News

A small bodega in a Texas border town dealing solely in cash and depositing modest profits into its local bank suddenly triples its monthly revenue. A high net worth client of a large commercial bank in Miami begins making $9,000 cash deposits into his business account. A potential customer wants to open an account with a small community bank into which she will deposit $1 million in cash every month. All three scenarios would merit compliance scrutiny and raise questions of whether the banks involved should accept the deposits at all. But while high-dollar cash transactions can be at risk...