1996-12-24 - RE: Legality of requiring credit cards?

Header Data

From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
To: cypherpunks@toad.com
Message Hash: d071119a1af2a167d70bead96e6ec4d41189036bedb7cb833eb8178e7ec2b095
Message ID: <94egZD72w165w@bwalk.dm.com>
Reply To: <c=US%a=_%l=TGIEXCH-961224155706Z-2446@TGIEXCH.terraglyph.com>
UTC Datetime: 1996-12-24 18:50:43 UTC
Raw Date: Tue, 24 Dec 1996 10:50:43 -0800 (PST)

Raw message

From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
Date: Tue, 24 Dec 1996 10:50:43 -0800 (PST)
To: cypherpunks@toad.com
Subject: RE: Legality of requiring credit cards?
In-Reply-To: <c=US%a=_%l=TGIEXCH-961224155706Z-2446@TGIEXCH.terraglyph.com>
Message-ID: <94egZD72w165w@bwalk.dm.com>
MIME-Version: 1.0
Content-Type: text/plain

Mike Topalovich <TOPALOVICH@terraglyph.com> writes:
> It's not necessarily because you are paying with $100 bills.  The IRS
> requires banks and other businesses to report all cash transactions
> exceeding $10,000 by means of a Currency Transaction Report (CTR).  This
> is a way for the IRS to track money laundering.  There happens to be two
> lines on the form asking for the number of $50 and $100 bills, but those
> lines are optional.

They're supposed to report "suspicious" cash transactions under 10K too.


Dr.Dimitri Vulis KOTM
Brighton Beach Boardwalk BBS, Forest Hills, N.Y.: +1-718-261-2013, 14.4Kbps