Cryptocurrency Q&A
Is it a red flag to deposit cash?
Is it a red flag to deposit cash?
SakuraPetal
Wed Oct 30 2024
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6 answers
1708
I'm depositing some cash into my bank account. However, I'm concerned that depositing cash might be seen as a red flag by the bank or financial institutions. Is this true?
6 answers
ethan_thompson_psychologist
Fri Nov 01 2024
Even if individual deposits are slightly below the $10,000 threshold, such as several deposits over $9,800, they can collectively trigger suspicion.
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Dario
Fri Nov 01 2024
Banks are required to monitor such patterns of deposits closely.
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Chiara
Fri Nov 01 2024
When such transactions are detected, banks must report the activity to the Financial Crimes Enforcement Network (FinCEN).
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DreamlitGlory
Fri Nov 01 2024
Financial transactions that draw attention are not solely limited to single large cash deposits.
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amelia_martinez_engineer
Fri Nov 01 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of traders and investors.
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