2. IRS Computer doesn't catch it (at least in real time) and sends you $12.21 million in refunds. In fact, they might not catch it for years.
3. That is YOUR money as far as Chase, BOFA or whatever bank is concerned. Now transfers might the problem since transferring millions to Russia or any country will get the three-letter agencies talking to each other (after the bank files suspicious activity reports.) What...he got a $12.21 Million in tax refunds...???
Yes, and what you are describing is another type of report that is distinct from a “suspicious activity report”. The limit report you described is a hard threshold requirement. This is not the same report as the “suspicious activity report.”
As you know, the suspicious activity report is completely subject to the bank’s discretion.
The latter is required; the former is also “required” but more nebulous (it’s only a problem if there is some incident and then during an investigation, look back and it turns out the bank didn’t file the report, creating a convenient scapegoat in an otherwise difficult case).
2. IRS Computer doesn't catch it (at least in real time) and sends you $12.21 million in refunds. In fact, they might not catch it for years.
3. That is YOUR money as far as Chase, BOFA or whatever bank is concerned. Now transfers might the problem since transferring millions to Russia or any country will get the three-letter agencies talking to each other (after the bank files suspicious activity reports.) What...he got a $12.21 Million in tax refunds...???