How To Carry More Than $10,000 Cash Across the Border Without Having to Report It
Follow TIS on Twitter: @Truth_is_Scary & Like TIS of Facebook- facebook.com/TruthisScary
There is apparently a loophole that allows this to be done.
In 2011, amid a crackdown on international money laundering, the U.S. Treasury Department tried to close a loophole that authorities said allows drug cartels to move bulk cash across borders on gift and other prepaid cards, reports Reuters.
The department’s Financial Crimes Enforcement Network proposed that money stored on these cards count toward a U.S. requirement to report cross-border movement of cash of $10,000 or more.
But FinCEN later withdrew its proposed rule after pushback from the prepaid card industry, according to law enforcement sources, says Reuters.
The move has not been previously reported.
In response to questions from Reuters, FinCEN spokesman Stephen Hudak said the rule was being reworked and would be resubmitted, possibly by 2017.
“It’s not dead,” Hudak said.
“Implementing onerous requirements on reloadable prepaid cards could disproportionately harm vulnerable consumers, who rely on these products as their sole means of access to the financial services system,” said Brad Fauss, President and CEO of the Network Branded Prepaid Card Association.
In March 2013, two years after FinCEN proposed amending the Bank Secrecy Act with the new rule, industry representatives met with officials from FinCEN and the Department of Homeland Security at the Office of Management and Budget, which reviews regulations, according to a record of the meeting topic, date and attendees published on a White House website.
Source: http://truthisscary.com/2016/08/how-to-carry-more-than-10000-cash-across-the-border-without-having-to-report-it/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,856,888 |
| Stories: | 8,451,381 |
Whistler Blowers, Insiders
