Eisboch wrote:
"Short Wave Sportfishing" wrote in message
...
On Wed, 12 Mar 2008 07:36:39 -0400, "Reginald P. Smithers III"
"Reggie is Here wrote:

I don't know. Lately, I've been reading about PEPs (politically exposed
people) and SARs (suspicious activity reports). It seems since 9/11,
banks have been using software to spot suspicious activities. The
irony,
is Spitzer, as AG, put pressure on the banks to have more
accountability.

http://www.newsday.com/news/local/st...,4637246.story
While $10,000 might not trigger an investigation for everyone. My
colleague who is very well "connected" in NYC, told me that any well
connected person should know that anytime a politician transfers a large
amount of money, it will definitely trigger an investigation, no matter
who they are or what party they are affiliated with. It would not matter
if it was the governor of NY, or the mayor of Paducah or the police
chief of Highland Beach, Md.

My very well connected friend told me they are concerned about illegal
payoffs, bribes, and payola and they definitely would follow up any
politician making those large transfers. My friend was not speculating,
he was just calling it like it is.
There is no $10,000 limit. There isn't a set amount.

It's all software looking for patterns. Which is the exact thing that
Spitzer used to get his bad guys.

The irony is that he didn't understand the system enough to avoid
getting caught himself.


I have been under the impression that a "movement" of 10K or above triggers
a report by the bank to some agency .... I think the IRS. It may not
trigger an investigation for most of us, but my understanding is that it is
still "reported". It has nothing to do with additional surveillance due to
9/11.

Eisboch



The $10,000 is an automatic trigger, but the banks are also required to
report anything they deem is suspicious. All banks have someone who is
in charge of reviewing transactions for suspicious activity. I would
not be surprised if it is now done with software either by the banks or
reported into a national database.