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Form 8300 Reporting Requirements

Keep your company safe and learn when you should be filing Form 8300.

Many business people do not understand that they may have to report cash payments they receive from their customers to the government, even when those payments are spread out over a year. They also do not understand the importance of those cash reporting requirements to the government's anti-money enforcement efforts. This topic will explain when companies must report cash transactions and how to complete the paperwork, which is known as a Form 8300. It will also explain how Form 8300s fit into the larger anti-money laundering system and the increased importance the government is placing on combating money laundering. The knowledge gained can help avoid costly mistakes -- failing to correctly and accurately file Form 8300s is not a minor infraction, it is a serious criminal offense that can destroy a business and result in lengthy prison sentences.

Runtime: 87 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Form 8300 - the Who, What, Where, When and Why

Form 8300 Requirements

  • Types of Payments to Report
  • Identity of Person Delivering Cash, Including TIN
  • Identify of the Owner of the Cash, Including TIN
  • Related Transactions
  • Suspicious Transaction
  • Recordkeeping

Penalties

  • Civil
  • Criminal

The Role Form 8300 Plays in Anti-Money Laundering Enforcement

  • FinCEN
  • Identification of Suspicious Transactions
  • Track Cash Payments
  • Evidence in Criminal Prosecutions

Geographic Targeting Orders (GTOs) That Lower Reporting Thresholds

  • FinCEN's Authority to Issue GTOs
  • Reasons for Issuing GTOs
  • Recent Examples of GTOs

Example of Prosecution Using Form 8300 Evidence

  • United States v. Vikram Datta
  • Businessman Operating on United States/Mexico Border
  • Black Market Peso Exchange

Conclusion

  • Increasing Emphasis on AML Enforcement
  • What May Seem Like Minor Infractions Can Carry Serious Penalties
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on June 22, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Peter M. Skinner

Peter M. Skinner

Boies, Schiller & Flexner LLP

  • Partner in the New York office of Boies, Schiller & Flexner LLP since January 2015; previously served for ten years as an Assistant United States Attorney in the Southern District of New York
  • An experienced trial and appellate attorney whose areas of practice include corporate internal investigations, white collar criminal defense and regulatory compliance
  • Conducts regular seminars and workshops on anti-money laundering enforcement, compliance practices, and trends in white collar enforcement; wrote several publications in the same areas
  • Graduate of Boston College Law School and the University of Notre Dame
  • Can be contacted at 212-303-3654 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 397774
Published 2016
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