True. But when I was a wetback bank teller making $6.50 an hour, I didn't fill out any forms I didn't have to. Come to think of it, you have to fill out a CTR when you purchase a bank check or money order for only $3,000 or more in cash. I forgot about that.

Just a side note to show how effective these CTRs have to be...when I worked at a bank many moons ago, we would receive calls from the IRS pertaining to CTRs that we had filled out 8 or 9 months before...I would find that very encouraging if I were laundering money on a temporary basis. You get the money moved, skip town, and you still have a good 6 month head start before the IRS even has a notion to catch on.

Mike

---------- From: dlv@bwalk.dm.com[SMTP:dlv@bwalk.dm.com] Sent: Tuesday, December 24, 1996 12:41 PM To: cypherpunks@toad.com Subject: RE: Legality of requiring credit cards?

Mike Topalovich <TOPALOVICH@terraglyph.com> writes:

...

It's not necessarily because you are paying with $100 bills. The IRS requires banks and other businesses to report all cash transactions exceeding $10,000 by means of a Currency Transaction Report (CTR). This is a way for the IRS to track money laundering. There happens to be two lines on the form asking for the number of $50 and $100 bills, but those lines are optional.

They're supposed to report "suspicious" cash transactions under 10K too.

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Dr.Dimitri Vulis KOTM Brighton Beach Boardwalk BBS, Forest Hills, N.Y.: +1-718-261-2013, 14.4Kbps