Georgia Jury Instruction - Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction
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How to fill out Jury Instruction - Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction?
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FAQ
Structuring involves intentionally (and for the purpose of avoiding detection/reporting) splitting an amount of money rather than depositing it all in one transaction.
A currency transaction report (CTR) is used by banks to report to regulators any currency transaction greater than $10,000. The CTR is part of anti-money laundering efforts that aim to ensure that the money isn't being used for illicit or regulated activities.
To prove cash structuring, the prosecution must show that the defendant intentionally structured their transactions to evade bank reporting requirements. This typically involves demonstrating a consistent pattern of deposits, withdrawals, or transfers that fall just below the reporting threshold.
Federal law requires financial institutions to report currency (cash or coin) transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. These transactions are reported on Currency Transaction Reports (CTRs).
Structuring in money laundering is when criminals make transactions intentionally splitting larger amounts into a series of smaller sums to avoid scrutiny from law enforcement or compliance obligations. In other words, criminals strategically structure deposits just under the threshold to prevent unwanted attention.
A conviction for structuring carries with it a maximum of 5 years in the Federal Bureau of Prisons, a fine, and quite often the draconian process of having their assets forfeited assuming the government can show a nexus between those assets and the crime of conviction.
Structuring in money laundering is when criminals make transactions intentionally splitting larger amounts into a series of smaller sums to avoid scrutiny from law enforcement or compliance obligations. In other words, criminals strategically structure deposits just under the threshold to prevent unwanted attention.
Examples of structuring may include: A bank customer depositing several transactions under $10,000 each over a period of several days. A gambling customer cashing in their winnings across two portions that together would breach the $10,000 threshold.