too much money?

Question

is there a law in the US that says that if you get caught out on the street driven with so much money you can get in trouble for having too much money on you? if so what would happen and what is the limit?

Answer 1

Technically, I don't think so, but I'd watch it. Many small town law enforcement agencies use high pressure tactics to fund their payrolls. Some will test the money for drugs, and when it comes back positive (which is always the case, since over 30% of US currency is drug tainted), they'll attempt to confiscate it. In such a case, you'd have to contest the seizure in court.

As to the amount, it really depends on how you look. Almost anyone can be expected to be walking around with a few hundred dollars on them. When you start getting over $500, $1,000....you better be riding in a nice car with some nice clothes on.

Answer 2

Yes -- I should say not specifically but the operation of the laws come into play if you carry large amounts of cash. You would be under suspicion of dealing drugs or robbing a bank or committing some other crime. $10,000 gets the IRS involved. Also, terrorists use cash. The USA is trying to become a cashless society so that the government has access to the way we spend every dime of our money and can exert control over us. (Strange -- the government seems to have the ability to patrol U.S. Citizens but can't seem to enforce our immigration and employment laws and protect our food supplies and our borders) Some of us are resisting but try not to carry more than $400 at any time. If you want to have Homeland security on your case, just try to buy an airplane ticket with cash. If you pay a large bill with cash these days, you had better have a good reason or the person collecting the money had better be able to vouch for the fact that you do this all the time. Otherwise, the police will be investigating you. Of course, if you are an illegal immigrant, you can get away with everything! If you are a U.S. Citizen prepare to have your finances audited!

Answer 3

No - but if you have too much money for what the police think you should have, they WILL seize it and hold it while they investigate. There is a law that says that money and other goods used in a drug crimes (any crimes?) can be seized an kept by the authority that found it. Some of the small Podunk forces like this idea. There's no fixed amount - whatever the cops think is too much for you to be carrying...

One tactic is to force you to prove where you got the money; If you can't show some recent bank withdrawals, and if you can't prove it legitimately belongs to you and where it came from, they may have a friendly judge who will decide it's proceeds of crime and award it to the police. the short answer, without a good lawyer, is "prove it's not!"

I bet a lot of police firms use this sort of money to buy their toys - fancier guns, radios, cars, and TVs for the break room - so they tend to take whatever they can and let the poor saps fight it out in court. There was an area of northern Florida that was famous for pulling people over for DWB ("Driving While Black") and then searching the vehicle and confiscating anything over a few hundred dollars using this trick. Most of the victims don't have bank statements and could not afford a lawyer - especially after their money was stolen.

This law does discriminate against people who deal in cash, or do things like "under-the-table" house renovations, etc. But these are also crimes against the tax laws, so if their drug laws also catch a few tax cheats, so what? It's not like it's a free country any more.

The other law is the IRS law - cash transactions over $10,000 must be reported. They used to have a similar law that deposits of over $10,000 cash had to be reported by banks. They found that drug dealers hired people to deposit $9900 at a time, so now they have a magic number for banks that changes every day.

Again, if they investigate and you can't prove the money was legitimately earned, they will confiscate it. If you claim someone gave you the $10,000 you will both be investigated for violating the reporting rule.

The IRS is trying to track all those millions in drug money. It's one thing to sell the drugs. It's tougher to spend it on a normal lifestyle without leaving a paper trail - which the DEAand IRS use to charge you with tax evasion, and then seize the money anyway. And, the USA has twisted arms with most foreign banks, so even Swiss banks will cooperate if evidence of crimes, especially drugs, is presented to them.

Answer 4

Legally, there is no law that limits the amount of money you may have in your possession. The current law does provide police with the power to detain you if they believe you "have committed a crime, are in the process of committing a crime, or about to commit a crime". That's their catch 22.

Answer 5

There is no law, but the officer would probably be suspicious and ask you to justify why you have that much cash on you.

Answer 6

I don't think there is a limit to the amount of cash you can carry, but it will probably raise lots of suspicion.

Answer 7

yes, the police will just be happy to take it from you

But no there is no real law, but if there is excessive amount you may be asked to explain it.

Answer 8

yeah~ large amounts of money make the cops suspicious and sometimes they do have the authority to take it and cite you for it

Answer 9

you are watching too much tv. no such law