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fastfred
Old Hand



Registered: 05/17/04
Posts: 6,899
Loc: Dark side of the moon
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> I could easily make up a ton of fake invoices and just pay tax on it at the end of the year.
The problem is if they try checking up on any of the invoices. When they find out the people and places don't exist or didn't pay the invoices they'll know what's up.
The problem is that the piddling amounts we're talking about won't draw any attention, they aren't even large enough to worry about laundering.
When you really need to launder money it's 100's of thousands at least, usually a million or better. Then it becomes a lot larger problem. You can't just write up invoices for huge sums, that would draw attention. People also don't pay large bills with cash.
-FF
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hallucinogenius
Mr Man



Registered: 02/01/10
Posts: 234
Loc: England.
Last seen: 10 years, 2 months
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Re: "Cleaning" Cash [Re: fastfred]
#12454293 - 04/25/10 02:54 PM (14 years, 27 days ago) |
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In the UK you can't deposit anything over £10,000 cash at a time without raising redflags and getting questioned. Unless your putting that much in on a regular basis. I was trained to look out for suspicious transactions when i started my work but forgot most of it.
-------------------- I can't wait for hell, it's going to be warm and all my friends will be there.
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illuminati
Strange


Registered: 06/17/07
Posts: 556
Loc: Aboard the T.A.R.D.I.S.
Last seen: 3 years, 8 months
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Re: "Cleaning" Cash [Re: fastfred]
#12456248 - 04/25/10 08:53 PM (14 years, 27 days ago) |
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I suppose that's true. I don't know if they'd be following up on much of it though, as long as you're paying taxes on it, unless they had some reason to think you were laundering.
For larger sums of money, do you think you could set up a bunch of shell companies whose main purpose is to "purchase" services from your other company? You could have a bunch of companies who do nothing but move money around between each other. I bet that would be hard as hell for them to figure out where that money came from. You'd probably want to have some legit income for each of the businesses, and just filter in illegitimate money as you can.
-------------------- I didn't get turned on I just got turned I wasn't as aroused as I was concerned for each one of 'em I've hurt and every time I've been burned I've got a lot to teach but even more to learn
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Grok
Has Been a Bad Boy



Registered: 12/03/03
Posts: 1,262
Loc: Greener Pastures
Last seen: 9 years, 8 months
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Quote:
illuminati said: For larger sums of money, do you think you could set up a bunch of shell companies whose main purpose is to "purchase" services from your other company? You could have a bunch of companies who do nothing but move money around between each other. I bet that would be hard as hell for them to figure out where that money came from. You'd probably want to have some legit income for each of the businesses, and just filter in illegitimate money as you can.
A forensic accountant would make short work of rooting out this scam.
Large volume money laundering isn't easy or cheap. I've often thought that part of why drugs are expensive is because the money paid loses value when it changes hands, especially when it piles up. It becomes risky to hold, depreciates naturally, can't be used safely for large purchases, and is expensive and risky to launder. I took an interest in money laundering out of curiosity and read whatever I could find a few years ago. It seems like most of the ideas have been tried, and the authorities are less than ignorant about them. The ones that work, we don't hear about.
The best course IMO is to just keep an operation small and use it to supplant everyday expenses, which frees up your legit income for savings, investment, and large asset purchases. Greed compounds all the risks involved with such operations.
Semi-related story: A few years ago I moved to a new town and was looking for a job. I got referred by another employer I had to go work up at this guy's property, clearing brush. Had no car at the time so I'd get rides from him. Real nice guy, paid generous. Nice house. Nice Cessna. No job or discernible source of income. Frequent out-of-town Cessna trips. It was suspicious as hell but I tend to mind my own business and didn't even pay it much mind. Maybe he inherited everything? Not more than a month or so goes by and I get a call from the guy who referred me. "Don't call or go up there anytime soon." Dude was moving some respectable weight in weed. Wakes up to the goon squad swarming his house one morning. Come to find out he was totally caught up in the money, and had been doing it for years and was complacent. If it's that obvious to someone like me, the end is in sight barring a dollop of luck.
-------------------- Entropy is increasing. To send me a PM, go to my journal
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Amphiprion



Registered: 04/16/10
Posts: 154
Loc: Mindeapoarctica
Last seen: 11 years, 1 month
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Re: "Cleaning" Cash [Re: Grok]
#12458308 - 04/26/10 06:51 AM (14 years, 26 days ago) |
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Good post Grok,
What about investing cash into slowly building yourself a legit gourmet shroom operation from the root lvl.
Start out with the basics then slowly build up your equipment inventory, hire your first staff member and start pumping out legit shrooms?
Hmmm.
-------------------- Amphi
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Prisoner#1
Even Dumber ThanAdvertized!


Registered: 01/22/03
Posts: 193,665
Loc: Pvt. Pubfag NutSuck
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Quote:
luvdemshrooms said: My ex wife works at a bank. The tellers are trained to "know your customer".
If a regular customer makes weekly deposits of 400.00 (as an example), and all of a sudden starts making deposits for thousands.... this is also supposed to be reported.
and being reported means nothing the vast majority of times, I've deposited and withdrawn sums in excess of $100k, paperwork was filed and never even raised an eyebrow... got stopped with $120k and that paperwork saved my butt
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