Structuring is the practice of breaking down large amounts of cash into smaller transactions to avoid triggering currency transaction reports (CTRs) or suspicious activity reports (SARs) by financial institutions.
CTRs are required for cash deposits or withdrawals of more than $10,000 in the United States, and SARs are filed when there is a reasonable suspicion of money laundering or other illicit activity. By making multiple deposits of less than $10,000 at different tellers, the owner of the retail store is attempting to evade the reporting requirements and conceal the source or destination of the funds. This is a common technique used by money launderers in the placement stage of the money laundering process, when they try to introduce illegal proceeds into the financial system. Structuring is illegal under the Bank Secrecy Act and can result in civil and criminal penalties.
References:
* 6: CAMS Certification Package - 6th Edition | ACAMS, Chapter 2: Money Laundering Risks and Methods, page 43
* 1: Structuring Cash Deposits, Withdrawals, & Transactions Risk, Golding & Golding
* 2: Structuring - Wikipedia

A personal banking customer who simultaneously opens several accounts with almost identical names will most likely cause further inquiry, as this could indicate an attempt to evade transaction monitoring, reporting, or identification requirements. For example, a customer could open accounts with slight variations of their name, such as John Smith, Jon Smith, J. Smith, or John Smyth, to avoid detection or aggregation of their transactions. This could also be a sign of identity theft, fraud, or money muling. Therefore, the bank should verify the customer's identity and the purpose of the accounts, and monitor the activity for any suspicious patterns or behaviors.
References:
ACAMS CAMS Certification Study Guide, 6th Edition, Chapter 4, Section 4.2.2, p. 1051 ACAMS CAMS Certification Exam Outline, 6th Edition, Domain 2, Task 2.1, p. 52 FATF Guidance on the Risk-Based Approach for the Banking Sector, October 2014, p. 353