[circlecity]

"The currency violations are the result of withdrawals from several bank accounts by Hastert over a two year period that exceeded the $10,000 limit on withdrawals which that needed to be reported under the law."

What??? I though "structuring" involved bank transactions of just UNDER $10K with the intent of evading the reporting requirements which kick in on transactions of $10K or more.

[Shamrock498]

the story isn’t well written. he made several withdrawls above the 10k limit and when questioned by bank officials, which they are required to do, he immediately began making <10k withdrawls from then on. it’s the “from then on” part that is illegal

[b4its2late]

You're right. That is structuring, which is multiple transactions to evade the CTR filing.

The over $10,000 deposit or withdrawal in cash would cause to generate a CTR and possibly an SAR. Structuring would cause to generate an SAR.

[trebb]

"The currency violations are the result of withdrawals from several bank accounts by Hastert over a two year period that exceeded the $10,000 limit on withdrawals which that needed to be reported under the law." What??? I though "structuring" involved bank transactions of just UNDER $10K with the intent of evading the reporting requirements which kick in on transactions of $10K or more.

And....isn't it the institution's responsibility to report withdrawals/deposits of more than $10K?

[Mr. Jeeves]

What??? I though "structuring" involved bank transactions of just UNDER $10K with the intent of evading the reporting requirements which kick in on transactions of $10K or more.

"Structuring" today seems be defined as engaging in cash transactions of any amount without prior written permission from the Federal Government. :)

[Eagles6]

Doesn’t matter. Whatever you did gives them an excuse.