Two banks didn’t report currency transactions.
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The banks said they had failed to report large deposits and withdrawals of cash even though federal rules require such reports. Manufacturers Hanover Trust said it failed to report 1,400 cash transactions with a total value of $140 million dating back as far as 1980. Chemical Bank reported that 857 of its cash transactions, worth $25.9 million, went undisclosed during the same period.
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