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Offlinech1ck3n.s0up
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Tracking Cash?
    #17778295 - 02/10/13 04:00 PM (11 years, 3 months ago)

Do you think that it's possible to track cash used for herb purchases?

Here's a couple of easily imaginable scenarios:

I. Deposit Scenario:

1. Cheech takes $60 out of an ATM to buy some grass.
2. Known dealer deposits cash into bank account.
3. Serial numbers tracked back to Cheech.
4. If Cheech buys every month, then a pattern could be established.

In this scenario, the dealer would have to be pretty stupid to deposit dirty money into a bank account, but I'm sure that it happens.

II. Bust Scenario

Similar to the above, but in this case, a stack of $20's are found under a dealer's bed in a no-knock warrant search.

1. Chong takes $60 out of an ATM to buy some grass.
2. Dealer gets busted with cash
3. Serial numbers tracked back to Chong.


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"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.

Edited by ch1ck3n.s0up (02/10/13 04:01 PM)

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OfflineEllis Dee
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Re: Tracking Cash? [Re: ch1ck3n.s0up]
    #17778384 - 02/10/13 04:16 PM (11 years, 3 months ago)

I didn't know serial numbers were recorded in ATMs and banks. I've never noticed they did that. I suppose it would be possible if they do track serial numbers but I think it's rediculous to think they would. Cash is pretty untraceable as long as the serial numbers aren't consecutive, I think. I'm recalling a bank robbery case where they knew the serial numbers because they were a brand new cash delivery with consecutive serial numbers from the Federal Reserve bank. After they're circulated or have non consecutive serial numbers I'm fairly sure they're untracable to any particular bank branch. Someone please correct me if I'm wrong.


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"If the foundations be destroyed, what can the righteous do."-King Solomon

And there was war in heaven: Michael and his angels fought against the dragon; and the dragon fought and his angels,

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Anonymous #1

Re: Tracking Cash? [Re: Ellis Dee]
    #17778436 - 02/10/13 04:26 PM (11 years, 3 months ago)

When i was selling drugs, I never put the cash i earned back into my bank account. I had a safe where i kept the money.
That way, if you did get busted selling and you were lucky enough to have a little time before getting raided/arrested. You could put the cash somewhere where it wont get found. Otherwise, the police can freeze your bank accounts and seize money as drug money.

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OfflineAlan RockefellerM
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Re: Tracking Cash? [Re: ch1ck3n.s0up]
    #17778456 - 02/10/13 04:30 PM (11 years, 3 months ago)

Sounds theoretically possible, but I don't think ATM's record the serial numbers of the cash they give.  That would require an extra scanner/electronics.  Third party ATM's, such as those at 7-11 definitely don't record serial numbers of the cash they give.

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Offlinech1ck3n.s0up
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Re: Tracking Cash? [Re: Alan Rockefeller]
    #17778920 - 02/10/13 05:57 PM (11 years, 3 months ago)

For the blind, there is a machine-readable feature incorporated into currency. So, technically, the answer is yes.
http://www.moneyfactory.gov/anticounterfeiting/securityfeatures.html

I would be surprised if they _don't_ scan the serial numbers and dump them into a database, if for nothing else than anti-counterfeiting efforts.

Quote:

Anonymous said:
When i was selling drugs, I never put the cash i earned back into my bank account. I had a safe where i kept the money.
That way, if you did get busted selling and you were lucky enough to have a little time before getting raided/arrested. You could put the cash somewhere where it wont get found. Otherwise, the police can freeze your bank accounts and seize money as drug money.



I'd watch the game at your place :wink:

Anyway, since logging where cash exits the system is trivial--just log the ATM location and username--the real challenge is identifying how money enters back into the system.

So the first split would be whether you spend the money at a business, or give it to a non-business. A spend at a business is easy to track, since all businesses deposits funds regularly. If you take out $20 in cash at 8:00am, and it's deposited that night from a diner, it's reasonable to surmise that you spent that $20 at the diner.

If you give it to a non-business, what happens then? What are the top three non-businesses? Some ideas...

1. Personal acquaintances
2. Drug Dealers
3. Under your mattress for years

hmmm... what does it mean if you take out $20, and it disappears off the map? Did you stuff it under your mattress? Is it sitting in the safe of a drug dealer?

I'd love to see a flowchart or study on this. I'm sure that this has been studied ad nauseum by the mint and anti-counterfeiting agencies.



--------------------

"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.

Edited by ch1ck3n.s0up (02/10/13 06:36 PM)

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InvisibleEnlilMDiscord
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Re: Tracking Cash? [Re: ch1ck3n.s0up]
    #17779532 - 02/10/13 07:49 PM (11 years, 3 months ago)

There's no reason that banks would track serial numbers. It would be a lot of trouble for no real benefit to them.


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Offlinech1ck3n.s0up
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Re: Tracking Cash? [Re: Enlil]
    #17780368 - 02/10/13 09:59 PM (11 years, 3 months ago)

Quote:

Enlil said:
There's no reason that banks would track serial numbers. It would be a lot of trouble for no real benefit to them.



Government, law enforcement, homeland security, anti-terrorism, anti-counterfeiting, and the DEA would all be very interested in the source of cash income for certain persons!

Edited by ch1ck3n.s0up (02/10/13 10:01 PM)

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OfflineAlan RockefellerM
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Re: Tracking Cash? [Re: ch1ck3n.s0up]
    #17780804 - 02/10/13 11:11 PM (11 years, 3 months ago)

They would be, but you get your money from banks, not from those people.

Banks have no financial incentive to track money, and they are not required to do it.

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Offlinech1ck3n.s0up
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Re: Tracking Cash? [Re: Alan Rockefeller]
    #17781084 - 02/11/13 12:14 AM (11 years, 3 months ago)

Quote:

Alan Rockefeller said:
They would be, but you get your money from banks, not from those people.

Banks have no financial incentive to track money, and they are not required to do it.



I'm sure if law enforcement wanted to do some serial number tracking they could make it happen within the banks.

I remember us talking a year or two ago about the banks tracking large transactions? Over 3k, or was it 5k? They then file a report to someone. I'm sure that some serial number information could easily added to that report.

Quote:

ehow said:
Crime doesn't pay, but when it does, it's usually in cash. Since 1970, the federal government has used mandatory reporting of large cash transactions from financial institutions as part of its arsenal against crime. In fact, the Department of Treasury, the agency that includes the IRS, has an entire division dedicated to analyzing the reports and identifying criminal activity.



http://www.ehow.com/about_4672449_transactions-do-banks-report-irs_.html

Imagine the day when we can pay for weed with a credit card!!!

Edited by ch1ck3n.s0up (02/11/13 12:17 AM)

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InvisibleDaft Punk
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Re: Tracking Cash? [Re: ch1ck3n.s0up]
    #17781147 - 02/11/13 12:27 AM (11 years, 3 months ago)

LE cant force banks to do anything. the only time banks really comply with LE is when they have financial motivation to. the reason banks are SOMETIMES willing to follow money laundering laws is bc all of that money might get seized without notice, fucking over the bank.

as far as tracking money goes, banks report suspicious transactions of any amount. i think it might be 10 grand or mroe they are obligated to report, but they can report any transaction.

as a general rule, banks dont like regulation and government interference. banks would love to take cash from every drug dealer, pimp, and terrorist in the world but the government attempts to prevent this. i think that it would be possible to track money this way, but i dont think it would ever happen. banks always look for ways to increase revenue, and a system such as this would be a major expense that doesnt generate any revenue.

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InvisibleEnlilMDiscord
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Re: Tracking Cash? [Re: Alan Rockefeller]
    #17781541 - 02/11/13 04:14 AM (11 years, 3 months ago)

Quote:

Alan Rockefeller said:
They would be, but you get your money from banks, not from those people.

Banks have no financial incentive to track money, and they are not required to do it.



:whathesaid:
Unless there is a law requiring such tracking, banks won't spend the money doing it.  They'd rather have that money as profit.  Similarly, ATM manufacturers won't spend the money building such functionality into machines.

Banks hate dealing with reporting for the anti-moneylaundering law, and they wouldn't do it if they weren't legally required to do it.  Why would they voluntarily take on such a massively larger responsibility as tracking individual bills without a legal requirement to do so?


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InvisibleEnlilMDiscord
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Re: Tracking Cash? [Re: ch1ck3n.s0up]
    #17784793 - 02/11/13 05:52 PM (11 years, 3 months ago)

Stupid phones are stupid.


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