> To combat money laundering and financing terror, there are new restrictions imposed on cash transactions over $10,000 and cash deposits by one person into someone else’s account.
Interesting how that $10,000 threshold never gets adjusted for inflation. $10,000 has been the trigger/limit for a number of financial things since the 90s.
I did a little research. The $10,000 threshold was set in 1970 in the US as part of the Bank Secrecy Act and, as far as I can tell, wasn't updated since then to reflect inflation.
According to an inflation calculator, $10,000 at the time that threshold was set is worth $82,679.12 today.