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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

"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"

That's what I assumed when I first heard the story. Looks like he should have just kept taking out more than $10K and just told the bank it was for personal reasons.

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

I can understand that making lots of cash deposits under $10k can raise suspicion of tax evasion, but withdrawals? I don't think either activity, especially withdrawals, is actually "illegal".

What if you get diagnosed with some disease, and are given a year to live. Can't you start withdrawing wads of cash and go live it up at a casino and squeeze in a little fun with your hard-earned savings while you're on your way out? Is that illegal now?