I’m surprised that something like this hasn’t happened here yet.
Hehehe... you’re being silly, aren’t you.
It happens in America all the time. The only difference is, that if it had happened in the US, the cops would be 20 jackbooted, nomex-clad strumtruppen, they would have smashed down his door, and shot his dog.
Try transporting 10k or more of your own cash via commercial air in the US and see what happens.
Well, any cash transaction over 10K has to be reported to the IRS.
Must have happened in a country like Norway. The “suspect” didn’t lose several teeth being slammed to the floor and his dog hasn’t been shot.
you really think it hasn’t?
Actually it happens everyday in a little bit of a different way. US Military retirees living in the Philippines must prove the source of funds used to pay for their medical bills. Tricare demands that for all medical bills of $500.00 or more the retiree must, (in addition to the Official Receipt showing the bill was paid in full), provide proof of the source of the funds used to pay the medical bill. This means that the retiree must withdraw the funds from the bank so that there is a paper trail for the source of funds.
Many retirees maintain a home safe with a few thousand dollars for emergency needs since you can’t get admitted to a hospital without making a large deposit and must pay the hospital bill in full before they will allow you to be discharged, (and they can physically restrain you from leaving the hospital until the bill is paid).
Checks and credit cards are not universally accepted or used in the Philippines since this is a cash and carry society. Thus, the retiree has to go to the bank and withdraw the funds prior to, or during the hospital stay in order to be able to prove the source of funds. Failure to do so will result in denial of Tricare reimbursement for the medical care, (less the retiree’s 25% co-pay and deductible).
Don’t worry. It will ... and has.
It’s coming. Just a matter of time.
It does. Except in America you go to prison.
http://www.tba.org/journal/dividing-your-deposits-is-a-federal-crime
Or the police can just take it for no reason
http://www.newschannel5.com/story/18241221/man-loses-22000-in-new-policing-for-profit-case
It has, usually all his bank and other assets would be seized first, then he would have to prove his innocence.
Economically, is makes sense to have a large physical cash position, in the event of an emergency. But if you do, be careful, you are now a target for asset seizure.
It happens all the time... If you happen to be carrying several thousand dollars in cash and get pulled over by the cops, you can bet that they'll detain you, "arrest the money," and send you on your way. Then you get to go to court and sue to government to try to get your money back. Good luck.
It's all part of the asset forfeiture industry brought on by "The War on Drugs" (TM). If you're carrying cash, you must have either gotten it in an illegal transaction, or will be using it in an illegal transaction, and you will have to prove to the government that isn't the case. And the government gets to keep the money if you can't prove it to their satisfaction.
Mark
You haven't heard of civil asset forfeiture? There have been stories of police confiscating cash on traffic stops, especially from migrant workers, some legal.