What is a safe amount of money to deposit at a bank?

[Hawkeye]

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[odin_dax]

What's a safe amount of money you can deposit at a bank before they start ringing the alarm bells? I.e. as opposed to laundering it. Will several of these deposits in a week bring any unwanted attention?

I think it depends on the bank. Banks are more concerned about withdrawals than deposits, but several large cash deposits will raise suspicion. You could frequent a poker house or something and say it's from gambling. The cameras at the poker house will back you up. (Just don't get addicted to gambling)

[Th0r]

What's a safe amount of money you can deposit at a bank before they start ringing the alarm bells? I.e. as opposed to laundering it. Will several of these deposits in a week bring any unwanted attention?

I for one don't reccomend banks at all in terms of depositing money since the Police or Feds have the authority to seize your finances. Not to mention the banks transaction logs can be used as evidence against you in court.

Nevertheless I'll assume you have thought about the concequences of depositing money in a bank so, I'll continue with what I was going to say which is deposit the money at multiple banks over a period of several days or weeks.

Thus decreasing the likelihood of alarm bells going off.

[DrNo420]

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[7eleven mafia]

I have have always heard the magic number in my area is 5,000 dollars is the amount that requires you to fill out paper work. But cash doesnt really pay the bills unless its in a bank so goto best buy get a few PS3s and ebay them have it paid via paypal and send it to an account from there.

I have never done that myself but I hear thats the way to do it.

you can deposit up to $10,000. If it is any higher the IRS will come down on you.

[Th0r]

you can deposit up to $10,000. If it is any higher the IRS will come down on you.

I've heard myself that it is $5000, but I may be wrong.

[7eleven mafia]

maybe this will offer more insight

http://www.irslevyreleasehelp.com/irs_bank_levy.html

[Darkhunter]

I deposit under 2,000 dollars at a time. I also if needed do the old Poker, Tracks or Slots trick to have an excuse for that amount of money

[Æhµ]

Depositing less than 10,000 over a period of time can still trigger a suspicious activity report all the same. It's called "stacking" or "structuring".

http://www.irs.gov/businesses/small/article/0,,id=154555,00.html

Suspicious Activity Reports (SARs) are one of the government?s main weapons in the battle against money laundering and other financial crimes since these reports generate leads that law enforcement agencies use to initiate money laundering investigations. Many individuals launder money to conceal illegal activity, such as drug trafficking, health insurance fraud, tax evasion, and even terrorism. It fuels criminal conduct, allowing drug dealers, smugglers, terrorists, arms dealers, and tax evaders to maintain control over their proceeds and ultimately to provide a legitimate cover for their sources of income.

Any amount, no matter how small, can still be reported if a teller or bank gets suspicious. Below the SAR is another form called a CTR or Currency Transaction Report, both of these go to the IRS for evaluation as to whether or not to launch a money laundering investigation. It really comes down to how much you deposit over what sort of time frame.

Another MAJOR factor is where the money you are depositing comes from. Cash is considered to be from an unknown source, where as a check from a known and credible institution is considered a known source. A series of paychecks exceeding the 10,000 threshold then will not attract the attention 10,000 in cash will.

The best way to launder money thru banks in the USA is with a variety of SSNs, either use different people or good fakes IDs.

[crazy white guy]

you can deposit up to $10,000. If it is any higher the IRS will come down on you.

this is the number that the banks are legally required to flag it. But for new accounts they will flag for 5000. I was told this by my bank consultant when depositing cash for a RESP.

?h? has the right idea. Many small transfers will make it look like legit income. even more so if you schedule the transfers so they are almost equal payments of the 1st and 15th of the month.

[thief]

You could always open a business account and deposit large amounts that way but if you keep coming into the bank every week on Friday to deposit the same amount $5000 EVERY friday with no variations... then the bells will ring. Im not sure about other countrys but anyting over 1000 Euro and they will ask you where it came from and think no more of it. Anything over 10000 and you need to fill in paper work. If the bell start going off they then will make a report on it and have their own fraud team look into it and if they find anything suspicious they will inform the cops and they will fuck you.

[shadow0000]

With a checking account you use checks to withdraw your money from the account. You may use checks to pay your bills, purchase products and services (at businesses that accept personal checks), send money to friends and family, and many other common uses. You can also use checks to transfer money into accounts at other financial institutions. You have quick, convenient, and, if needed, frequent-access to your money. Typically, you can make deposits into the checking account as often as you choose. Many institutions will enable you to withdraw or deposit funds at an automated teller machine (ATM) or to pay for purchases at stores with your ATM card. :smokin:



__________________
Tax Problems (http://www.taxmatterssolutions.com/)

[Æhµ]

It's not getting the money out that's hard it's getting the money into a bank account. "Unknown source" mean deposits made by cash, money orders, or personal checks. None of those sources can be connected back to a legit business, and consequently raise flags if there is a large number of deposits made by those means. Wire transfers to your account don't look suspicious because that money would have to come from another bank meaning its already been scrutinized as to its source (in your case your bank would consider the source to be the bank initiating the wire). However using WU to wire yourself money does not look legit, nor does depositing a large amount of money using WU or Moneygram checks.

An older trick to take cash and make it appear to come from a legit source is to make a deposit, in cash, for a service or apartment, then cancel the contract a day later. Large companies won't refund a deposit in cash and will instead issue a check for the deposit amount, which you can now take to the bank as it appears to be money you earned from that company. To the bank this money is from a known source and even if it does exceed the SAR limits won't result in your getting flagged. Ask yourself this question and answer it from the point of view of a bank employee: What looks shadier, a guy who looks like a drug dealer depositing a stack of twenty dollar bills every other day, OR a business type who deposits a fat check from GMAC, the credit giant? No one will question a check from GMAC as being from a drug deal or illicit gains. The real trick for the money launderer is how to get an organization like GMAC or any big company to write you a check, and the method above certainly works.

Another way to launder your cash hoard is by using e-gold. Just be sure not to keep any money in an e-gold account because of their new rules after their raid by the feds. You dont want e-gold seizing your money so many small transaction are better than a few big ones.

Step 1: use Davis Company to deposit your money
https://gold-thrift.com/e-gold/buy.html
- Deposit it by buying USPS money orders (No ID needed when buying MOs)
- Deposit it by cash at participating credit unions. As per their rules, cash deposit are made to their account and no ID is needed under 2K.

Step 2: after your funds are deposited into e-gold transfer to WM to break any US federal or UK anti-laundering monitoring.

Step 3: find a market maker that will cash out WM by bank wire, or xfer money back to e-gold and cash out from there by wire. A wire transfer to your account will appear to come from another bank so keeps you clear of suspicion (Of course if you start receiving insane amount by this method you'll still get flagged. The days of e-gold to ATM card are probably over, and companies online that offer those services often turn out to be scams.