From: daw@cs.berkeley.edu (David Wagner)
Date: Fri, 16 May 1997 05:42:22 +0800
To: cypherpunks@cyberpass.net
Subject: Reporting threshold for NY money transfers lowered
Message-ID: <5lfvc8$2m0@joseph.cs.berkeley.edu>
MIME-Version: 1.0
Content-Type: text/plain


I thought this might be of interest to cypherpunks:

The threshold for reporting New York money transfers was apparently
quietly lowered to $750 last month.  Looks like all it took was one
order signed by one Treasury official -- eek.  Can they lower the
$10k cash threshold just as easily?

*  NYT Sunday April 13, 1997
*  
*  U.S. Seizes $5.6 Million Hidden in a Truck on Way to Mexico
*  By Sam Dillon
*  
*  Mexico City, April 12 - United States officials said today that
*  $5.6 million discovered this week in a truck about to cross into
*  Mexico from El Paso was the largest cash seizure in memory along
*  the southwest border.
*  [snip]
*  
*  ...probably the proceeds of street drug sales...
*  [snip]
*  
*  Officials have seen a big increase in cash seizures lately...
*  [snip]
*  
*  In [another] case the authorities believe the traffickers
*  chose to move the cash south out of New York in bulk by
*  car because of an order signed by Mr. Kelly [Treasury
*  Under Secretary Raymond W. Kelly] which required New York
*  businesses transmitting cash to report all transactions
*  over $750.
*  
*  Although the order was not announced, word spread quickly
*  among traffickers, and a dramatic drop in money wires to
*  Colombia followed, along with a sharp increase in seizures
*  of cash along the eastern seaboard.

Thanks to <guy@panix.com> for forwarding.