777
777
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August 24th, 2016 at 4:28:17 PM permalink
Quote: RS

Carrying money on the other hand, that is not involved in a transfer (i.e.: someone having $20k in their pocket) is NOT subject to anything under Title 31 or federal reporting requirements. There is nothing that needs to be filed, no paperwork, no fancy IRS this or US Treasury that. Does not need to be reported, as long as it remains within the USA. If you plan on taking that money ($10k+) into the USA or to be taken out of the USA, as far as I know, it does need to be reported (but I don't really know about any of that stuff, I don't have much interest or care for traveling internationally with money).

TL;DR: Nothing needs to be reported if you are traveling within the USA. All the reporting stuff only has to deal with banks/casinos, or foreign travel. You can legally drive from Maine to California to Washington to Florida with $10M in your trunk, and you don't need to report a thing. (Not that you necessarily should.)



Many people here had expressed great concern about money seizure/confiscation by law enforcement personnel. So here is a question for ALL, under what law that a DEA, TSA, police or other law enforcement personnel can question the source of a citizen “hard earned” money in his/her body, car, plane, boat or house whether the amount is $1 or $1,000,000?
777
777
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August 24th, 2016 at 4:59:18 PM permalink
Quote: RS

Carrying money on the other hand, that is not involved in a transfer (i.e.: someone having $20k in their pocket) is NOT subject to anything under Title 31 or federal reporting requirements. There is nothing that needs to be filed, no paperwork, no fancy IRS this or US Treasury that. Does not need to be reported, as long as it remains within the USA. If you plan on taking that money ($10k+) into the USA or to be taken out of the USA, as far as I know, it does need to be reported (but I don't really know about any of that stuff, I don't have much interest or care for traveling internationally with money).

TL;DR: Nothing needs to be reported if you are traveling within the USA. All the reporting stuff only has to deal with banks/casinos, or foreign travel. You can legally drive from Maine to California to Washington to Florida with $10M in your trunk, and you don't need to report a thing. (Not that you necessarily should.)



Quote: 777

Many people here had expressed great concern about money seizure/confiscation by law enforcement personnel. So here is a question for ALL, under what law that a DEA, TSA, police or other law enforcement personnel can question the source of a citizen “hard earned” money in his/her body, car, plane, boat or house whether the amount is $1 or $1,000,000?



My guess is since there is no mechanism for self-reporting, and demanding self-reporting by the transporter would create a great inconvenience and is really NOT enforceable, then it is up the law enforcement personnel to do the “reporting” if any transporter is caught with transporting amount greater than $10,000. And based on many stories told here, I think the law enforcement personnel have one additional authority that bank and casino employees do not have, and that authority is to confiscate suspicious cash …
DRich
DRich
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August 24th, 2016 at 6:42:55 PM permalink
I may have missed if somebody already corrected this but you do not have to report cash you are flying with if you are flying domestic. The $10,000 reporting is for international flying to or from the U.S.
Order from chaos
Hunterhill
Hunterhill
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August 24th, 2016 at 6:54:57 PM permalink
Quote: 777

My guess is since there is no mechanism for self-reporting, and demanding self-reporting by the transporter would create a great inconvenience and is really NOT enforceable, then it is up the law enforcement personnel to do the “reporting” if any transporter is caught with transporting amount greater than $10,000. And based on many stories told here, I think the law enforcement personnel have one additional authority that bank and casino employees do not have, and that authority is to confiscate suspicious cash …


It doesn't have to be more than 10k,they will take any amount that they want along with your cellphone or anything of value that you have.
Sixty minutes did a story on a town in Texas ,They took as little as $80 from someone. They target minorities and actually prefer smaller amounts ,less chance of the victim hiring a lawyer to recover their money.
The mountain is tall but grass grows on top of the mountain.
777
777
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August 24th, 2016 at 7:09:25 PM permalink
Quote: DRich

I may have missed if somebody already corrected this but you do not have to report cash you are flying with if you are flying domestic. The $10,000 reporting is for international flying to or from the U.S.



I think for international travel, a "reporting" is basically a traveler's declaration to the customs upon departing or returning to the U.S.

If for some reason, a traveler's cash on hand is greater $10,000, what is the normal procedure for the customs to handle the amount in excess of $10,000?
777
777
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August 24th, 2016 at 7:13:49 PM permalink
Quote: Hunterhill

It doesn't have to be more than 10k,they will take any amount that they want along with your cellphone or anything of value that you have.
Sixty minutes did a story on a town in Texas ,They took as little as $80 from someone. They target minorities and actually prefer smaller amounts ,less chance of the victim hiring a lawyer to recover their money.



I can see few isolate incidents here and there in the U.S., but let's not equate this to the problem of systemic bribery and corruption in Mexico or other part of the world.
AxelWolf
AxelWolf
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August 24th, 2016 at 8:12:29 PM permalink
Quote: 777

In banking transaction, I can see the value of money-laundering where money can be distributed to multiple individuals, organizations, and other businesses domestically and internationally. But for a typical chip buy-in & cash-out in a casino environment, how does money is laundered ? If a drug dealer took $100,000 cash (assume non-counterfeit bills) to a casino, and after combination of many bets and chip transactions, he/she then left the casino with an amount either less than or greater than his/her original cash depending on his/her luck. I don’t see how the money was laundered in the cash/chip exchange scenario?

With regarding to CTR, how would the casino handle an international customer or a non-US citizen but legal resident customer who does not have SSN? The customer has only either a driver license, or a passport. Would the customer be asked to leave the property or be banned from the property forever for simply failing to provide a SSN?

They are supposed to keep track of your buy in's as well and once it reaches over 10k a CTR should be done. That way someone can't say they only bought in for 1k and won 10k now they cleaning 9k.

In poker games oftentimes they don't do this. I would think that would be the easiest way to launder and exchange money.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
rainman
rainman
Joined: Mar 28, 2012
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August 24th, 2016 at 8:46:34 PM permalink
Quote: 777

Many people here had expressed great concern about money seizure/confiscation by law enforcement personnel. So here is a question for ALL, under what law that a DEA, TSA, police or other law enforcement personnel can question the source of a citizen “hard earned” money in his/her body, car, plane, boat or house whether the amount is $1 or $1,000,000?



Civil forfeiture.

https://www.youtube.com/results?search_query=Civil+forfeiture+
DRich
DRich
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August 24th, 2016 at 8:51:14 PM permalink
Quote: 777


If for some reason, a traveler's cash on hand is greater $10,000, what is the normal procedure for the customs to handle the amount in excess of $10,000?



I don't believe there are any different procedures as long as the flyer declares the cash. I have been asked the source of the cash when taking more and less than $10k. I really think when they ask they are just checking for suspicious behavior and evasiveness. The issue is if you don't declare it and they happen to find it.
Order from chaos
Joeshlabotnik
Joeshlabotnik
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August 24th, 2016 at 9:13:17 PM permalink
Quote: Hunterhill

It doesn't have to be more than 10k,they will take any amount that they want along with your cellphone or anything of value that you have.
Sixty minutes did a story on a town in Texas ,They took as little as $80 from someone. They target minorities and actually prefer smaller amounts ,less chance of the victim hiring a lawyer to recover their money.



Yep, ya gotta look out for "they." They are everywhere. They stalk the land for victims. They will tackle you, drag you into the bushes, and hack out your internal organs on the spot! They know that there are absolutely no laws prohibiting them from doing anything they want!!!!!!!!! It's an EPIDEMIC!! YAAAAAAAH!!!! Donald Trump, save us!!!

I know this is 100% absolutely true fact because I read it on the internet!

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