international wire

[donald bathe]

if someone is wiring money from a regular commercial bank lets say from argentina to the united states in small amounts, how would law enforcement start to investigate why these wires are coming in from an american citizen residing abroad? if an american citizen lives abroad and send remittances or money from abroad in small amounts less than 10k at a time, how or why would law enforcement look into this money or bank account if its in wells fargo, chase, citibank, or bank of america???? just regular commercial banking of course and nothing offshore of course........ can someone please tell me. thank you.

 

[Joey32]

That's a good question, and it's one I've been thinking about myself.

But think about this - if you are continuously making transfers from an offshore bank just under 10k each time, that will likely put on high alert fairly quickly.

Here are three anti-money laundering red flags you would be committing all at the same time in this scenario:

• Frequent wire transfers with no apparent business reason;
  
• High volume of wire transfers with low account balances;
  
• Incoming and outgoing wires in similar dollar amounts.

They are basically al the same thing: structuring. Read up on it. Not only that, but you have also alerted the authorities to the existence of an offshore bank account (ie. in Argentina). Why would you want to do that? There is no upside.

I'm not necessarily saying you can't or shouldn't do this, merely that it will probably look very suspicious after a little while. Personally I would approach this in a more clever fashion.

Hope that helps!

 

[donald bathe]

Joey32 said:
That's a good question, and it's one I've been thinking about myself.

But think about this - if you are continuously making transfers from an offshore bank just under 10k each time, that will likely put on high alert fairly quickly.

Here are three anti-money laundering red flags you would be committing all at the same time in this scenario:

• Frequent wire transfers with no apparent business reason;
  
• High volume of wire transfers with low account balances;
  
• Incoming and outgoing wires in similar dollar amounts.

They are basically al the same thing: structuring. Read up on it. Not only that, but you have also alerted the authorities to the existence of an offshore bank account (ie. in Argentina). Why would you want to do that? There is no upside.

I'm not necessarily saying you can't or shouldn't do this, merely that it will probably look very suspicious after a little while. Personally I would approach this in a more clever fashion.

Hope that helps!
Click to expand...

what do you mean a more clever fashion? are you trying to tell me that within the united states all cryptocurrencies in some way are tracked???????? rsvp.

 

[moneymaster]

Joey32 said:
That's a good question, and it's one I've been thinking about myself.

But think about this - if you are continuously making transfers from an offshore bank just under 10k each time, that will likely put on high alert fairly quickly.

Here are three anti-money laundering red flags you would be committing all at the same time in this scenario:

• Frequent wire transfers with no apparent business reason;
  
• High volume of wire transfers with low account balances;
  
• Incoming and outgoing wires in similar dollar amounts.

They are basically al the same thing: structuring. Read up on it. Not only that, but you have also alerted the authorities to the existence of an offshore bank account (ie. in Argentina). Why would you want to do that? There is no upside.

I'm not necessarily saying you can't or shouldn't do this, merely that it will probably look very suspicious after a little while. Personally I would approach this in a more clever fashion.

Hope that helps!
Click to expand...

you have a great point here. What would you say is the best way to transfer large sums if you want to keep the money offshore and out of the view of your tax office?