Yep, I work in a casino, and we have a new position just filled for a "Title 31 specialist". Not knowing what that was, I looked it up. It's the enhanced version of the currency transaction reporting requirements that used to stipulate reporting cash transactions over $10,000.
Now, the trigger point is $3000, and you just don't give a name and SS# anymore. Your address, DOB, race, eye and hair color, height, weight, build, etc. etc. are listed on a form, which is presumably given to the IRS/DEA/FBI/INS, et al.
Who could possibly keep track of all that information comeing from every corner of the United States every day. Imagine how often a $3000+ trasaction is completed in the U.S every day.
Reminds me of when we were buying our new home a few years ago. The loan company asked my hubby and I if we got our down payment money from selling drugs!
I was stunned, and thought she was being funny, but she assured me she was dead serious. The government required that we answer that question!
The transaction was over $10,000 of course. I am even more surprised to hear they have lowered it to $3000!
Now, the trigger point is $3000, and you just don't give a name and SS# anymore. Your address, DOB, race, eye and hair color, height, weight, build, etc. etc. are listed on a form, which is presumably given to the IRS/DEA/FBI/INS, et al. O say, does that star-spangled banner yet wave
O'er the land of the free and the home of the brave?
When I read stuff such as this it sure makes be wonder if it does.