No the last time I withdrew in excess of $10k in cash I had to talk to the bank officer first who asked me what it was for (this seemed to be required on her part) and I had to sign some paperwork.
I thought $10k to start the suspicions, questions and paper work. You could withdraw $999 with out a problem. I think I got that from info being put out after 9/11. I could be wrong.
> No the last time I withdrew in excess of $10k in cash I had to talk to the bank officer first who asked me what it was for… <
That might seem like an intrusion, but it’s actually a good thing.
Scammers are now running very sophisticated scams where the victim is made to believe that he owes Amazon, or the IRS, etc. a large sum of money.
The victim is told to withdraw the money, go to a Bitcoin machine, and send the scammer the money via Bitcoin. Sometimes the victim is told to buy gift cards instead.
You’d think no one would fall for that. But unfortunately, many do.
That had nothing to do with a Treasury report. The account holder never sees those. They are never informed about them.
I managed banks. I know about this stuff.
That is a bank liability policy. It is because people pay money to fraudsters and get clubbed over the head when they walk out of the bank with a lot of cash.