Silk Road forums
Discussion => Security => Topic started by: Posivibes on July 17, 2012, 09:05 am
-
Hey guys
I am going to be doing a fairly big deal with someone close to me. I have the product in hand already. Anyway the value is about 6500$. He doesnt want to do an actual bank transfer because he doesnt want the government to know how much money is in his account.
Ive -never- made a large deposit worth this much into my account. Would this be suspicious to have a one time deposit into my account? Is this amount large enough to need to justify an explanation? Or can he walk in with my bank info and treat it as if its a 500$ rent deposit kind of thing but with 6500$ instead of 500$ haha.
I remember hearing somewhere that only amounts over $10,000 call for extra security measures but who knows.
Thanks
-
Sounds alright to me, alternatively you can turn them into bitcoins till you need them.
-
It's under $10k, it won't be reported.
Look up "Bank Secrecy Act" on wiki, it explains the various rules that banks have to follow. If it's more than a $10k deposit, the bank will have a CTR (Cash Transaction Report) filed and will report to the IRS.
If there are any eyebrows raised, just tell them you sold a car....that's what I always do with large deposits.