risks p2p transfers?

[lonizzita]

Hi
Sorry for this beginner question.

I would like to exchange USDT for cash, I was thinking of using some p2p service with EURO transfer to my bank and then withdraw at ATM, I have no experience with this.

could the bank ask for explanations if they see transfers coming to my private account?
how do you justify transfers from people to bank private accounts?

Thank you all

 

[MiddleEuroAsia]

Then Do it P2P/OTC.
Yes, and if not now, they will⁤ probably ask later.
by having a good SOF, and if your banks are not⁢ Crypto friendly, then make sure to have a good SOF that doesn't mention anything about︀ crypto. this can be anything from notarized documents/invoices to loan agreements...etc.
you are welcome, and if you want me to explain in︂ detail (I do this for my self and others) PM me, as this is all︃ I can say in the public forum

 

[BalnearioCamboriu]

No. No forgivness to you.‌

 

[lonizzita]

yes I am interested, I cannot write to you private
please write me in pm
thanks

 

[meze99]

Dear MiddleEuroAsia, please send me a PM if you have a solution/idea with a high‌ quality SoF for crypto->fiat (OTC/p2p wire transfer) that will be accepted by an EMI/bank/IBKR.

 

[Wellington]

I've never⁣ done a P2P which included Fiat, for the simple reason, i've heard and seen stories⁢ of people being arrested for money laundering as the funds came from a crime, or︀ i've seen people arrested for 'claims of fraud', and had their banks drained, frozen or︁ other.

For me, the fiat aspect unless its cold hard cash exchanged in the bank︂ in front of the bank teller where the bank teller confirms its real, not from︃ a crime or other I would not touch.

I remember in 2017 a Italian firm︄ wanting to exchange 3m Euro Cash for 2,000 ETH in the crypto space, but they︅ were a front for Russian money invested in real estate in Rome - you have︆ to be so bloody careful.

OTC on the other hand - should be safe to︇ go !