Quote:
Originally Posted by parisron
Using casino chips for a 10k+ event wouldn't trigger a CTR, it's only cash that does, so I doubt using lammers would.
What is suspicious about using 10k+ in lammers to buy into a poker tournament that would trigger a SAR?
My point is that it should never trigger a CTR because it's not a cash transaction when you buy in with lammers a CTR is for cash transactions it could however trigger an SAR if the lammers were bought with cash on the secondary market which happens all the time and then used by someone other than the person that won them in order to avoid a CTR being filed... this practice is money laundering 101 which is what an SAR is designed for.
Fwiw: An SAR can be filed no matter what the transaction amount is if their is suspicion of money laundering or any other nefarious activity associated with the transaction.
Example: a drug dealer uses $50k in cash to buy enough lammers from satellite winners (aka Trooper) to enter a $50k high roller event thus avoiding a CTR for a cash transactions over $10k... he's just used $50k in dirty money and turned it clean.
So to answer your question: There's nothing suspicious about buying into a tournament with lammers it's how you got the lammers that's the issue
This is most likely the reason for the SNG's and the lammers to go the way of the dinosaurs.
Last edited by Mr ATM; 02-04-2023 at 06:13 PM.