Justice Served!

[bnorth]

Originally Posted by Batpig

I wondered the same thing. Here's an article that explains it.

https://www.cnbc.com/2015/05/29/when...own-money.html

Basically you can't withdraw amounts over or near 10,000 without filling out forms, and if you do, don't lie about the reasons.

Yep, learned about that bat sheep crazy law the hard way once. It is the same with depositing cash. You also have to report over 10K in cash while traveling. It is not illegal to have the cash, you just have to report it.

Also strangely enough if the PoPo takes your legally obtained cash you have to hire a lawyer to get it back and it is not an easy process.

[buymycards]

The Bank Secrecy Act, which is enforced by the Secret Service, was put in place to prevent money laundering. If you go to a Post Office to purchase money orders, any purchase totalling $3000 or more requires you to fill out a form that is electronically transmitted to the Secret Service. The same thing is supposed to happen if you go to your bank and withdraw $3000 or more in cash.

[bnorth]

Originally Posted by buymycards

The Bank Secrecy Act, which is enforced by the Secret Service, was put in place to prevent money laundering. If you go to a Post Office to purchase money orders, any purchase totalling $3000 or more requires you to fill out a form that is electronically transmitted to the Secret Service. The same thing is supposed to happen if you go to your bank and withdraw $3000 or more in cash.

Never heard of that law. I have recently withdrawn more than 3K at a bank and a credit union and they just handed me the cash. I have only ever had a problem with over 10K the one time before I knew the law.

EDIT: To stay somewhat on track it is nice to see the scammer got busted.

[Batpig]

I think 3000 was the original amount. It's definitely 10,000 now.

[Fballguy]

Originally Posted by Batpig

I think 3000 was the original amount. It's definitely 10,000 now.

I worked in a bank in the early 90's and 10K was the law then as well. Bank employees are trained to look for multiple cash withdrawals/deposits that exceed 10K in a short period of time as well. I would imagine nearly thirty years later, their systems automatically alert them to such activity. And if you walk in and ask to withdraw $9,999 you'll be reported as well.

This is a great story, but how about doing something to eBay for allowing so many people to sell unauthorized reprints. Isn't eBay culpable here since they're making money off of counterfeit goods?