Does Western Union Report to Tax authorities?

[banafinfodafuggiano]

Let's say I receive income in an offshore jurisdiction, with no CRS.

Then I buy some crypto online with this money, then I sell the cryptos and the seller sends me privately the money through Western Union or Money gram.
We are talking about 1000 dollars a week, not huge sums.

Will Western Union report to any authorities?

 

[Martin Everson]

Other than fraud of suspicious transactions I don't think they report to authorities. But perhaps‌ someone can correct me or knows a bit more about WU.

 

[Plavivoz]

Your problem is not the reporting.
AML is your problem. Belive me⁤ they will block the transfers to your name soon. I give you maximum 3 to⁣ 4 weeks doing this.

There are better ways for turning your crypto income into cash.⁢

 

[Sols]

The only other instance where WU would report is for high-value transactions (like‍ CTR, Currency Transaction Report, to FinCEN for transactions or collection of transactions exceeding 10,000 USD).⁠ This varies by jurisdiction sent from and sent to but for the amount mentioned (1,000⁤ USD/week), it's unlikely to trigger any such reports.

WU has a banking license but they⁣ practically never offer retail bank services to anyone. Their retail services are money remittance services,⁢ which are not in scope for CRS/AEOI.