When more than $10,000 in cash is either put in or taken out of a bank or other financial institution it must be reported to the government, possibly leading to the same results.
Possibly, but not with the same self serving intent as with a law enforcement agency. Law enforcement stands to put that money in their own pockets (budget) by confiscation of money claimed to be "drug money". There is a definite conflict of interest built into the law. Such confiscation should be limited to cases where a felony conviction is obtained and the trial includes incontrovertable evidence that the money was derived from the sale of illegal drugs. As observed by another post, confiscations routinely occur in cases where no charges are ever filed. The standard of proof is too lax. It tramples all over personal property rights without due process of law.
Also the pressure to put cash in the banks for these reasons, benefits the banks; when you deposit money, it becomes a liability to the bank, a limited liability; if the bank fails, you have to wait in line while the bankrupcy process works, and all the creditors are paid, you being one. You may get your money or may not. You lose control over it when it is in the banks that you had when you held the cash. Most banks don't go under and are safe. But who knows? In 2002 the Argentines found out just how safe their money was not-in their banks.
You got it. Some have to travel back to a casino 5 plus times to cash in chips to avoid that crap.