In the financial services area (brokerage accounts, etc), there are real consequences for employees in the industry who don't comply with anti-money laundering laws.
If "Abdul al-Qaeda" makes hundreds of all-cash deposits under the $10K reporting limit into his brokerage account, that still represents a potential red flag. Employees who are servicing that account could face serious penalties (from the government) for their failure to look into potential money-laundering for nefarious purposes. The laws are written vaguely, so such employees can never be 100% certain that they are in compliance.
If "Abdul al-Qaeda" makes hundreds of all-cash deposits under the $10K reporting limit into his brokerage account, that still represents a potential red flag. Employees who are servicing that account could face serious penalties (from the government) for their failure to look into potential money-laundering for nefarious purposes. The laws are written vaguely, so such employees can never be 100% certain that they are in compliance.