Re: The Continued Attack on Cash (Was: "The Right of Anonymity"...)

At 06:07 PM 2/2/98 +0000, Attila T. Hun wrote:
>    I did-- tried to lay $14K out for a Mercedes (25 years ago).
>    they wouldnt take it.  so I went and picked up two $7K
>    cashiers from two different banks.  same thing with a pair
>    of Lycoming IO540 aircraft engines:  2 8s and a 9 --stay
>    under the $10K transaction.

Careful.  This may well be illegal now.  Structuring transactions to avoid
reporting requirements is a felony.
  

(I'm not on cpunks, mail me).

At 3:52 PM -0800 2/2/98, Black Unicorn wrote:
>At 06:07 PM 2/2/98 +0000, Attila T. Hun wrote:
>>    I did-- tried to lay $14K out for a Mercedes (25 years ago).
>>    they wouldnt take it.  so I went and picked up two $7K
>>    cashiers from two different banks.  same thing with a pair
>>    of Lycoming IO540 aircraft engines:  2 8s and a 9 --stay
>>    under the $10K transaction.
>
>Careful.  This may well be illegal now.  Structuring transactions to avoid
>reporting requirements is a felony.
>

Maybe illegal _now_, but Attila didn't say _when_. Further, even our former
prosecutor, Brian, told us that prosecutions are only made when some larger
crime is involved.

(For example, if I made two sub-$10K deposits or withdrawals, and then
later _admitted_ this was to bypass reporting requirements, *BUT* no real
criminal activity or tax evasion was involved, no prosecutor in the land
would bother with something so transparently trivial as this. Unless, of
course, they saw an opportunity to take a thought criminal off the streets.
Which is why I don't describe my financial transactions here.)


>
>(I'm not on cpunks, mail me).

Sorry, if you want to read my words ya gotta subscribe.

--Tim May



The Feds have shown their hand: they want a ban on domestic cryptography
---------:---------:---------:---------:---------:---------:---------:----
Timothy C. May              | Crypto Anarchy: encryption, digital money,
ComSec 3DES:   408-728-0152 | anonymous networks, digital pseudonyms, zero
W.A.S.T.E.: Corralitos, CA  | knowledge, reputations, information markets,
Higher Power: 2^2,976,221   | black markets, collapse of governments.
"National borders aren't even speed bumps on the information superhighway."

Tim May <tcmay@got.net> writes:

> At 3:52 PM -0800 2/2/98, Black Unicorn wrote:
> >At 06:07 PM 2/2/98 +0000, Attila T. Hun wrote:
>...
> >(I'm not on cpunks, mail me).
>
> Sorry, if you want to read my words ya gotta subscribe.

Let's collect Timmy's words of wisdom for posterity.

---

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

At 3:52 PM -0800 2/2/98, Black Unicorn wrote:
>At 06:07 PM 2/2/98 +0000, Attila T. Hun wrote:
>>    I did-- tried to lay $14K out for a Mercedes (25 years ago).
>>    they wouldnt take it.  so I went and picked up two $7K
>>    cashiers from two different banks.  same thing with a pair
>>    of Lycoming IO540 aircraft engines:  2 8s and a 9 --stay
>>    under the $10K transaction.
>
>Careful.  This may well be illegal now.  Structuring transactions to avoid
>reporting requirements is a felony.
>
Some of the reporting requirements have been changed last year
from $10,000 to $750. Check out <http://jya.com/fc052197-3.htm>

>May 21, 1997
>
>SUMMARY: The Financial Crimes Enforcement Network (``FinCEN'') is
>proposing to amend the regulations implementing the Bank Secrecy Act to
>require money transmitters and their agents to report and retain
>records of transactions in currency or monetary instruments of at least
>$750 but not more than $10,000 in connection with the transmission or
>other transfer of funds to any person outside the United States, and to
>verify the identity of senders of such transmissions or transfers. The
>proposed rule is intended to address the misuse of money transmitters
>by money launderers and is in addition to the existing rule requiring
>currency transaction reports for amounts exceeding $10,000.


-- Marshall

Marshall Clow     Adobe Systems   <mailto:mclow@mailhost2.csusm.edu>

Warning: Objects in calendar are closer than they appear.

On Mon, Feb 02, 1998 at 04:46:19PM -0800, Tim May wrote:
> At 3:52 PM -0800 2/2/98, Black Unicorn wrote:
> >At 06:07 PM 2/2/98 +0000, Attila T. Hun wrote:
> >>    I did-- tried to lay $14K out for a Mercedes (25 years ago).
> >>    they wouldnt take it.  so I went and picked up two $7K
> >>    cashiers from two different banks.  same thing with a pair
> >>    of Lycoming IO540 aircraft engines:  2 8s and a 9 --stay
> >>    under the $10K transaction.
> >
> >Careful.  This may well be illegal now.  Structuring transactions to avoid
> >reporting requirements is a felony.
> >
> 
> Maybe illegal _now_, but Attila didn't say _when_. Further, even our former
> prosecutor, Brian, told us that prosecutions are only made when some larger
> crime is involved.
> 
> (For example, if I made two sub-$10K deposits or withdrawals, and then
> later _admitted_ this was to bypass reporting requirements, *BUT* no real
> criminal activity or tax evasion was involved, no prosecutor in the land
> would bother with something so transparently trivial as this. Unless, of
> course, they saw an opportunity to take a thought criminal off the streets.
> Which is why I don't describe my financial transactions here.)
> 
> 
> >
> >(I'm not on cpunks, mail me).
> 
> Sorry, if you want to read my words ya gotta subscribe.

That's precisely his point,isn't it?

-- 
Kent Crispin				"No reason to get excited",
kent@songbird.com			the thief he kindly spoke...
PGP fingerprint:   B1 8B 72 ED 55 21 5E 44  61 F4 58 0F 72 10 65 55
http://songbird.com/kent/pgp_key.html