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Le_Canard
The Duk Abides


Registered: 05/16/03
Posts: 94,392
Loc: Earthfarm 1
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Re: Depositing illegally acquired cash into bank account [Re: Prisoner#1]
#6742520 - 04/03/07 02:25 PM (16 years, 9 months ago) |
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Quote:
Prisoner#1 said:
Quote:
butane said: Hypothetically speaking, if one were ordering certain chemicals on the internet and then selling them to friends, how risky is it to keep depositing this cash into a bank account and then using the debit card to purchase more chemicals online?
one of the dumbest plans ever, online purchases are easily tracked, the cash deposits are the least of your worries, the watched chemicals will send up a red flag and have the 'purchasing agent' under surveilance in no time
Yes, you've left a pretty clear paper trail there.
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dedjam
Electro Penguin




Registered: 12/14/05
Posts: 2,139
Loc: Moralton, Statesota
Last seen: 12 years, 8 months
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Re: Depositing illegally acquired cash into bank account [Re: Le_Canard]
#6745370 - 04/04/07 07:39 AM (16 years, 9 months ago) |
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Quote:
ToiletDuk said: Yes, you've left a pretty clear paper trail there.
There is ALWAYS a paper trail, whether you create it or not, someone else is. A paper trail isnt a bad thing, its when the trail leads back to you that the problems arise. Always leave a paper trail, but make sure it leads to a dead end...that takes some time and logical thinking, which most small time drug dealer wannabe's seem to be missing.
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ninfan77
Stranger
Registered: 09/30/06
Posts: 68
Last seen: 15 years, 3 months
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Re: Depositing illegally acquired cash into bank account [Re: dedjam]
#6749646 - 04/05/07 07:54 AM (16 years, 9 months ago) |
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This is why you dont use banks.
You can pay for most bills in cash w/ no problems. A few friends can quickly canvas an area to buy money orders if you need to make large purchases. Or just use a credit card and then pay that down over time.
If you want to buy a car/house yea you're gonna need to finance it to avoid suspicion. But then just pay up to 1500 a month on it. sure takes time, but better than being caught for buying a 20,000 car in cash.
If your credit sucks, get a friend to take out the loan, pay it off for them, their credit goes up, and its reasonably simple to hand off property to another person. Pay some laywer/realtor fees for property, and just pay the title xfer fees for cars.
You could start a business, LLC preferably, but this will take more work on your part. Investing into a business may be a better idea. Obviously you can't go out and tell Papa John's you got $100,000 to franchise with. They are going to want bank records, credit history, etc etc.
But a local business that does well, looking to expand, always needs investors. And very few will ask questions.
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RoosterCogburn
Fearless,one-eyed U.S.Marshall



Registered: 08/25/06
Posts: 8,508
Loc: Dirty South, NJ
Last seen: 12 years, 4 months
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Re: Depositing illegally acquired cash into bank account [Re: ninfan77]
#6749693 - 04/05/07 08:09 AM (16 years, 9 months ago) |
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1. Buy a good, fireproof heavy ass safe. 2. Memorize combination over a few days. 3. Trade drugs for cash. 4. Stack cash in safe until full. 5. Check out and move to Costa Rica.
Fuck banks... My single bank account exists for the sole purpose of holding less than $5,000 and having a debit card for all my legal purchases. I only deposit paychecks and tax refunds in there...
ANYTHING I make doing anything else, even very legal programming side jobs, goes into a safe. No one but ME needs to know my fucking business.
I been fucked over by banks long enough... I don't need them sending SARs on my behalf!
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StroFun
Repeater


Registered: 07/11/06
Posts: 977
Loc: Mycotopia.net
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Re: Depositing illegally acquired cash into bank account [Re: RoosterCogburn]
#6774458 - 04/11/07 10:21 AM (16 years, 9 months ago) |
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Would a sar be filed if one were to disperse funds through separate banks?
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dedjam
Electro Penguin




Registered: 12/14/05
Posts: 2,139
Loc: Moralton, Statesota
Last seen: 12 years, 8 months
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Re: Depositing illegally acquired cash into bank account [Re: StroFun]
#6774572 - 04/11/07 10:55 AM (16 years, 9 months ago) |
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Quote:
StroFun said: Would a sar be filed if one were to disperse funds through separate banks?
depends on the situation, and the amounts. If you do throw up flags at either bank, and local law in altered then you will have alot more explaining to do. Of course, if you are doing small deposities in multiple accounts, then you will be ok...for a little while. But dont forget, your accounts are record..when tax time comes you better hope you dont get audited with all those accounts with small numbers filling them up.
If it appearts you are trying to avoid getting a SAR filed on you, but structuring your deposites so they consistently remain under reporting requirements, then that is also a reason to file a SAR.
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p0ng
Stranger

Registered: 11/08/05
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Last seen: 6 years, 11 months
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Re: Depositing illegally acquired cash into bank account [Re: dedjam]
#6778499 - 04/12/07 09:45 AM (16 years, 9 months ago) |
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banks are as gay as aids
-------------------- Co-President of http://www.FantomFitness.com
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Legend9123



Registered: 09/24/06
Posts: 2,590
Last seen: 8 months, 12 days
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Re: Depositing illegally acquired cash into bank account [Re: p0ng]
#6779346 - 04/12/07 03:15 PM (16 years, 9 months ago) |
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Constructive comment.....
I think the best way to do it is to not put it in a bank and instead keep it in a safe. As was said there is no need for the government to need to know everything going on.
-------------------- Those who would give up a little freedom to get a little security shall soon have neither. -Benjamin Franklin
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guitarguy0123
Stranger


Registered: 02/26/07
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Re: Depositing illegally acquired cash into bank account [Re: Legend9123]
#6780330 - 04/12/07 07:50 PM (16 years, 9 months ago) |
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Maybe look into offshore bank accounts from countries that aren't best buddies with whatever country you're in.
-------------------- I don't know what's gonna happen man, but I wanna have my kicks before the whole shithouse goes up in flames. -Jim Morrison
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dedjam
Electro Penguin




Registered: 12/14/05
Posts: 2,139
Loc: Moralton, Statesota
Last seen: 12 years, 8 months
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Re: Depositing illegally acquired cash into bank account [Re: guitarguy0123]
#6782108 - 04/13/07 06:41 AM (16 years, 9 months ago) |
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Quote:
guitarguy0123 said: Maybe look into offshore bank accounts from countries that aren't best buddies with whatever country you're in.
Unless you are traveling there, good luck getting it wired across. Plus the big banks in the Camans and the Swiss banks require big money to open annonymous accounts. Then you have to figure out how to get your money into those accounts....usually the best way is to route it through multinational companies. A wiretransfer will still get you taxed and listed, and there will still be a paper trail.
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StroFun
Repeater


Registered: 07/11/06
Posts: 977
Loc: Mycotopia.net
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Re: Depositing illegally acquired cash into bank account [Re: dedjam]
#6782787 - 04/13/07 11:33 AM (16 years, 9 months ago) |
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keep it in the safe until when? I wouldn't want dirty money in my house. I wouldn't want to use dirty money to make legitimate purchases either.
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kotik
fuckingsuperhero


Registered: 06/29/04
Posts: 3,531
Last seen: 4 years, 23 days
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Re: Depositing illegally acquired cash into bank account [Re: StroFun]
#6784373 - 04/13/07 07:10 PM (16 years, 9 months ago) |
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put illegally acquired cash (to save) into ANNUITIES. They are probably the only type of account you can open that not even the IRS, FBI, etc. can touch.
-------------------- No statements made in any post or message by myself should be construed to mean that I am now, or have ever been, participating in or considering participation in any activities in violation of any local, state, or federal laws. All posts are works of fiction.
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fastfred
Old Hand



Registered: 05/17/04
Posts: 6,899
Loc: Dark side of the moon
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Re: Depositing illegally acquired cash into bank account [Re: kotik] 1
#6785230 - 04/13/07 11:13 PM (16 years, 9 months ago) |
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> I wouldn't want dirty money in my house.
US bills have mostly cotton in them, so you can just throw them in the washer. That should clean them up and give them that cool washed look.
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HUBSonDUBS



Registered: 09/01/05
Posts: 890
Last seen: 8 hours, 31 minutes
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Re: Depositing illegally acquired cash into bank account [Re: fastfred]
#6822093 - 04/23/07 07:07 AM (16 years, 9 months ago) |
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I dunno I just doposited $3,400 into my account all in 100 dollar bills and just handed it to the guy and he put it into my account.
--------------------
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dedjam
Electro Penguin




Registered: 12/14/05
Posts: 2,139
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Last seen: 12 years, 8 months
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Re: Depositing illegally acquired cash into bank account [Re: HUBSonDUBS]
#6826503 - 04/24/07 07:44 AM (16 years, 9 months ago) |
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Quote:
HUBSonDUBS said: I dunno I just doposited $3,400 into my account all in 100 dollar bills and just handed it to the guy and he put it into my account.
Congradulations, computers are now processing that data and printing up a report. Because it was a transaction over 3k, there will be a special report to be reviewed of that transaction. If it differs from your normal banking routine the software will pick up on that and send up a flag for account review. When the bank employee checks your account they will decide if it looks suspicious and from there a SAR may be filled out.
Realize all this happens without you knowing. By LAW you are NOT allowed to know. A tellers job is to take your money and smile, not alert you to what is being done behind the scenes.
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RemainRandom50
Do You Need ToKnow Me?
Registered: 01/15/06
Posts: 1,695
Last seen: 14 years, 9 months
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Re: Depositing illegally acquired cash into bank account [Re: dedjam]
#6829344 - 04/24/07 09:00 PM (16 years, 9 months ago) |
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IMO, as told from a wise man.
NEVER use the cash from illegal items (anything including drugs) to deposit into the bank. It will only make more problems arise.
-------------------- At times I get consumed by my everyday life and will leave the Shroomery. Yet, every time drugs come falling into my life for fun.....I always think about the Shroomery and then I'm back!
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Hippie Chemist
Freeing Minds


Registered: 04/05/07
Posts: 430
Loc: Far Out There
Last seen: 15 years, 9 months
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Re: Depositing illegally acquired cash into bank account [Re: RemainRandom50]
#6829447 - 04/24/07 09:23 PM (16 years, 9 months ago) |
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Don't sell RC's for a lot of profit. Just make enough to buy another couple grams, and save the rest. After all, +98% pure won't be available forever, dude. Imagine how nice it would be to have a closed container of Sandoz LSD-25 for the aesthetic value...and a few vials on the side for personal use, of course.
-------------------- Long you live and high you fly And smiles you'll give and tears you'll cry And all you touch and all you see Is all your life will ever be. -Pink Floyd-
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Diploid
Cuban



Registered: 01/09/03
Posts: 19,274
Loc: Rabbit Hole
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Re: Depositing illegally acquired cash into bank account [Re: butane]
#6830655 - 04/25/07 03:40 AM (16 years, 9 months ago) |
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I think that with the recent passing of the Patriot Act, a lot of electronic snooping and cross referencing of ALL deposits, regardless of amount, is taking place. They're looking for patterns, not dollar amounts, to find terrorists as well as pot heads.
If you're doing something the law doesn't like, don't use a bank. They're all in bed with the government.
That said, here are some details that are known with some certainty.
--
Avoiding suspicious activity reports in cash transactions by Blaine O'Connor
Many people ask "just what is considered illegal or suspicious activity when moving cash?" Some people have gone to the bank with the cash proceeds of a garage sale or a car sale on the weekend, and recounted horror stories of multiple questions by bank employees and have sometimes been reported to the government as suspected criminals. The reality is that such reporting is very plausible. Most western countries have enacted cash transaction legislation that mandates it. In Australia and Canada, anything over $10,000 must be reported to regulators, and any amount under that that bank staff deem suspicious. Likewise in the U.S. So, if you’re unusually scruffy-looking and wander into a bank with only $4,000 cash to deposit - well below the $10,000 limit - it’s still very possible you could be reported to authorities by the teller. (See our article Money Laundering Defined for details on U.S. Currency Transfer Reports, or CTRs.) Here’s a list of most things that can trigger staff’s suspicion and get you reported next time you go to the bank. Banks will not give you a list of or even admit the existence of these criteria, regardless how much you ask.
- A customer refuses to provide identification or explain the purpose of a transaction. - A customer has a known criminal background and engages in substantial transactions. - A customer is ignorant of basic facts regarding the transaction or is unconcerned about rates, taxes, etc. - A customer is controlled by another person, particularly where the customer appears unaware, infirm or elderly and is accompanied by a non-relative. - A customer conducts cash transactions when his/her employment or business does not ordinarily generate or require such amounts of cash. - A customer repeatedly sends or receives wire transfers of any dollar amount when his/her business does not normally require or originate such wires. - A customer has no apparent source of income, yet conducts repeated transactions. - A customer offers a seller a gift, gratuity or bribe to complete a transaction. - A customer divides transactions into smaller amounts to avoid identification or reporting requirements.
Suspicious Customer Behavior
- Customer has an unusual or excessively nervous demeanor. - Customer discusses your record keeping or reporting duties with the apparent intention of avoiding them. - Customer threatens an employee attempting to deter a record keeping or reporting duty. - Customer is reluctant to proceed with a transaction after being told it must be reported. - Customer suggests payment of a gratuity to an employee of the financial institution. - Customer appears to have a hidden agenda or behaves abnormally, such as bypassing the chance to obtain a higher interest rate on a large account balance. - Customer who is a public official opens account in the name of a family member who begins making large deposits not consistent with the known legitimate sources of income of the family. - Customer makes a large cash deposit without counting the cash. - Customer frequently exchanges small bills for large bills. - Customer's cash deposits often contain counterfeit bills or musty or extremely dirty bills. - Customer who is a student uncharacteristically transfers or exchanges large sums of money. - Account shows high velocity in the movement of funds but maintains low beginning and ending daily balances. - Transaction includes correspondence received that is a copy rather than original letterhead. - Transaction involves offshore institutions whose names resemble those of well-known legitimate financial institutions. - Transaction involves unfamiliar countries or islands that cannot be found in an atlas or map. - Agent, attorney or financial advisor acts for another person without proper documentation such as a power of attorney.
Suspicious Customer Identification Circumstances
- Customer furnishes unusual or suspicious identification documents and is unwilling to provide personal background data. - Customer is unwilling to provide personal background information when opening an account. - Customer opens an account without identification, references or a local address. - Customer's permanent address is outside the bank's service area or outside the country. - Customer's home or business telephone is disconnected. - A business customer is reluctant to reveal details about the business activities or to provide financial statements or documents about a related business entity. - Customer provides no record of past or present employment on a loan application. - Customer claims to be a law enforcement agent conducting an undercover operation, when there are no valid indications to support that.
Suspicious Cash Transactions
- Customer comes in with another customer and they go to different tellers to conduct currency transactions of less than $10,000. - Customer makes large cash deposit containing many $50 and $100 dollar bills. - Customer opens several accounts in one or more names, then makes several cash deposits that are less than $10,000. - Customer conducts unusual cash transactions through night deposit boxes, especially large sums that are not consistent with the customer's business. - Customer makes frequent deposits or withdrawals of large amounts of currency for no apparent business reason, or for a business that generally does not generate large amounts of cash. - Customer conducts several large cash transactions at different branches on the same day, or orchestrates persons to do so on his behalf. - Customer deposits cash into several accounts in amounts below $10,000 and then consolidates the funds into one account and wire transfers them outside of the country. - Customer attempts to take back a portion of a cash deposit that exceeds $10,000 after learning that a currency transaction report will be filed on the transaction. - Customer conducts several cash deposits below $10,000 at automated teller machines. - Corporate account has deposits or withdrawals primarily in cash rather than cheques. - Customer frequently deposits large sums of cash wrapped in currency straps, stamped by other banks. - Customer makes frequent purchases of monetary instruments for cash, in amounts less than $10,000. - Customer conducts an unusual number of foreign currency exchange transactions. - Customer frequently uses foreign currency to purchase bank cheques under $3,000.
Suspicious Non-Cash Deposits
- Customer deposits a large number of traveller's cheques often in the same denomination and in sequence. - Customer deposits money orders bearing unusual markings.
Suspicious Wire Transfer Transactions
- Non-accountholder sends wire transfer with funds that include numerous monetary instruments of less than $10,000 each. - An incoming wire transfer has instructions to convert the funds to bank cheques and mail them to a non-accountholder. - A wire transfer that moves large sums to secrecy havens such as the Cayman Islands, Hong Kong, Luxembourg, Panama or Switzerland. - An incoming wire transfer followed by an immediate purchase by the beneficiary of monetary instruments for payment to another party. - An increase in international wire transfer activity, in an account with no history of such activity or where the stated business of the customer does not warrant it. - Customer frequently shifts purported international profits by wire transfer out of their home country. - Customer receives many small incoming wire transfers and then orders a large outgoing wire transfer to another country. - Customer deposits bearer instruments followed by instructions to wire the funds to a third party. - Account in the name of a currency exchange house receives wire transfers or cash deposits of less than $10,000.
Suspicious Safe Deposit Box Activity
- Customer's activity increases in the safe deposit box area, possibly indicating the safekeeping of large amounts of cash. - Customer often visits the safe deposit box area immediately before making cash deposits of sums less than $10,000. - Customer rents multiple safe deposit boxes.
Suspicious Activity in Credit Transactions
- A customer's financial statement makes representations that do not conform to Generally Accepted Accounting Principles. - A transaction is made to appear more complicated than it needs to be by use of impressive but nonsensical terms such as "emission rate," "prime bank notes," "standby commitment," "arbitrage" or "hedge contracts." - Customer requests loans to offshore companies or secured by obligations of offshore banks. - Customer suddenly pays off a large problem loan with no plausible explanation for the source of funds. - Customer purchases certificates of deposit and uses them as collateral for a loan. - Customer collateralises a loan with cash deposits. - Customer uses cash collateral located offshore to obtain a loan. - Customer's loan proceeds are unexpectedly transferred offshore.
Suspicious Commercial Account Activity
- Business customer presents financial statements noticeably different from those of similar businesses. - A large business presents financial statements that are not prepared by an accountant. - Retail business that provides cheque cashing service does not make large withdrawals of cash against cheque deposits, possibly indicating that it has another source of cash. - Customer maintains an inordinately large number of accounts for the type of business purportedly being conducted. - Corporate account shows little or no regular, periodic activity. - A transaction includes circumstances that would cause a banker to reject a loan application because of doubts about the collateral's validity.
Suspicious Trade Financing Transactions
- Customer seeks trade financing on the export or import of commodities whose stated prices are substantially more or less than those in a similar market situation. - Customer makes changes to a letter of credit beneficiary just before payment is to be made. - Customer changes the place of payment in a letter of credit to an account in a country, other than the beneficiary's stated location. - Customer's standby letter of credit is used as a bid or performance bond without the normal reference to an underlying project or contract, or in favor of unusual beneficiaries.
Suspicious Investment Activity
- Customer uses an investment account as a pass-through vehicle to wire funds, particularly to off-shore locations. - Investor seems unconcerned about the usual decisions to be made about an investment account such as fees or suitable investment vehicles. - Customer wants to liquidate a large position through a series of small transactions. - Customer deposits cash, money orders, traveller's cheques or bank cheques in amounts under $10,000 to fund an investment account. - Customer cashes out of annuities during the "free look" period or surrenders early.
Suspicious Employee Activity
- Employee exaggerates the credentials, background or financial ability and resources of a customer, in written reports the bank requires. - Employee frequently is involved in unresolved exceptions or recurring exceptions on exception reports. - Employee lives a lavish lifestyle that could not be supported by his or her salary. - Employee frequently overrides internal controls or established approval authority or circumvents policy. - Employee uses company resources to further private interests. - Employee assists transactions where the identity of the ultimate beneficiary or counter party is undisclosed. - Employee avoids taking holidays.
https://www.powerprivacy.com/site.php/arti/read/suspiciousactivityreports
-------------------- Republican Values: 1) You can't get married to your spouse who is the same sex as you. 2) You can't have an abortion no matter how much you don't want a child. 3) You can't have a certain plant in your possession or you'll get locked up with a rapist and a murderer. 4) We need a smaller, less-intrusive government.
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dedjam
Electro Penguin




Registered: 12/14/05
Posts: 2,139
Loc: Moralton, Statesota
Last seen: 12 years, 8 months
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Re: Depositing illegally acquired cash into bank account [Re: Diploid]
#6830960 - 04/25/07 07:32 AM (16 years, 9 months ago) |
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Quote:
Diploid said: They're looking for patterns, not dollar amounts, to find terrorists as well as pot heads.
No, we look for both, and a host of other things. Just stay away from banks with illegal money. Im telling you we write applications that look for so many things and compare and crunch so much data its insane.
Banks arent exactly happy about the provisions of the patriot act, as many banks dont care what their clients do, they want the money, but sadly the government has reached out its strong arm and put a choke hold on the banks. (Kinda good for me though, keeps me writing all sorts of new software every damn time they decide to change a standard)
They do look for pot heads though, well not pot heads, but drug crimes. I could swear some of the algorithms are designed specifically to target even small time dealers. Patterns are bad, but so are lack of patterns. Everything is bad. Heck, legal transactions with cash can get you in trouble unless you have documentation to back that up. Cash is being fazed out, as are checks now. The goal in the industry is to be all electronic as quick as possible. The Fed Reserve is working hard to come up with standards (X9.37) for all forms of electronic money transfers.
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mycologyslutbag
Stranger
Registered: 11/27/06
Posts: 17
Last seen: 12 years, 5 months
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Re: Depositing illegally acquired cash into bank account [Re: dedjam]
#6868235 - 05/03/07 04:22 PM (16 years, 8 months ago) |
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I can see what you're saying about cash being fazed out. What will people do to purchase drugs then? Or for prostitution. Or any illegal thing someone wants to purchase. Or when playing a poker game for money? Or what if someone wants to go to the strip club and spend his money anonymously? How can we faze out cash completely and still have anonymity? Or when you say fazed out do you mean mostly fazed out.
In my eyes, there's demand for the ability to make financial transactions completely anonymously, a demand which I see no end to. Are there other possibilities than cash for such transactions? That is, completely or nearly completely untracable transactions, for both parties in a trade?
Edited by mycologyslutbag (05/03/07 11:29 PM)
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