Posted By: sra724
Structuring? $9500.00 a week by non-customer - 10/22/15 05:55 PM
Good afternoon,
I have a commercial customer that pays one man every week by check. The check is NORMALLY $9500.00. There have been times that it was 6 or 8K. The man cashes it every week.
The commercial customer also has a check that posts to his account at about the same time that states PAYROLL which is not cashed at our bank, but presented for payment from another institution.
The tellers state that the man cashing the check is a construction worker and he will break down the cash and give it to his helpers. The man appears to run multiple jobs for this commercial customer.
Is this structuring that benefits the customer cashing the check? Does it matter that he is handing out cash? The money appears to be legit. The commercial customer is in construction. He has larger balances, and the weekly payroll is about 35K. The worker appears to be legit. I just question why that amount and why not just pay him from the other PAYROLL check, and should I care that he may be handing out cash to his workers? I could assume they are just untaxed workers subject to construction sub end of the year statements.
Thanks in advance for your help.
I have a commercial customer that pays one man every week by check. The check is NORMALLY $9500.00. There have been times that it was 6 or 8K. The man cashes it every week.
The commercial customer also has a check that posts to his account at about the same time that states PAYROLL which is not cashed at our bank, but presented for payment from another institution.
The tellers state that the man cashing the check is a construction worker and he will break down the cash and give it to his helpers. The man appears to run multiple jobs for this commercial customer.
Is this structuring that benefits the customer cashing the check? Does it matter that he is handing out cash? The money appears to be legit. The commercial customer is in construction. He has larger balances, and the weekly payroll is about 35K. The worker appears to be legit. I just question why that amount and why not just pay him from the other PAYROLL check, and should I care that he may be handing out cash to his workers? I could assume they are just untaxed workers subject to construction sub end of the year statements.
Thanks in advance for your help.