[JOAT]

The bank then, as is required by law, filed an SAR, or Suspicious Activity Report, with the Internal Revenue Service, reporting the transfer of the money that exceeded $10,000, but had been broken down into smaller amounts, the sources said.

As attorney general you'd think he wouldn't be so naive and stupid.

IRC, patriot act 2 dropped this dollar amount to 5K anyway.

What a stupid schmuck.

[PGalt]

Hooray bank employee/management! Hooray IRS! America’s finest!

[TornadoAlley3]

[tsmith130]

Man, someone had a large set of nads at that bank! Can you imagine turning in the Governor of NY?

[BGHater]

Spitzer sucks.

But banks are turning you in for the way your gonna handle you own money. Silly. Why not drop it to $1000. This is getting crazy.

[goldstategop]

Yep. He structured the cash transfers to avoid the reporting requirements. The Governor of New York - didn't know what the law said? He was really dumb.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[InvisibleChurch]

You’d think the libs would howl over 5,000$ to a hooker would be an outrageous amount; money better served being taken from him and thrown down the entitlement hole.

[Constitutions Grandchild]

Boy! Ven tings go wrong!

[billorites]

When trading with prostitootsies...

You can't be too careful.

[AmericaUnited]

As attorney general you'd think he wouldn't be so naive and stupid.

Supreme arrogance makes people like Spitzer think the rules don't apply to them.

"I have to abide by that rule?! Do you know who I am?!"

[Brilliant]

I always thought those regulations were bad government, but if they took out Spitzer, I stand corrected.

[USFRIENDINVICTORIA]

If Wall St. bankers weren't such a bunch of old softies, I'd wonder whether this was payback for Spitzer’s campaigns against them.

[Shermy]

“according to sources familiar with the investigation.”

I doubt it.

More likely he got caught up in an investigation of the ring.

He was “Client # 9” not “Client # 1”

[The_Republican]

Sounds like if he didn’t make the call, they wouldn’t have cared.

[Petronski]

They ratted yuz out. They ratted yuz all out...

[Kozak]

Nailed by Patriot Act.

Ergo Bush's fault!

[Proud_USA_Republican]

I work for a bank and right now involved in the rollout of their new AML monitoring system. Spitzer must of been moving a lot of large sums around because there are special watch lists for PEP (politically exposed persons) that are scored very differently than your average bank customer.

The schmuck must of really got sloppy considering how much experience he had in dealing with fraud and money laundering.

[KoRn]

/mark

[popdonnelly]

“the transfer of the money that exceeded $10,000, but had been broken down into smaller amounts, the sources said.”

What is known as structuring - breaking up cash among various banks to avoid the cash limit.

[commonguymd]

Hmmm... Wonder if those irs folks are lookin at me? I guess I didn’t know about these rules.

[monday]

“IRC, patriot act 2 dropped this dollar amount to 5K anyway.”

Which means that pretty much anyone could become the subject of an IRS investigation and the paperwork for banks is going to be huge. The US is morphing into a police state before our eyes. Does anyone doubt that a Democrat administration will use the Patriot act via the IRS to attack it's political enemies?