Advertisement
YOU ARE HERE: LAT HomeCollectionsBanks

BRIEFLY

Banks quadrupled their reports of cash transfers.

February 27, 1986

The number of large currency transactions being reported to the government has increased fourfold in the wake of the widely publicized conviction of Bank of Boston in a money laundering scheme, the Internal Revenue Service said. Banks are required to file a report on any deposit, withdrawal or transfer of more than $10,000. In January, 1985, the IRS received 68,218 reports. Since the Boston case broke in February, 1985, the number of reports has grown to more than 270,000 a month, the agency said.

Advertisement
Los Angeles Times Articles
|
|
|