There is nothing inherently wrong with hanging onto large amounts of cash. Some people have reservations about the banking system and would prefer to have their money where they can quickly access it. However, stacks of cash can be incorrectly linked to crime, and there are laws requiring that transactions above a certain amount be reported.
Since criminals often keep cash to make transactions that cannot be easily tracked, if you were found to be in possession of a large amount of cash during a routine interaction with law enforcement officials, e.g., during a traffic stop, you could be suspected of some type of illegal activity.
How much cash can I carry across the border?
When carrying cash across the border, there is a $10,000 limit. If you want to import or export a higher amount of cash, you must report it. If you do not report it, you will be subject to high fines and possibly even jail time.
Can law enforcement officials seize my cash?
Law enforcement officials are unfortunately incentivized to seize assets and make arrests when large sums of cash are found. However, whether action is taken to seize assets often depends on the particular situation rather than the amount of cash found. If a relatively small amount of cash is found in an area known for drug dealing, the money could be seized.
If you have been subject to cash seizure in Alabama, you may have to file a formal request to gain back your assets. It’s therefore important that you fully understand the law and take action as soon as possible.