our bank. They were investigating an increase of cash deposits in July. The deposits were not 10k or more. But an accumulation in a month. We have the slowest sales in our history. I told her that these deposits are low and not abnormal. We had a long discussion. I am guessing, someone made a complaint. Which has happened before. We have never laundered money or dealt drugs. We have been in the restaurant for 60 years. So it goes to say that even if your deposits are below 10k, an SAR can be reported and acted upon.

Bookkeeper just said july was slowest month.
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The problem is most bank employees are just idiots trained badly.

They're told look out for XYZ so when they see W, they go that must be included as well.

The worst example was a few years ago when they got a man locked up for passing a phony check. Only it was a real check. The guy was in lockup for half a week, had his car repossessed, lost his job and apartment (the check was held by police as evidence for a long time, first for being fake then as part of evidence for a false police report and it was his onky means of paying his bills once he lost his job.
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My bookkeeper just told me that cash deposits have been declining.

May 76k
June 71k
July 63k

For three locations combined, this is slow. McDonald’s deposits about 150k cash per location. Dine in restaurant 300k cash per location.

We only collected $375 in cash per shift per location. We went through the sales records and nothing looked abnormal on that month.
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In July, cash collected per shift is $375. Pitiful. For any kind of restaurant business.

Lets suppose, I hypothetically would launder cash. Id have to make the paper trail fit. So the reported sales tax, register reports and envelope drops and bank deposits would all equal. In order to do that. I would have to walk in during a shift everyday, and ring up 500 meals that never happened. Put 5k of cash in drawer. So the cash register report would match the cash. That employee would place the cash in his/her envelope drop. We would have 90% cash sales and 10% Credit card. That ratio of cash to credit would be the only red flag. In July, we saw 50% credit card sales. The highest we've seen. It used to be 30% credit. Customers have been increasingly using credit throughout the decade.

This is why it is so obvious that someone made a complaint. The numbers on the screen show less cash. The opposite of laundering.

Now, suppose we were not reporting cash. I would have to train employees how to steal cash from the company. They would use a calculator and instead of ring up order, press no sale to open the cash drawer. It is an industry known method that employees use small change to keep a running tally. For every dollar, place a penny on the side. We caught employees doing that. Weve had internal theft for decades. We have never recovered that money. We just keep firing. The cameras are a deterrent and used for legal prosecution.

In either case, the cashier would notice. In the second case, we would be in peril of massive employee theft. I believe, we have lost millions to internal theft. A manager brought this up in 1987. I saw him in 2013. He brought it up again.

I feel like I stumbled into a group of third-graders talking about sex.

Quote: billryan

I feel like I stumbled into a group of third-graders talking about sex.
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I am in my 50’s and i began cashiering at 11. Family members are exempt at 11 for under age work.

We were not being investigated for laundering. The two weeks of calls and interviews are for suspected embezzlement.

Our account is approaching overdraft. 3 times record loss (-2,500/day). We closed down a week ago due to theft. We are still waiting to see how low the account goes after outstanding checks clear. -2,500 doesnt include loss of profit, only bank funds.

For 2 years, we werent making a profit. We stayed open to pay property tax, insurance and mowers.

Working on a new income.