In the US they only ask if it's a large amount. As u/RaceCreatesCulture pointed out, they have to report transactions over $10K and anything suspicious to the government. $6K AUD in the video is like $3K USD, my bank wouldn't bat an eye at that amount.
On the flipside, banks have gotten a lot better at intercepting old people that are being scammed. When granny goes in asking for a $30K cashiers check they're going to make sure it's not a scammer. If granny says it's to pay the IRS or any of the shit the scammers use, the bank will stop it right there. That's preferable to letting her just get ripped off for her life's savings IMO.
At the same time, it should not be the bank's job to ensure granny doesn't get scammed. I'd rather bankers and the government be out of people's privacy and then granny gets scammed rather than the other way around.
And although, bankers likely wouldn't bat an eye at a $3000 USD withdrawal, they are encouraged to still report anything suspicious so if you come into the bank with a dude and a camera shouting about ex girlfriend's boyfriends you need to give money to, they might inquire and write a report even if all you were withdrawing was $300.
Yes it is. Banks leverage granny's 30k to get loans and investments to make the bank money. It is literally their business to make sure granny isn't losing 30k to scammers because the bank loses lending and investing power.
By that logic though, almost anything could be argued. Why is your medical information private? Insurance companies would benefit from having full access to medical data of everyone so they can insure based on your medical history. Guess that information should be made public to everyone.
I agree that banks have a motive to keep your funds at their bank but the government shouldn't have regulations forcing banks to ask about your money. It shouldn't be the government's business to force banks in my opinion.
The government mandate wouldn't stop a bank asking Granny why she's withdrawing 30k when she hasn't withdrawn any significant sum of cash, ever. The government mandate just makes the bank tell them about it.
While I was interning at a Secret Service field office, I eavesdropped on one of the agents who was investigating the case of an old man who had been scammed out of six digits worth of money. After he had been scammed, while the investigation was ongoing, the dumb ass got scammed again by a different group of scammers, for tens of thousands of dollars. I remember the phone call the investigating agent had with the victim, he was almost yelling into the phone at the man.
If you are feeble minded enough that you fall for a scam after being scammed already, it is time for someone else to manage your money, because you are not mentally capable of doing it yourself.
Don't forget the IRS has been trying to alter policies so you are required to record all transfers over $600, including from your savings to your checking.
You know what granny can do? Live with her family who can tell when she's being scammed. If she sent them off to school and work while she hoarded wealth, let her get scammed.
In the US they only ask if it's a large amount. As u/RaceCreatesCulture pointed out, they have to report transactions over $10K and anything suspicious to the government. $6K AUD in the video is like $3K USD, my bank wouldn't bat an eye at that amount.
On the flipside, banks have gotten a lot better at intercepting old people that are being scammed. When granny goes in asking for a $30K cashiers check they're going to make sure it's not a scammer. If granny says it's to pay the IRS or any of the shit the scammers use, the bank will stop it right there. That's preferable to letting her just get ripped off for her life's savings IMO.
At the same time, it should not be the bank's job to ensure granny doesn't get scammed. I'd rather bankers and the government be out of people's privacy and then granny gets scammed rather than the other way around.
And although, bankers likely wouldn't bat an eye at a $3000 USD withdrawal, they are encouraged to still report anything suspicious so if you come into the bank with a dude and a camera shouting about ex girlfriend's boyfriends you need to give money to, they might inquire and write a report even if all you were withdrawing was $300.
Yes it is. Banks leverage granny's 30k to get loans and investments to make the bank money. It is literally their business to make sure granny isn't losing 30k to scammers because the bank loses lending and investing power.
By that logic though, almost anything could be argued. Why is your medical information private? Insurance companies would benefit from having full access to medical data of everyone so they can insure based on your medical history. Guess that information should be made public to everyone.
I agree that banks have a motive to keep your funds at their bank but the government shouldn't have regulations forcing banks to ask about your money. It shouldn't be the government's business to force banks in my opinion.
The government mandate wouldn't stop a bank asking Granny why she's withdrawing 30k when she hasn't withdrawn any significant sum of cash, ever. The government mandate just makes the bank tell them about it.
I love my grandparents. A scammer told me they had picked me up in Mexico and were holding me for ransom. Grandpa told 'em to fuck right off.
While I was interning at a Secret Service field office, I eavesdropped on one of the agents who was investigating the case of an old man who had been scammed out of six digits worth of money. After he had been scammed, while the investigation was ongoing, the dumb ass got scammed again by a different group of scammers, for tens of thousands of dollars. I remember the phone call the investigating agent had with the victim, he was almost yelling into the phone at the man.
If you are feeble minded enough that you fall for a scam after being scammed already, it is time for someone else to manage your money, because you are not mentally capable of doing it yourself.
For now.
Don't forget the IRS has been trying to alter policies so you are required to record all transfers over $600, including from your savings to your checking.
Fuck granny.
You know what granny can do? Live with her family who can tell when she's being scammed. If she sent them off to school and work while she hoarded wealth, let her get scammed.