Banks quadrupled their reports of cash transfers.
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The number of large currency transactions being reported to the government has increased fourfold in the wake of the widely publicized conviction of Bank of Boston in a money laundering scheme, the Internal Revenue Service said. Banks are required to file a report on any deposit, withdrawal or transfer of more than $10,000. In January, 1985, the IRS received 68,218 reports. Since the Boston case broke in February, 1985, the number of reports has grown to more than 270,000 a month, the agency said.
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