Banking red flags? How much $$$ will trigger a flag?

[tedtodd]

I'm about to withdraw $10,000 from a poker site, and I'm wondering whether I should do it in smaller chunks to avoid red flags?

I've been a bit liberal with some business tax write-offs, so I'd really like to avoid anything that may trigger an audit. They're legit, but there's some gray area that I'd rather not have to go through.

So what's considered 'suspicious activity'?

[BradleyT]

Activity that isn't normal. So if you don't regularly get 10K in from account xxx you'll probably get flagged.

Here are some FinCEN guidelines that may trigger unusual activity.

Examples of some common patterns of suspicious activity are:
• a lack of evidence of legitimate business activity, or any business operations at all,
undertaken by many of the parties to the transaction(s);
• unusual financial nexuses and transactions occurring among certain business types (e.g.,
food importer dealing with an auto parts exporter);
• transactions that are not commensurate with the stated business type and/or that are
unusual and unexpected in comparison with the volumes of similar businesses operating
in the same locale;
• unusually large numbers and/or volumes of wire transfers and/or repetitive wire transfer
patterns;
• unusually complex series of transactions indicative of layering activity involving multiple
accounts, banks, parties, jurisdictions;
• suspected shell entities;
• bulk cash and monetary instrument transactions;
• unusual mixed deposits of money orders, third party checks, payroll checks, etc., into a
business account;
• transactions being conducted in bursts of activities within a short period of time,
especially in previously dormant accounts;
• transactions and/or volumes of aggregate activity inconsistent with the expected purpose
of the account and expected levels and types of account activity conveyed to the financial
institution by the accountholder at the time of the account opening;
• beneficiaries maintaining accounts at foreign banks that have been subjects of previous
SAR filings;
• parties and businesses that do not meet the standards of routinely initiated due diligence
and anti-money laundering oversight programs (e.g., unregistered/unlicensed businesses);
• transactions seemingly designed to, or attempting to avoid reporting and recordkeeping
requirements;

[SomethingClever]

If you break the withdrawl into smaller pieces, you will be guilty of structuring, a crime in and of itself.

Just withdraw it all at once and pay your taxes.

[bav]

A $10K EFT ain't no great shakes. Just do it. Hopefully you ARE declaring your gambling wins and losses legally on your taxes, and if as you say your other tax stuff is legit you really have no worries. If you are cheating on your taxes it's probably best not to be asking for advice on how to do it.

[mo42nyy]

Pay your taxes- but not for moral reasons like a lot of clown on this site will tell you (not neccasarily in this thread) but so you dont get your cornhole rammed in jail.

[tedtodd]

[ QUOTE ]
Pay your [censored] taxes



[/ QUOTE ]

Thanks. Don't worry. I'm paying my taxes, I'm just trying to avoid any additional scrutiny from the IRS. I declare my winnings, but I think some of my tax write-offs raise flags themselves, so I thought this could be a simple way to avoid future problems.

I appreciate the input.

[SossMan]

the 10k magic number is only for Cash Transactions. wires, eft's...none of that counts in terms of doing a CTR (currency transaction report).

[doh742]

i work for a large bank that trains us in detecting laundering. 10,000 or greater will trigger a mandatory activitiy report.