Let's say that instead of wiring her profits overseas, Prudence uses the profits to pay off her debts to the Unlucky Lady casino in Las Vegas.She is aware of the fact that paying her $100,000 debt at one time will trigger an automatic report to the IRS.So, she decides to instead make a series of $9,000 payments instead.This could be construed as:

Question

Quizplus · Accepted Answer

Structuring, also known as smurfing, is the act of making transactions in a way that avoids triggering financial reporting requirements. By making multiple payments of just under $10,000 to avoid the automatic reporting threshold, Prudence is engaging in structuring. This is illegal and could lead to significant penalties and fines if caught.

Let's Say That Instead of Wiring Her Profits Overseas, Prudence