The government is not necessarily interested is what checks a person cashes. The government is interested in stopping criminal activities though, and as such requires banks to report large cash transactions. In most, but not all cases, cash movements in excess of $10,000 must be reported. This is no secret. Certainly there is nothing wrong or suspicious about a person depositing or cashing a large check and a law abiding person should have no worries about such an activity. |
What law enforcement agencies do look for are suspicious activities. An unemployed person depositing or withdrawing $12,000 a day, as an example, could be suspicious. This doesn't infer any guilt, but where would these funds come from, or go, when transactions seem frequent and there is no known source of the funds? All law abiding citizens should wonder about this.
If a person was attempting to shield money from the IRS, they should look at their bank statements. All transactions are accounted for. There is always a paper trail, regardless of the amount.
Published on BankingQuestions.com 11/16/07