Our money is not our own.
A friend of mine got into this situation because he withdrew $9500 from his bank account. He was wanting to use it to buy items in CASH to get a better deal.
The bank turned his name over to the Feds and they pounced on him. After having to prove everything he did and who knows how much in attorney fees they finally dropped the charges against him.
Innocent until proven guilty? Pffft.... that went down the tubes a long time ago. I hate these people. Nothing but thieves and tyrants.
Some skeptics of the federal bank reporting requirements have criticized the federal indictment, describing it as an effort to punish Hastert for alleged sexual crimes that can’t be charged now because any statutes of limitations has passed. However, courts have upheld the use of the law even in cases in which the government makes no allegation of wrongdoing besides the way the cash transactions were broken up.
Read more: http://www.politico.com/story/2015/10/dennis-hastert-hearing-214813#ixzz3oeMt68yw
I withdrew $35,000 in cash and told the banker I wanted a copy of the CTR (Form 112 (formerly Form 104) Currency Transaction Report (CTR): A CTR must be filed for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through or to a financial institution, which involves a transaction in currency of more than $10,000.) so I could prove the cash was mine. He said it was all electronic and he was not allowed to discuss it.
The problem is when you structure the transactions to avoid the reporting.