Stolen motorcycle on test drive tonight. June-14- 10 pm | Page 10 | GTAMotorcycle.com

Stolen motorcycle on test drive tonight. June-14- 10 pm

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Dresden said:
Sorry, but no.
Tellers and all customer facing positions are mandated to ask and file reports/make notes on withdraws and transx over 10k. This is fact - I worked in the 'system' for many years.
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You may be correct i know there is a whole bunch of information they have to submit I have worked with a number of the systems for reporting myself but not with the policy side. You are not under any obligation to provide you reason for the money though, then there is the whole SAR thing on top of that.
 
Two50noob said:
You may be correct i know there is a whole bunch of information they have to submit I have worked with a number of the systems for reporting myself but not with the policy side. You are not under any obligation to provide you reason for the money though, then there is the whole SAR thing on top of that.
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When I bought my used car I remember I had to take $9,999 out to avoid having to fill out some form and reporting what I was doing with the money... I believe the same goes with deposits.

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That's why I'm digging a hole & putting my $$ there. Bank don't give much interest anyway
 
Suzuko said:
When I bought my used car I remember I had to take $9,999 out to avoid having to fill out some form and reporting what I was doing with the money... I believe the same goes with deposits.

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Believe it or not, the most common form of money laundering is multiple persons making small deposits into the same account/credit card and then withdrawing/debiting a slightly different amount thereby "washing" the money trail.


Amateurs :D
 
Dresden said:
Believe it or not, the most common form of money laundering is multiple persons making small deposits into the same account/credit card and then withdrawing/debiting a slightly different amount thereby "washing" the money trail.


Amateurs :D
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Ad of course to do it Canadian style use large bills to buy tim Hortons. Very common with fake bills
 
Two50noob said:
FINTRAC reporting is all automated its all based on Patern analysis. I think the tellers are just making conversation/being nosey.
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Yes I understand that they should take note of withdrawls over 10k, I meant more in the 3-6 grand ball park..it's just the tellers being nosey like two50noob said. Bugs me.
 
I take out and deposit money from my TD account all the time for more than $10,000 and never have had to answer any questions or do any paperwork at all. I am not a business owner and I am just a regular "Joe-blow". I wonder if it is bank specific??
 
RockerGuy said:
That's why I'm digging a hole & putting my $$ there. Bank don't give much interest anyway
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You can put it the hole with my bikes this winter
 
newbike said:
I take out and deposit money from my TD account all the time for more than $10,000 and never have had to answer any questions or do any paperwork at all. I am not a business owner and I am just a regular "Joe-blow". I wonder if it is bank specific??
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Here are the requirements: http://www.fintrac-canafe.gc.ca/reporting-declaration/1-eng.asp

$10,000. or more is mandatory reporting - the bank/teller won't tell you - it's automatically reported in the back-end systems.

Suspicious transactions of any amount must be reported - a principle is 'know your customer'. The teller may ask probing questions to help that. Or they may just trying to be friendly (they don't get paid much and get beat on by some customers). If there is any suspicion, they will flag the transaction to be reported - Fintrac rules are that the client _must_not_ be notified of such. No big deal (unless you are actually laundering money or raising funds for inappropriate groups!)

I always tell the teller that I'm buying a used bike (or whatever). Since I have a beard, I'm sure they report all of my large cash withdrawals anyway. I worry more about the info that airmiles and other loyalty cards/points do with my purchase history than what Fintrac knows about me.
 
MikeMrsguided said:
Yes I understand that they should take note of withdrawls over 10k, I meant more in the 3-6 grand ball park..it's just the tellers being nosey like two50noob said. Bugs me.
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It's not being nosy, it's KYC. Sometimes it helps protect the customer from themselves. A few people have been asked why they are taking a large sum out and sometimes the answer is because they need to help a Nigerian prince transfer money out but they need to pay the tax before they get the commission or some other scam.
 
Bringing a friend doesn't always work. I've seen a video in Toronto, two guys meet an other two guys to buy a iphone. Guard let down for less than a second and while the "buyer/theif" was holding the phone to check it out, and he and his friend bolted. Unless you are a seasoned sprinter, you aren't catching them.

Not sure how I feel about letting someone test drive with just a copy of their I.D. most likely theifs will have multiple fake I.D.s. If you ride it in for the meet at a Tim Hortons. They can see that it runs, is that not good enough?
 
in regards to the money thing... i know im a bit late, but i had a buddy who sold his shares in a business and the profit he made was above $10,000. after he brought a cheque into the bank and dropped it off he later found out he had a meeting with the RCMP and had his account frozen for a month and also couldnt leave the city. Guess the guy who regularly deposits over $10,000 doesn't get much hassle because of the fact he does it often? maybe...
 
Was it still insured? Just claim it was stolen and get a nice fat cheque from the insurance company. Otherwise you're bike is def going to be sold for parts.
 
gixer johnny b said:
I hope that was the F***** that died serves him RIGHT years ago my friends bike a FJ 1200 got stolen this guy only knew how to use the back brake in a high speed police chase he lost his life on Dixon Rd .head on collision with a cop car! The Ins. co. wouldn't pay out . The next best thing for ppl like that is a proper pubic hanging! like they did with horse thieves ! Sorry to say but that bike has been stripped for parts by now or has been turned into a track bike. I really hope Im wrong and you get it back
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hmmm..was this late 80's
 
I'd only let someone I knew very well test ride my bike and even then I'd be taking photos (with my iPhone) of his drivers license for ID and his address as well as to prove he is a licensed to drive motorcycle for insurance and liability reasons.
He would need to bring his own helmet as he wouldn't be wearing mine.
Theft is not the only concern.
If he smashes the bike up and hurts someone I could be on the hook (with the cops and civily) for letting an unlicensed driver drive my bike.
For someone I don't know all of the above in addition to the cash in hand (no cheque - $$cash$$) for the purchase price.
Either that or no test drive.
 
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