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structured activity case

Discussion in 'Financial Terms' started by misscanteloupe, Dec 11, 2012.

  1. misscanteloupe

    misscanteloupe Senior Member

    Caracas, Venezuela
    Spanish-Venezuela
    Buenas tardes amigos foreros,

    En el caso de un documento de directrices bancarias, me encuentro con el siguiente punto:
    Structured Activity Case:
    Detects
    structuring of transactions on an account in order to avoid reporting for transactions being structured and the total amount exceeds a specified maximum dollar amount over a certain time period.

    Mi intento:
    Caso de Actividad Estructurada:

    Detecta la estructuración de transacciones en una cuenta con el fin de evitar la presentación de transacciones estructuradas cuyo monto exceda una cantidad de dólares máxima específica durante cierto período de tiempo.


    Tengo problemas con toda la idea realmente no entiendo y siento que por ende mi traducción es totalmente literal!!! Alguien que me ilumine please! Muchas gracias de antemano!
     
  2. RicardoElAbogado Senior Member

    SF Bay Area, California
    American English
    I believe that the text is referring to the US law known as the Bank Secrecy Act (a misnomer if there ever was one), which is designed to detect money laundering. Under the Bank Secrecy Act, a bank is required by law to file a currency transaction report (CTR) with the US Treasury to report any cash transaction in the amount of $10,000 or more. (Where is the secrecy???)

    This obligation to report includes reporting cash deposits and cash withdrawals as well as certain other transactions. Those involved in illicit businesses that generate a lot of cash know this, and of course, if you are a drug dealer or narcotraficante, the last thing you want is to have banks reporting to the US government that you have been making large cash deposits. So to avoid that, the drug dealers would break up their deposits into smaller sums so that each sum was less than $10,000. As a result, there would be no CTR filed with the Treasury.

    Congress then added a new section to the law, which made it illegal to make several deposits of less than $10,000 each (but collectively more than $10,000) with intent to avoid having a CTR filed with the Treasury. This practice of taking a sum of money larger than $10,000 and making several deposits so as not to trigger a CTR is called "structuring." The idea behind this term is that deposits are structured in such a way as to avoid a CTR.

    One definition of structure (as a verb) is 'to construct or arrange according to a plan." So while the term "structuring" is consistent with the dictionary definition, I don't find it suitably descriptive, mainly because I don't think that the action of breaking one deposit into smaller deposits is evoked by the term. Whether you should use a similar word in Spanish is up to you. I wouldn't feel wedded to the term "structured activity" if there were a word or phrase in Spanish that better explains the concept of structuring in this context.

    By the way, because the sums of cash are so large, often deposits have to spread over several banks, which means running from one bank to the next to make all the deposits. The people that do this for the drug dealers are sometimes called "smurfs" (after the cartoon character--I don't know why).
     
  3. misscanteloupe

    misscanteloupe Senior Member

    Caracas, Venezuela
    Spanish-Venezuela
    RicardoEl Abogado, thanks for your extensive explanation it's very clear!,
     
  4. k-in-sc

    k-in-sc Senior Member

    Ley de Confidencialidad Bancaria (BSA por sus siglas en inglés) – La Ley de Informes de Dinero en Efectivo y Transacciones Extranjeras, Ley Pública No. 91-508, Título II, al igual que los requisitos de las instituciones financieras de mantener archivos, se dieron a conocer como la Ley de Confidencialidad Bancaria (BSA). La ley BSA dicta que se reporten ciertas transacciones realizadas con una institución financiera (Formulario 4789), y estipula el deber de divulgar las cuentas en el extranjero (TD F90-22.1), y el reportar la transportación de dinero en efectivo en exceso de $10,000 a través de las fronteras de los Estados Unidos (Formulario 4790).

    http://www.irs.gov/Spanish/Estatutos-Federales---Lavado-de-Dinero

    I. En el manejo de efectivo, los criminales y lavadores de dinero
    persiguen evitar ser identificados y por lo tanto, realizan sus transacciones
    por cantidades menores a los mínimos que establece la ley para identificar a
    los conductores. Este patrón de dividir una transacción en múltiples para
    evitar cumplir con los requisitos de BSA se conoce como “estructuración".
    Algunos ejemplos de estructuración en la etapa de colocación son:


    1. Realizar múltiples transacciones en efectivo durante un día por
    cantidades menor o igual a $10,000 (mínimo para reportar
    transacciones en efectivo). ...

    Source (Puerto Rico)

    msb.gov - Money Laundering Prevention

    Las MSBs Pueden Ayudar a Combatir el Lavado de Dinero ......de Informes de Transacción en Efectivo, lavado de dinero o transacciones estructuradas.
     
  5. misscanteloupe

    misscanteloupe Senior Member

    Caracas, Venezuela
    Spanish-Venezuela
    Thank you very much k-in-sc!!!! Great explanation as well! :thumbsup:
     

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