Hi guys, I am new here so please pardon me if I loose something in the below lines or if these words would not be in the right place to be discussed. In case my reasoning is inappropriate for this forum feel free to move or remove my message and if possible please advise if we do have a better place on this platform to talk about the below. In case this is the right place I'll be happy to reply to all your questions.
I understand that in 2023 anonymous funds and IBAN/EMI/Bank are not even thinkable due to CRS rules and mandatory identity verification in place whenever anyone look for an IBAN, regardless of the jurisdiction or the money institution potentially capable to provide the account number.
After documenting myself, I noticed that the only way to achieve anonymity and thus conceal the UBO is to look for darks and especially IDs like passport, driving licenses, or other form of national unique identity verification documents. These fake identities disguise completely the real person operating the account and if the identity donor is appropriately chosen from a territorial tax jurisdiction this also eliminates the triggering of CFC rules, thus avoiding any surprising fiscal involvement of the identity donor that could not like it, that could pretend some form of compensation, or worse could shut down the account concealing the UBO with her/his PII, being the legitimate owner.
Nevertheless, even if temporary successful, this practice would expose by design the real account operator to the risk that once she/he (the real UBO) gets the account verified, and thus the account operator is in control of an IBAN useful to send and receive fiat, the account operator (the real UBO) could inadvertently trigger some further controls with her/his regular account usage that she/he (the real UBO) could not cope with not being able to follow up in case of a live control, a selfie with her/his passport to cite a usual one. Unless She/he (the real UBO) can ask the identity donor to follow up with the verification in her/his place, but this looks to be pretty hard.
Hence, not evidently being the identity donor of the account, the one that actually sends and receives funds would be unable to follow up with a further verification step required by the entity providing her/him with the account hosting the IBAN, unless she/he (the real UBO) can cope with the further verification required. But this is a paradox not being she/he (the real UBO) the real identity bond to the account or not being able to find a substitute for this activity that she/he (the real UBO) would accomplish for the compliance requirements asked by the institution providing the IBAN. I believe that the above is one of the reasons of the short lifespan of accounts created with darks, hence not useful in the long run.
That said I pose the question:
Would not be a way to avoid the above paradox to purchase a fake passport from a territorial tax jurisdiction forged with her/his (the UBO) real photo, instead of the one of the identity donor, to conceal the data but not the human running the identification? Then, on top and along with that, if required, wouldn't she/he (the real UBO) be also able to forge independently and on demand other documents like the utility bills ?
In this manner she/he (the real UBO) would be always ready for a selfie or any other form of live verification that are performed by any respectable monetary institution not requesting her/him (the real UBO) to take a walk to the branch of the institution willing to provide her/him (the real UBO) with an IBAN.
In addition in case of a company formation she/he (the real UBO) could be easily the shareholder or company's director in plain sight, until this is all carried out remotely, does not result suspicious and it are not involved criminal activities.
I'd like also to provide a bit of context otherwise the message would be incomplete and easily misunderstood.
Source of funds: IT Consultancy for multiple big firms
Rational of the idea: impossibility to be UBO of anything by curren contract of employment and impossibility, always by current contract of employment, to offer, even pro bono, any service to anyone other than the current employer of the employee that gets forced to resort concealing her/his identity to start a side independent activity.
Controls in place: The employer can check if the employee is running a business in her/his name or she/he posses company's shares because the employer is the withholding tax agent of the employee and his unique source of funds by contract.
Location: The country of fiscal residency (Italy) of he employee enforces CFC rules and hence when the employer calculates the taxes for the employee discovers easily the parallel activity of the employee.
I would really appreciate your opinions on the feasibility of the above reasoning and understand what would prevent the feasibility along with risks subtended. Alternatively, I would happily welcome any other possibility that you see other than changing employer.
In case you have information non to be disclosed publicly, please feel free to pm me.
Thanks
I understand that in 2023 anonymous funds and IBAN/EMI/Bank are not even thinkable due to CRS rules and mandatory identity verification in place whenever anyone look for an IBAN, regardless of the jurisdiction or the money institution potentially capable to provide the account number.
After documenting myself, I noticed that the only way to achieve anonymity and thus conceal the UBO is to look for darks and especially IDs like passport, driving licenses, or other form of national unique identity verification documents. These fake identities disguise completely the real person operating the account and if the identity donor is appropriately chosen from a territorial tax jurisdiction this also eliminates the triggering of CFC rules, thus avoiding any surprising fiscal involvement of the identity donor that could not like it, that could pretend some form of compensation, or worse could shut down the account concealing the UBO with her/his PII, being the legitimate owner.
Nevertheless, even if temporary successful, this practice would expose by design the real account operator to the risk that once she/he (the real UBO) gets the account verified, and thus the account operator is in control of an IBAN useful to send and receive fiat, the account operator (the real UBO) could inadvertently trigger some further controls with her/his regular account usage that she/he (the real UBO) could not cope with not being able to follow up in case of a live control, a selfie with her/his passport to cite a usual one. Unless She/he (the real UBO) can ask the identity donor to follow up with the verification in her/his place, but this looks to be pretty hard.
Hence, not evidently being the identity donor of the account, the one that actually sends and receives funds would be unable to follow up with a further verification step required by the entity providing her/him with the account hosting the IBAN, unless she/he (the real UBO) can cope with the further verification required. But this is a paradox not being she/he (the real UBO) the real identity bond to the account or not being able to find a substitute for this activity that she/he (the real UBO) would accomplish for the compliance requirements asked by the institution providing the IBAN. I believe that the above is one of the reasons of the short lifespan of accounts created with darks, hence not useful in the long run.
That said I pose the question:
Would not be a way to avoid the above paradox to purchase a fake passport from a territorial tax jurisdiction forged with her/his (the UBO) real photo, instead of the one of the identity donor, to conceal the data but not the human running the identification? Then, on top and along with that, if required, wouldn't she/he (the real UBO) be also able to forge independently and on demand other documents like the utility bills ?
In this manner she/he (the real UBO) would be always ready for a selfie or any other form of live verification that are performed by any respectable monetary institution not requesting her/him (the real UBO) to take a walk to the branch of the institution willing to provide her/him (the real UBO) with an IBAN.
In addition in case of a company formation she/he (the real UBO) could be easily the shareholder or company's director in plain sight, until this is all carried out remotely, does not result suspicious and it are not involved criminal activities.
I'd like also to provide a bit of context otherwise the message would be incomplete and easily misunderstood.
Source of funds: IT Consultancy for multiple big firms
Rational of the idea: impossibility to be UBO of anything by curren contract of employment and impossibility, always by current contract of employment, to offer, even pro bono, any service to anyone other than the current employer of the employee that gets forced to resort concealing her/his identity to start a side independent activity.
Controls in place: The employer can check if the employee is running a business in her/his name or she/he posses company's shares because the employer is the withholding tax agent of the employee and his unique source of funds by contract.
Location: The country of fiscal residency (Italy) of he employee enforces CFC rules and hence when the employer calculates the taxes for the employee discovers easily the parallel activity of the employee.
I would really appreciate your opinions on the feasibility of the above reasoning and understand what would prevent the feasibility along with risks subtended. Alternatively, I would happily welcome any other possibility that you see other than changing employer.
In case you have information non to be disclosed publicly, please feel free to pm me.
Thanks
