How can anybody agree this is right?

[Highcotton]

http://www.foxnews.com/politics/2018...rfeitures.html

[Drylok]

No lie. Could happen to anybody.

I don't like this at all.

[Rubberhead*]

The whole point in the establishment of the United States of American and its government was to protect the life, health, property and liberty of the American citizenry - not to take it...

[Silentweapon338]

Looks like Alabama doesn't agree with it.

Hopefully SC will get on the band wagon, but I'm not holding my breath.

As the article suggests it was a practice used to stop drug king pins in the 80's.

As a byproduct drugs are no longer moved in that manner. So as a response the practice should be done away with.

[Highcotton]

Like walking out of the bank with $5,000 in cash of your money. It opens all kind of shit that the government can do to you without a warrant. "Patriot" Act

[Fish]

Here in SC, this is nothing more than rednecks with badges stealing shit that doesn't belong to them to pay for cheap dodge police cars and tacticool gear for their paramilitary approach to dealing with American citizens.

Its absolutely brilliant...until it happens to you.

[WoodieSC]

Like walking out of the bank with $5,000 in cash of your money. It opens all kind of shit that the government can do to you without a warrant. "Patriot" Act

I've read numerous stories about bank tellers calling the police when a customer withdraws a large amount of cash from their account, only to be stopped up the road and the money confiscated. I have no idea if all of these stories are true, but I have no doubt that sooner or later this is going to happen to someone who decides to fight it and an officer may end up dead... needlessly. I'm surprised it hasn't happened already.

Hopefully somewhere, some day, there will be a few intelligent politicians who will force this to change, as AL and three other States are doing right now.

Police are empowered to take cash and other assets based on probable cause that it is in some way connected to criminal activity -- even if the person is not charged with a crime.

As Rand Paul has noted, THIS is the key issue.

Back around 2000 when Anderson Cty had that "really crazy, narcissistic" Sheriff, and I had just purchased a new Land Cruiser, a former SLED agent personally cautioned me to be careful as he had little doubt that given the chance our Sheriff would try to confiscate my new vehicle. Fortunately that never happened.

[Fish]

I've read numerous stories about bank tellers calling the police when a customer withdraws a large amount of cash from there account, only to be stopped up the road and the money confiscated. I have no idea if all of these stories are true, but I have no doubt that sooner or later this is going to happen to someone who decides to fight it and an officer may end up dead... needlessly. .

I would argue that this sentence could be finished justly without the word needlessly. If this is the approach, that officer is no better than a common criminal.

[WoodieSC]

I would argue that this sentence could be finished justly without the word needlessly. If this is the approach, that officer is no better than a common criminal.

I actually agree with you, but I added the word "needlessly" because if the fuckin' politicians would rectify this problem and not allow seizures unless and until a person if convicted the LEO's wouldn't be in the position to even cause the problem.

[fuzzy]

Banks are required by law to report cash transactions over a certain amount. They are also told to watch for suspicious activity such as repeated transactions that are just below the required reporting amount. If my memory serves me correctly, the amount was $10,000.

[SC REBEL]

All of this needs to end including the so-called Patriot act. GW Bush was as bad as Clinton,

[WoodieSC]

Banks are required by law to report cash transactions over a certain amount. They are also told to watch for suspicious activity such as repeated transactions that are just below the required reporting amount. If my memory serves me correctly, the amount was $10,000.

Yes, fuzzy, the 'official' limit is $10K, be it cash, an EFT or wire transfer, etc. However, if memory serves me correctly, many banks actually report amounts as low as $5K.

I understand the reason for the reporting, in the 'old days', but I question how much actual cash is still involved in the drug trade in this electronic world. This is just another means to keep us under control.

[mudnut1970]

I call bull I’ve taken 10K out my bank more than once and never had a problem

[fuzzy]

Yes, fuzzy, the 'official' limit is $10K, be it cash, an EFT or wire transfer, etc. However, if memory serves me correctly, many banks actually report amounts as low as $5K.

I understand the reason for the reporting, in the 'old days', but I question how much actual cash is still involved in the drug trade in this electronic world. This is just another means to keep us under control.

I don't disagree. Reporting $5k is BS, unless it is suspicious. A gas station depositing $10k several times a week is not suspicious to me, depending on where they are located. A grocery store making several large deposits in excess of $10k around the first of the month isn't suspicious to me either, but Joe blow making deposits of $4k at 3 different branches of a bank in the same day is suspicious.

There again, I think all of it is BS. But, I also understand the purpose of it. And, it has absolutely been abused.

[fuzzy]

I call bull I’ve taken 10K out my bank more than once and never had a problem

I can assure you that it was reported. If not, the bank will have lots of questions to answer the next time they are audited.

[mudnut1970]

I can assure you that it was reported. If not, the bank will have lots of questions to answer the next time they are audited.

I’m not saying it wasn’t reported but the law didn’t stop me.

[fuzzy]

I’m not saying it wasn’t reported but the law didn’t stop me.

Rarely does the law get involved, because the transactions are legitimate. If I was a betting man, I would say that the $5k incidences were because of someone on a power trip with a girlfriend working in the bank.

[Southernduck]

$10,001 gets a note sent to the Feds. $10,000 you go about your merry way and nobody worries about your bidness

[Silentweapon338]

I call bull I’ve taken 10K out my bank more than once and never had a problem

You were flagged. Doesn't mean anything will happen.

The law was originally to get people depositing money not taking out.

The movies where the drug dealer walks in with punching bag full of cash.

As pointed out for the big big transactions I would think bitcoin is the preferred method of payment.

[Highcotton]

Mudnut, you were flagged and can have things "tapped". because of the Patriot Act. You don't have to be notified.
I don't give a damn how much cash a person puts in or out of the bank that is there business. Eventually, if they are caught doing something illegal there will be consequences.

All of this is similar to the the 10% "penalty" for taking money out of your 401K. Sure time value of money thing, but it is YOUR money. I get paying the taxes, but why the penalty? The People stand idly by and let it happen.