” It’s just that the banks are required to report transactions over $10,000. And amounts that approach that limit are flagged by...the IRS I believe. “
Federal law. As for amounts below $10,000, banks are required to report suspicious transactions that appear to evade the limit such as depositing $9,900 multiple times.
Some banks have been too strict reporting businesses making daily deposits from their sales.
It is called “Structuring”, and it is what they nailed former Speaker of the House Dennis Hastert with. He paid off bribes, with his own money. But he tried the “hide” the payments from the banks reporting to the government moving sums of his own money. We have been living under soft tyranny for many years now.