[Fresh Wind]

It was all perfectly legal but the Feds didn't think so.......

Actually, it's not legal. Making repeated cash deposits/withdrawals just under the $10K limit is called "structuring" and is prohibited under the Bank Secrecy Act.

There are a lot of problems with that law, but it is the law nevertheless.

[cuban leaf]

Actually, it’s not legal. Making repeated cash deposits/withdrawals just under the $10K limit is called “structuring” and is prohibited under the Bank Secrecy Act.

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That is simply not true

It’s only illegal if you are doing it specifically to avoid the reporting requirement.

https://www.offshorelivingletter.com/structuring-cash-deposits-illegal/

It is perfectly legal to make $9,900 deposits every day for a year or decade if that is just the money you have on hand.

[marktwain]

Actually, it's not legal. Making repeated cash deposits/withdrawals just under the $10K limit is called "structuring" and is prohibited under the Bank Secrecy Act.

There are a lot of problems with that law, but it is the law nevertheless.

No, it is not. It is only illegal if the purpose of the repeated deposits/withdrawals is to avoid reporting.