Definition of money laundering

[Countdown]

anonymous said:

[redacted]

Ok. In that case I suggest OP googles “Money Mule consequences”.

[lyonspride]

The most common form of money laundering is changing money for goods and then selling the goods for clean money.

[Kent Border Kenny]

It’s hard to believe that this is a genuine question. It’s clearly dishonestly, very possibly fraudulent, and yet you want to use your children to help out?

Why your children not you? Oh, silly question, you know it’s bent as hell and think that using children avoids the consequences.

[Graveworm]

5STM5 said:

Hello all,
Overseas relative wants a U.K. bank account opened to keep travel funds for their regular trips back here. If one was opened in mine or one of my kids names and our address here, for their sole use, would that contravene any money laundering laws?
Thanks

Probably not "Money laundering" but probably, technically, fraud (Unless you or your children tell the bank the real circumstances). It's unlikely to get that far but the bank may think it's odd and then make disclosures; which in some circumstances can cause problems. There are easier ways around this, that cost nothing, most of which have already been mentioned.

Edited by Graveworm on Sunday 17th November 22:47

[wisbech]

In Indonesia there used to be a common tax dodge for commission based sales (insurance agents etc). They would get a company holiday/ conference abroad for hitting target, then get their bonus handed over as cash ‘expenses’ while abroad, which they would bank and omit to put on their tax declaration

It was also the case that Italians spent more on exotic holidays vs income than other Europeans. If you have cash that you haven’t paid tax on, spending a lot/ most of it abroad reduces the chance of awkward questions from the taxman about your spending. Something similar here perhaps? This could also be why they don’t want to use cards from home - that can be easily seen/ reported to tax auditors

[TVR1]

Seems like the OP is Nick the Greek against Rory https://www.nationalcrimeagency.gov.uk/ Breaker.

I cant believe you're that stupid, OP.


https://youtu.be/TRYE5gPoI8A

[Ed/L152]

Using your children's identity to commit fraud is pretty scummy.

Edited by Ed/L152 on Monday 18th November 09:33

[5STM5]

I’ve deleted the original post. It’s been taken way out of context, and some of the responses are laughable.

[Countdown]

5STM5 said:

I’ve deleted the original post. It’s been taken way out of context, and some of the responses are laughable.

Was that the post where you were thinking of opening a bank account in your name or your kids name for somebody who lives abroad (so they could pay money in /take money out when they “visit’) and asking whether you could get into trouble for this?

I cant understand how that could possibly be taken out of context

[The Mad Monk]

5STM5 said:

I’ve deleted the original post. It’s been taken way out of context, and some of the responses are laughable.

One or two of us have quoted the original post in our responses.

[Killer2005]

Countdown said:

5STM5 said:

I’ve deleted the original post. It’s been taken way out of context, and some of the responses are laughable.

Was that the post where you were thinking of opening a bank account in your name or your kids name for somebody who lives abroad (so they could pay money in /take money out when they “visit’) and asking whether you could get into trouble for this?

I cant understand how that could possibly be taken out of context

Especially when his full name is in his profile.

[Durzel]

I don’t know what you guys are getting so high and mighty about, I open bank accounts with fraudulent details for my relatives - who have no identity apparently - because they need “spending money” all the time. No big deal.

[wisbech]

We have just opened an Aussie bank account, but as non resident

All needed was passport and home country tax ID number. Hardly onerous. Some confusion as they wanted tax ID for my wife as well, but we file jointly, but the system was OK with one ID for both of us it turned out.