How is money laundering still a thing? Authorities can monitor everything and banks have to report everything. Are criminals learning new ways to launder money or are the authorities just pretending to be after them? I find this all so confusing.
Source: I sold 12 000 euros worth of BTC and my bank froze my account because of that.
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Real drug suppliers (not shitty dealers) use lawyers, accountants, fake receipts, web developers, and usually have shell corporations with cooked books to cover their ass.
do you have any idea how many transactions are made every minute, let alone every day? it's like searching for a needle in a gas giant unless you're retarded
Money laundering is huge. The English Premier League and most of continental soccer is a money laundering operation. London real estate is a favored way to launder money.
Google those two things. Pretty fascinating.
Shell corporations don't work anymore
Nah man that user saw a spy movie where it worked
you just have to pay a shitton of taxes to do it
Keep it under 10k retard. They flag transactions over 10k in personal accounts.
If I had sold that 12k in 3-4k batches, that would have been structuring and I would be in jail right now
lol stay naive I guess.
Drug world went old school and now trade in gold and silver
Cash based business still exist.
Space it out and don't be an obvious fuck.
It's super easy to launder crypto currency.
Recipe, viable for around $200k upwards:
Develop a crypto casino (simple dice site is enough)
Gambling license in Costa Rica or Curacao
=> Annual gambling license fees $10000
Infrastructure outside of EU/US: $2000
Gamble in your own casino until it's all "gone"
(automated, with many accounts, Tor, VPNs, save the logs)
So around $12000 annually to run a 100% legit crypto money laundering operation.
Plus maybe $1k for an accountant (not much work for him)
Make it an even $20k / year to launder arbitrary amounts of crypto
What do you mean they froze your account? Lets say i have 15k in crypto. If i sold it all and cashed out i would have my bank account frozen?
Hopefully you do some jail time, not county either
The point of shell corporations is that the real owner stays a secret. That's over now, even in Panama.
Could you be more specific?
Yeah. Could you link to a site or post more detail in this.
Need to get my crypto gains without tax man getting shit
God I hated that season finale.
>Need to get my crypto gains without tax man getting shit
That's the opposite of money laundering.
In what way?
>(automated, with many accounts, Tor, VPNs, save the logs)
Why?
You have to simulate many individual gamblers to appear legit. A casino with just 1 gambler would be highly suspicious.
Ideally your casino is actually used by legit gamblers.
I suspect half the dice sites are actually money laundering operations.
>You have to simulate many individual gamblers to appear legit
Yeah, I understand, but how? How can that be automated?
Custom software that manages crypto wallets, VPNs or proxies, e-mail accounts (to register with the casino), deposits and plays automatically
Any competent CompSci graduate can write that
Can't wait until you boomers fucking die. Been sucking on the Jew's cock your whole lives and you'll finally go to hell.
How about instead of turning crypto into Fiat, just use crypto to make transactions. I know a lot of people might not go for it at first, but it's the best way to do it. It's not illegal to transfer crypto between two entities, and you can get stuff for it. It avoids ALL taxes legally.
lol that's what the Russians and Trump thought. Probably could've gotten away with it too if Trump wasn't such a fucking moron.
lol not using Joinmarket to cover your tracks.
Enjoy getting fucked by the feds
Most big sites that accept crypto report it even more
How would that help?
If you own 21 BTC or more you'll be rich by about 2025 and you are going to want to buy a nice house, I know I do.
How do you buy a nice house unless you cash to fiat?
And once you cash out to fiat, they will tell you to prove the origins of the coins. If you mix them, you'll not be able to prove anything.
Which is why BTC is going 1+ million a coin.
But if you want a house, I dont see a way to scape (((them))) and I dont want to love on some shithole.
I want to get into Crypto but I want to make sure first that this does not happen to me. How to prevent this? And is this common? Please share stories.
I live in the Philippines, btw.
>He tried to cash out before the collapse.
What? You can print up a trade history on Bittrex, I'm sure you can do it on shitcoin sites like Yobit too.
Anyways, as long as you pay your taxes, they can't jail you for shit. They have literally 0 evidence to pin you to a crime even without a trading log.
Just take the max amount to Mexico and exchange it for Pesos.
But the bank will not accept you as a customer if you have 5/6/7 figure sums coming in from crypto currency selling
Why not? It's legal to buy and sell crypto and wire profits from Coinbase or whatever to your account.
Yeah Coinbase is pretty legit now I doubt you will run into any trouble. Never did anything personally cause I only lose money on crytpo and I know how kikes are so I'm not saying it isn't possible, but I think you should be O.K. if you are using a major service like Coinbase. They are federally insured and everything.
Casinos, cash businesses, and smurfing all still exist. Therefore, money laundering still exists.
Also, there are btc gambling sites like Nitrogen.
Search on google about the kid that deposited 40 euros to his Barclays account.