It doesn’t matter if you deposit multiple amounts less than $10,000; if you’re your total transactions exceed $10,000 in any given day, you can be reported to federal agencies and subjected to surveillance, questioning, or even convicted of a crime.
Worse yet, did you know that the federal government can seize your bank account and all your digital funds if they determine that your transactions are suspicious activity?
Under the US Patriot Act, banking institutions are legally required to work hand in hand with the government to report so-called suspicious activity. Removing all your money from the bank in one day is grounds for suspicion.
Banks are required by law to file a Cash Transaction Report (CTR) if you withdraw or deposit $10,000 or more in any single day. When filing a CTR, financial institutions obtain personal identification, information about the transaction and the social security number of the person conducting the transaction.
While trying to crack down on money laundering, the federal government inadvertently creates criminals out of innocent people with this reporting requirement. It doesn’t matter if you are trying to buy a car with cash or pay off an old debt; if you withdraw more than $10,000, you can be put under the watch of federal authorities.
Worse yet, you could possibly be interrogated and convicted of the crime for merely accessing your own cash. This is what happened to Speaker of the House, Dennis Hastert who was indicted and convicted, for simply taking his own money out of his personal bank account.
Banking employees are given certain criteria in order to seek out suspicious activity. It is a federal crime to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement. You could be convicted of structuring violations. For example, if you try to deposit just less than $10,000, you could be reported. If you try to space out large transactions over the course of a few days, banking institutions can catch on and deem your activity suspicious, too. If a banking institution determines you are trying to subvert their threshold requirement, they are legally required to file a Suspicious Activity Report (SAR). You could be turned over to federal authorities for merely trying to comply with their insidious rules! If they determine you structured your transactions to prevent a CTR, you can face imprisonment of more than five years and/or a fine of up to $250,000.
In the land of the free, your money is not your own and you are not free to do business as you please. Here are a few tips on how to take your own money out of the bank without being arrested for violating absurd money laundering laws.
If your money is not safe in a bank and you are not free to access it as you please, then why deposit it there anyway? When you take a paycheck to the bank, only deposit what you need in order to pay your monthly bills. Cash the remainder and stash the untraceable dollars away in a safe place outside the bank, away from federal oversight.
Realize that the value of the dollar is diminishing and that the US government is operating on a façade — a $20 trillion dollar deficit, with an additional $240 trillion in unfunded liabilities (Social Security and Medicare). As dollars become worthless, convert them over to tangible assets and precious metals. Invest in items that will hold their value and cannot be traced. Invest in your health and your skills. In the event of a monetary collapse, a stockpile of tangible assets can save your life. (RELATED: For more, visit Collapse.News and Preparedness.News)
Even though banking institutions communicate back and forth, it is better to bank with multiple institutions rather than putting all your deposits into one place. This will reduce the chance that a single bank employee flags your activity.
If you have a large amount of money in the bank and want to take it out, do it slowly over time. Pay off debts and other expenses with checks to slowly reduce your checking account balances. Keep cash transactions to yourself and build up a savings account off the grid. Sell things you don’t need and stash the cash.
If you have a large deposit to make, break up the deposit into smaller amounts and deposit the money over a longer duration of time. Don’t deposit over $10,000 over the course of a few days. This could be deemed suspicious too. Instead, plan ahead and make irregular deposits over the course of weeks. Smaller, irregular transactions are harder to substantiate in court.
Don’t trust banking employees, even tellers. They are trained to report your activity. It is required by law that they go by the books and report your activity when it exceeds thresholds or seems suspicious. Banking employees talk and can conjure up absurdities about you. If you think you can deposit $5,000 with one employee in the morning and deposit another $5,000 with a different employee in the afternoon, think again. The banking employees can easily work together and look up your information to determine that your activity is suspicious. Some banking employees derive a sense of purpose or power when looking for suspicious activity; therefore they can easily turn innocent people into criminals.
If you ever come under federal investigation for accessing your money, do not talk to federal agents unless the interview is videotaped with an attorney present. Federal agents can determine that you lied or misled them and then have you imprisoned on that basis alone.