Cook Illinois Jury Instruction, also known as Cook Illinois Pattern Jury Instruction, provides guidance for judges and juries in the state of Illinois when handling cases involving the offense of evading currency transaction reporting requirements while violating another law through structuring transactions. This instruction is intended to ensure a fair and consistent understanding of the legal elements and the burden of proof required to determine guilt or innocence in such cases. The offense of evading currency transaction reporting requirements while violating another law by structuring transactions refers to an individual deliberately splitting cash transactions into smaller amounts to avoid reporting them to the appropriate authorities. This act is a federal offense under the Bank Secrecy Act and is often associated with other illegal activities, such as money laundering or tax evasion. Keywords relevant to Cook Illinois Jury Instruction — Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction may include: 1. Cook Illinois Pattern Jury Instruction 2. Illinois jury instruction for structuring transactions 3. Evading currency transaction reporting requirements 4. Violation of another law while structuring transactions 5. Splitting cash transactions to avoid reporting 6. Bank Secrecy Act 7. Federal offense 8. Money laundering 9. Tax evasion 10. Burden of proof 11. Guilt or innocence determination Different types or variations of Cook Illinois Jury Instruction — Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction may include instructions specific to different types of underlying offenses that are being violated alongside the act of structuring transactions. For instance: a) Cook Illinois Jury Instruction — Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction — Money Laundering Offense: This instruction could address cases where the underlying offense involves the illegal acquisition, concealment, or use of proceeds from criminal activities. b) Cook Illinois Jury Instruction — Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction — Tax Evasion Offense: This instruction could pertain to cases where the underlying offense involves intentional efforts to evade taxes by unlawfully concealing income or assets. These variations of the instruction may further clarify the specific legal elements, evidentiary requirements, and sentencing considerations related to the respective underlying offenses.
Cook Illinois Jury Instruction - Evading Currency Transaction Reporting Requirement While Violating Another Law By Structuring Transaction
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In 1986, Congress criminalized currency structuring in the Money Laundering Control Act. Structuring is defined as conducting one or more transactions in currency, in any amount, at one or more financial institutions, on one or more days, in any manner, for the purpose of evading reporting requirements.
Structuring is a felony offense and the punishments can be severe. Penalties include monetary fines, imprisonment of up to 10 years, or both.
Federal law requires financial institutions to report currency (cash or coin) transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day. These transactions are reported on Currency Transaction Reports (CTRs).
Filing Obligations A bank must electronically file a Currency Transaction Report (CTR) for each transaction in currency1 (deposit, withdrawal, exchange of currency, or other payment or transfer) of more than $10,000 by, through, or to the bank.
The reporting requirement for a CTR is triggered when a bank customer initiates a transaction of more than $10,000, not when they complete it. If a bank customer refuses the transaction or modifies it to fall below the threshold, the bank employee is required to file a suspicious activity report.
Structuring is the breaking up of transactions for the purpose of evading the Bank Secrecy Act reporting and recordkeeping requirements and, if appropriate thresholds are met, should be reported as a suspicious transaction under 31 C.F.R. § 103.18.
Structuring is a strategy used by businesses that are attempting to evade taxes by hiding large amounts of cash. With structuring, companies deposit smaller amounts of cash to avoid automatic reporting by the bank to the government.
CTRs must be filed whenever a customer makes a currency transaction exceeding $10,000, or for multiple transactions if the sum exceeds $10,000 in one day.
An example of structuring would be a business with cash of $17,000 to deposit, breaking it into two deposits, one of $9,000 and the other of $8,000, with specific intent to evade the bank's currency transaction reporting requirement.
A currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10,000.