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      04-01-2007, 10:37 PM   #23
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Quote:
Originally Posted by ska View Post
is call money laundry...funding of terrorist, funding for drugs and hoes....etc

Dawm , some of you need to take a Finance 101 class
Please tell me how im committing money laundry when i deposit MY money in an over seas account, and how is that funding terrorism?
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      04-01-2007, 11:04 PM   #24
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Quote:
Originally Posted by chade7320 View Post
Please tell me how im committing money laundry when i deposit MY money in an over seas account, and how is that funding terrorism?
well, you ask why that an offshore bank will report your info to the irs/gov....
money laundry is one reason...but of course if we're just talking about small amount of money, then you should be fine
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      04-01-2007, 11:09 PM   #25
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Now I remember blow! I just didnt remember the part where the panamanan goberment took all the money lol
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      04-01-2007, 11:16 PM   #26
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Quote:
Originally Posted by MonacoBimm View Post
Now I remember blow! I just didnt remember the part where the panamanan goberment took all the money lol
Damn i just realized you live in panama...lol Blow is the shit i watch that movie at least once a week lol
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      04-01-2007, 11:17 PM   #27
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Since september 11 the U.S. government has been able to pressure countries like the cayman islands to release information on suspected terrorist money landering and things like that. So when these banks open their doors to the U.S. government they get to see everyones accounts. So it is possible in the future your information could be released to the government depending on where your money is.
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      04-01-2007, 11:23 PM   #28
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Quote:
Originally Posted by borsalino View Post
Since september 11 the U.S. government has been able to pressure countries like the cayman islands to release information on suspected terrorist money landering and things like that. So when these banks open their doors to the U.S. government they get to see everyones accounts. So it is possible in the future your information could be released to the government depending on where your money is.
there you go
Any suspicious activity will raise a flag on your account.....this is not just on checking/savings accounts, but also stock/mutaul fund account...etc
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      04-01-2007, 11:23 PM   #29
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Fuckn A....That sucks... I hope the swiss banks dont do that...
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      04-01-2007, 11:39 PM   #30
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Quote:
Originally Posted by chade7320 View Post
Fuckn A....That sucks... I hope the swiss banks dont do that...
I also hope the swiss banks don't do the same. I guess in today's world you have to careful which country you choose to deposit your money. I guess it should preferibly be strong nation who cannot be easily bullied by the U.S.
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      04-01-2007, 11:44 PM   #31
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Quote:
Originally Posted by borsalino View Post
I also hope the swiss banks don't do the same. I guess in today's world you have to careful which country you choose to deposit your money. I guess it should preferibly be strong nation who cannot be easily bullied by the U.S.
Yea good call...
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      04-02-2007, 12:16 AM   #32
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99% of people in this thread dont know wtf they talking about (irs and fbi ? lol ) ... I wouldnt ask this question here man...

if someone wires you money to your offshore bank account YOU DONT NEED TO FILE TAXES ON IT and it's completely legal... ONCE you withdraw money from bank machine then you need to declare that on your taxes, so as long as you not taking out anything in your country you're fine...

example: company wires you 100k to you offshore account, and you dont touch it, you are not supose to file taxes in usa... but if you go to the bank and withdraw 5k from you offshore account with visa they give you, then you declare 5k on your taxes...
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      04-02-2007, 09:21 AM   #33
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Quote:
Originally Posted by flush01 View Post
99% of people in this thread dont know wtf they talking about (irs and fbi ? lol ) ... I wouldnt ask this question here man...

if someone wires you money to your offshore bank account YOU DONT NEED TO FILE TAXES ON IT and it's completely legal... ONCE you withdraw money from bank machine then you need to declare that on your taxes, so as long as you not taking out anything in your country you're fine...

example: company wires you 100k to you offshore account, and you dont touch it, you are not supose to file taxes in usa... but if you go to the bank and withdraw 5k from you offshore account with visa they give you, then you declare 5k on your taxes...
That is not true...legally, please tell me where you found that information i have never heard that.
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      04-02-2007, 03:29 PM   #34
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Quote:
Originally Posted by flush01 View Post
99% of people in this thread dont know wtf they talking about (irs and fbi ? lol ) ... I wouldnt ask this question here man...

if someone wires you money to your offshore bank account YOU DONT NEED TO FILE TAXES ON IT and it's completely legal... ONCE you withdraw money from bank machine then you need to declare that on your taxes, so as long as you not taking out anything in your country you're fine...

example: company wires you 100k to you offshore account, and you dont touch it, you are not supose to file taxes in usa... but if you go to the bank and withdraw 5k from you offshore account with visa they give you, then you declare 5k on your taxes...
I have never heard of this rule either. I see that you are also from Canada so I am assuming this rule applys in Canada and not the U.S. Also you seem to know alot about this subject so could you direct me to where I can find out more about the rules and regulations that apply. thanks
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      04-02-2007, 03:54 PM   #35
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Quote:
Originally Posted by borsalino View Post
Since september 11 the U.S. government has been able to pressure countries like the cayman islands to release information on suspected terrorist money landering and things like that. So when these banks open their doors to the U.S. government they get to see everyones accounts. So it is possible in the future your information could be released to the government depending on where your money is.
+1,000

It actually had more to do with VISA/MASTERCARD. Post 9/11 they were req'd to disclose the source of payments on these accounts. US Citizens would only use credit cards for purchases in the US and pay off the accounts using funds from foreign banks (eg, Caymans, Swiss, etc etc). I remember being in the Caymans back in 2003 and seeing tons of R/E for sale because of it.
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      04-03-2007, 07:19 PM   #36
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Quote:
Originally Posted by Socom View Post
+1,000

It actually had more to do with VISA/MASTERCARD. Post 9/11 they were req'd to disclose the source of payments on these accounts. US Citizens would only use credit cards for purchases in the US and pay off the accounts using funds from foreign banks (eg, Caymans, Swiss, etc etc). I remember being in the Caymans back in 2003 and seeing tons of R/E for sale because of it.
Are the credit card companies required to disclose this information or the banks?
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