financial transactions

An overview of federal money laundering statutes

February 6, 2011
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The United States government keeps close watch on financial activity both for tax collection purposes and law enforcement. Tracking the flow of cash through small businesses has proven to be a useful tool for federal agents investigating large scale criminal organizations. Money laundering, generally, is the practice of using a business to conceal cash or […]

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Failure to report more than $10,000 cash: felony under federal law

January 16, 2011
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A person who is self-employed would probably always prefer cash payment from customers over credit cards or personal checks. But the self-employed should be wary of federal laws concerning reporting cash payments. Intentional violation of cash reporting laws can result in felony charges. The federal government watches small business closely in a number of ways. […]

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