by Peppermint » Mon May 11, 2020 10:51 am
TallGuy19 wrote: ↑Sun May 10, 2020 9:15 pm
If you're making money illegally putting in a bank is the worst decision you could make, even if you're depositing in increments of less than $10,000 at a time. Law enforcement can use something called civil asset forfeiture to steal your money without ever charging you with a crime, and your options for recovering the cash are basically non-existent. If you haven't paid taxes on the money and can't prove that it came from a legitimate source, it should not be in a bank. I'm guessing the mob has figured that out by now.
That depends really, if your only source of income is by illegal means then yes even small increments is a bad idea. But if you put into the bank, an amount less than what you make doing the legal work you also do along with the illegal. Then, they’ll never notice a thing. But this is really only viable if you’re a common mid-level drug dealer. You could also put your money into offshore bank accounts, that the IRS and the rest of the federal government has no jurisdiction over. If you’re making the kind of money illegally that you cant risk using normal banks, then you can afford to take the extra step into using offshore accounts.
Best thing to do, that everyone here I think agrees with. Is taking that cash, and investing it into legitimate sectors. A private accountant isn’t going to ask where that cash came from, because they’re getting a cut from it, and if you’re making that kind of money you can easily afford a private freelance accountant that isn’t an employee of any banking system, or accounting agency like H&R Block. Even investment firms aren’t going to ask any questions, because all their clients are probably making shady investments and all they want to do is get paid too.
Money laundering is so easy, anyone can do it. I never understood why there have always been high profile criminals that don’t it.
[quote=TallGuy19 post_id=151180 time=1589170546 user_id=5887]
If you're making money illegally putting in a bank is the worst decision you could make, even if you're depositing in increments of less than $10,000 at a time. Law enforcement can use something called civil asset forfeiture to steal your money without ever charging you with a crime, and your options for recovering the cash are basically non-existent. If you haven't paid taxes on the money and can't prove that it came from a legitimate source, it should not be in a bank. I'm guessing the mob has figured that out by now.
[/quote]
That depends really, if your only source of income is by illegal means then yes even small increments is a bad idea. But if you put into the bank, an amount less than what you make doing the legal work you also do along with the illegal. Then, they’ll never notice a thing. But this is really only viable if you’re a common mid-level drug dealer. You could also put your money into offshore bank accounts, that the IRS and the rest of the federal government has no jurisdiction over. If you’re making the kind of money illegally that you cant risk using normal banks, then you can afford to take the extra step into using offshore accounts.
Best thing to do, that everyone here I think agrees with. Is taking that cash, and investing it into legitimate sectors. A private accountant isn’t going to ask where that cash came from, because they’re getting a cut from it, and if you’re making that kind of money you can easily afford a private freelance accountant that isn’t an employee of any banking system, or accounting agency like H&R Block. Even investment firms aren’t going to ask any questions, because all their clients are probably making shady investments and all they want to do is get paid too.
Money laundering is so easy, anyone can do it. I never understood why there have always been high profile criminals that don’t it.