Say hypothetically a really rich billionaire wants to donate/invest a lot of money to/in you what would be the best non crypto option to get that money since PayPal most bank accounts for that matter would stop and question you on it and probably wouldn’t believe it’s a donation?
Suspicious Activity Reports (SARs) in the USA are made to track both potential tax evasion and money laundering. This is where the $10k cash “limit” comes from, but SARs can/should be filed for higher amount that create suspicion.
Someone depositing a check for multiple times their lifetime transactions total would absolutely create suspicion on themselves, especially if it was a personal check. But if it were a business check from “ABC Mortgage Escrow”, that’s probably legit but a bank clerk is well within their rights to flag it. Flagging just means the money laundering team would investigate the source, determine that it doesn’t have other red flags, and quietly move on.
Exactly. Staying with OP’s hypothetical situation, potential investigation on its own does not mean it can’t happen. It just means there may be an extra step behind the scenes, very possibly without either party’s knowledge anything even happened. More importantly, if the benefactor insists on some dodgy payment method that’s an even clearer sign of BS because a normal bank doesn’t give as much of a shit as OP lets on