Discussion
Markbarry1977 said:
But a cheap 40 footer say £50k from legitimate sources (sell my house). Put £750k in the bilges and keel out the way. Sail £750k to caymans (or country of choice to spend the rest of your life who don't ask too many questions). Buy the massive £300k yacht of your desires out there with money stowed away with and sell your original cheap yacht back on. Live remainder of your life sunbathing and drinking.
iirc property on the caymans is really expensive + 300k for a yacht and maintence + living costsyou'd run out of money imo
EnthusiastOwned said:
SpeckledJim said:
FoxtrotOscar1 said:
Live normally with a few added extras.
Swap out current cars for leggy 12mpg guzzlers.
Range rover 5.0 Supercharged for you and maybe a 5.0 Sport for the Mrs. £ 40k
Run them only on super unleaded.
Service them regularly, premium parts etc.
Fix what breaks etc.
Premium tyres. £200 a corner.
Home improvements. Gardens. Kitchens. Floors. Bathrooms. Driveway. Garage.
New Tv's, Hi-fi's. Computers.
2-3 holidays a year. Change over a fair amount for spending money. Have a few hundred in wallet to change over when abroad and use terrible exchange rate etc.
Use credit card for occasional items. Pay back credit card in cash in bank in small amounts £40-£50 a time.
Be generous. Buy friends and relatives nice birthday / Christmas gifts. (same applies for the wife)
Up your mortgage payment a little and use your wages to pay it. (your not going to need your wages for much else other than house hold bills.
Stop shopping in Aldi, change to Waitrose or even Sainsburys. Buy the expensive ones of everything. Expensive wine habit etc.
It really wouldn't take much imo.
Calm down, Brewster.Swap out current cars for leggy 12mpg guzzlers.
Range rover 5.0 Supercharged for you and maybe a 5.0 Sport for the Mrs. £ 40k
Run them only on super unleaded.
Service them regularly, premium parts etc.
Fix what breaks etc.
Premium tyres. £200 a corner.
Home improvements. Gardens. Kitchens. Floors. Bathrooms. Driveway. Garage.
New Tv's, Hi-fi's. Computers.
2-3 holidays a year. Change over a fair amount for spending money. Have a few hundred in wallet to change over when abroad and use terrible exchange rate etc.
Use credit card for occasional items. Pay back credit card in cash in bank in small amounts £40-£50 a time.
Be generous. Buy friends and relatives nice birthday / Christmas gifts. (same applies for the wife)
Up your mortgage payment a little and use your wages to pay it. (your not going to need your wages for much else other than house hold bills.
Stop shopping in Aldi, change to Waitrose or even Sainsburys. Buy the expensive ones of everything. Expensive wine habit etc.
It really wouldn't take much imo.
That's not laundering it, that's just spending it.
I work in a similar industry that regulates this
A lot of what has been said would be possible 20-10- maybe 5 years ago , less so now, im not saying not possible, but AML regulations and due diligence has got a lot better, along with monitoring.
Law enforcement agencies are focussing and prosecuting more on the Money Laundering element of crimes, for example drug dealing, to catch the criminals, sometimes more than the actual drug dealing.
A lot of the smaller schemes, such as using fixed payout machines etc might work but would be so bloody monotonous and the machines have controls and the shops CCTV so a lot of agro to drip feed money out.
It has been reported lots of money is laundered through London, especially the property market, which is great steady investment in itself, but these are big big schemes using offshore companies with nominated owners etc etc
On a smaller level like this thread, ideally you need access to a cash rich business to get it done and not be too greedy. I often drive through London suburbs and think there cant be that many people who like fried chicken....Or on a similar note, barbers, busy barbers with 10 chairs and £20 a time. If you want to be really careful even pay tax on the money being laundered.
Doing anything that is multi jurisdictional , Ie a company in one country and a company in another would slow down being caught, due to the different laws, regulations and co operation, maybe even more so post brexit
A lot of people get caught through being stupid and greedy, for example driving round with a loud ferrari . I often wonder how many people out there have done well laundering through being very discreet and not drawing attention to themselves...bit like Layer Cake
A lot of what has been said would be possible 20-10- maybe 5 years ago , less so now, im not saying not possible, but AML regulations and due diligence has got a lot better, along with monitoring.
Law enforcement agencies are focussing and prosecuting more on the Money Laundering element of crimes, for example drug dealing, to catch the criminals, sometimes more than the actual drug dealing.
A lot of the smaller schemes, such as using fixed payout machines etc might work but would be so bloody monotonous and the machines have controls and the shops CCTV so a lot of agro to drip feed money out.
It has been reported lots of money is laundered through London, especially the property market, which is great steady investment in itself, but these are big big schemes using offshore companies with nominated owners etc etc
On a smaller level like this thread, ideally you need access to a cash rich business to get it done and not be too greedy. I often drive through London suburbs and think there cant be that many people who like fried chicken....Or on a similar note, barbers, busy barbers with 10 chairs and £20 a time. If you want to be really careful even pay tax on the money being laundered.
Doing anything that is multi jurisdictional , Ie a company in one country and a company in another would slow down being caught, due to the different laws, regulations and co operation, maybe even more so post brexit
A lot of people get caught through being stupid and greedy, for example driving round with a loud ferrari . I often wonder how many people out there have done well laundering through being very discreet and not drawing attention to themselves...bit like Layer Cake
If you want to spend it freely, you want to be out of the UK and somewhere with lower levels of monitoring or high corruption.
You'd want to convert the cash into some more useful and less traceable assets... probably a blend of gems, gold, dollars, euros and then find a way of getting them to somewhere that you can live for a while. Put the gems and cash in a range of safety deposit boxes and trickle cash into separate local bank accounts at $1000/month.
You'd want to convert the cash into some more useful and less traceable assets... probably a blend of gems, gold, dollars, euros and then find a way of getting them to somewhere that you can live for a while. Put the gems and cash in a range of safety deposit boxes and trickle cash into separate local bank accounts at $1000/month.
imo the end game here is property: if you can buy 2 x £500k properties with cleaned money (one in london and one in the cayman islands) then you can rent the london one out and retire in the sun 
eta - had a look online and £500k gets you almost nothing in the cayman islands!
(
eta - had a look online and £500k gets you almost nothing in the cayman islands!
(Edited by WCZ on Thursday 4th May 15:02
I'd set up a predominantly cash business (small shop, car wash, takeaway etc). Take out a mortgage on the business premises and then go about drip feeding the money through the business and paying off the mortgage (overpay but don't take the piss).
You'd have to make sure that the tax situation was water tight (hire a good accountant), and not be too greedy (fried chicken shops probably don't make £500,000 a year clear profit). And within a few years you should have some profit in your business account (tax paid) and a paid for business premises as assets. Cash in and ride off into the sunset.
You'd have to make sure that the tax situation was water tight (hire a good accountant), and not be too greedy (fried chicken shops probably don't make £500,000 a year clear profit). And within a few years you should have some profit in your business account (tax paid) and a paid for business premises as assets. Cash in and ride off into the sunset.
WCZ said:
imo the end game here is property: if you can buy 2 x £500k properties with cleaned money (one in london and one in the cayman islands) then you can rent the london one out and retire in the sun
eta - had a look online and £500k gets you almost nothing in the cayman islands!(
Not least they won't let you stay there.eta - had a look online and £500k gets you almost nothing in the cayman islands!
(Edited by WCZ on Thursday 4th May 15:02
You need somewhere with much lighter regulation than an island based on banking!
WCZ said:
it's an absolute fact. 40% is pretty common and there are people in London you can go to with a suitcase of cash who'll sort you out.
So you rock up with a suitcase full of cash, they promise to launder it and not smash you over the skull while pocketing your delivery. It's not like you could go to the police to report it.Great plan!
wiffmaster said:
* Set up art gallery in posh London location
Similar, pop-up fashion shop. Your T shirts and hoodies cost £100, £200 and you happen to sell 1000 of them in the short time you are open, £100-200k, a few pop-up shops and you're done.- Train a chimp to paint rubbish 'modern art' pieces and put them in the window display at £5,000 a pop
- 'Sell' a couple of pieces each week (by 'sell' I mean 'throw on a bonfire')
I remember a good few years ago I would always see these same guys hanging around a local barber shop near where I was living, all times of the day, they also ran a car wash round the corner that id see them dipping in and out of quite often. The one guy drove a big blacked out Audi Q7 and happened to be a known coke dealer. Probably just coincidence though...
You'll seriously struggle to buy any property with cash as most solicitors won't even accept it other than for payment of small bills.
The reporting rules used to be that you had to declare any cash transaction over £10K. One local firm to me had a client who kept buying lock up garages for cash for £9,999.
The reporting rules used to be that you had to declare any cash transaction over £10K. One local firm to me had a client who kept buying lock up garages for cash for £9,999.
TwistingMyMelon said:
Law enforcement agencies are focussing and prosecuting more on the Money Laundering element of crimes, for example drug dealing, to catch the criminals, sometimes more than the actual drug dealing.
Makes sense Why get involved trying to catch the criminal red handed with the drugs, when you can wait for him to try to clean the cash.
Far easier to turn up with a warrant at the bank and get your questions answered than bringing in "big Tony" and getting "no comment" answers.
ky art galleries in Sh8tditch.Guess which business was co-located with this cannabis farm?
http://www.cambridge-news.co.uk/news/cambridge-new...
now re-opened with a big 'under new management' sign.
http://www.cambridge-news.co.uk/news/cambridge-new...
now re-opened with a big 'under new management' sign.
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