US Banking Laws

I'm looking for someone very familiar with US banking practices and what raises red flags. I have been cashing checks made out to cash and then depositing the cash at a different ATM.

The amounts are always less than $5k. Am I breaking any laws or establishing any type of pattern that the bank/law enforcement will pick up on?

I have done as much of my own homework as possible before posting this on Reddit, hope the community has some definitive answers!


Comments


[5 Points] DEA-VAN-024:

Do you have a legal source of income to help justify these deposits? Also you are "structuring" these deposits which raises red flags. Smaller amounts deposited in a certain amount of time to hide a large deposit can raise just as much suspicion as a 10k deposit. Source: Brother is a teller at a bank


[3 Points] Thethrowawayyy000:

US Government imposes fines on banks for not filing SARS reports on suspicious customers. If someone is arrested with any decent amount of money in assets and no SARS was filed then that person's bank is fined. And these are massive fines as well. Like easily double the book value of assets siezed/in account.


[1 Points] throwawayforobvio87u:

ive withdrawn over 5k and they ask for a form to be filled out.


[1 Points] mrpotatoes711:

They keep track of shit between the 3-5K range, yes that includes you coming in with a stack of 10s and 20s exchanging for 100s. Things you needs to learn about: CTR, SAR, declaring income as an independent contractor, setting up a small business account.


[1 Points] thr0wawaay2:

https://www.reddit.com/r/DarkNetMarkets/comments/2yw2h6/cryptocurrencyat_what_amount_does_a_bank_look/cpdj2sb


[1 Points] DabloEscobarGavira:

Always under $5k and 8 days apart, you'll never be on anyone's radar. Have an explanation if you're ever asked, side business building computers or some such. You won't be challenged at all, they don't care, it's not enough money to be interesting