It’s called “salami slicing” and it is such a common idea that there’s a wikipedia page about it:
It has also featured as the plot in several movies, such as Office Space and Superman III (with the latter actually being mentioned in Office Space). Banks are on the lookout for such a thing, so I would imagine what you could expect is something along the lines of this:
[QUOTE=Office Space]
Michael Bolton: We get caught laundering money, we’re not going to white-collar resort prison. No, no, no. We’re going to federal POUND ME IN THE ASS prison.
[/QUOTE]
ETA: There are more examples on the TV tropes page here: