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Questions tagged [money-laundering]

Disguising the illegal source of money.

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Is this laundering money?

Arnie is a registered entrepreneur who sells raw wood. He was contacted by Bob. Bob works in a state organization (not private), and was tasked with building several garages on one of the streets of a city. Bob was given a budget, and needs to buy…
John Doe
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Is it tax fraud for an individual to declare non-taxable revenue as taxable income? (US tax laws)

Hypothetically, A wants to pay B a considerable amount of money. In order to reduce the paper trail, A pays me the money and I transfer it to B. To further obscure the paper trail, I declare the payment from A as income for work (non-existent) done…
DJohnM
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When does it become illegal to exchange bitcoin for cash?

I've read several "stings" and raids for running unlicensed money transfer businesses for people buying and selling bitcoin on localbitcoins. All of the articles are extremely vague and don't explain exactly when it becomes illegal. Is there any…
user5389726598465
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Are charities prevented from paying money to other charities?

I was recently a participant in a group study, in which there was an option for participants to donate the gratuity offered to a charity. However, I received a message from a researcher today saying that this is not possible: Earlier this year, you…
bertieb
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Is it possible for an individual to commit money laundering like a bank?

In the classic example of money laundering, Charlie the Criminal would take his dirty money to Bob the Banker and get it in some form that is spendable and transferable. In this situation it would be expected that Charlie would know it is dirty…
Sam
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On the legality of replacing international transfers with intranational ones

Here is a fictional story based on this question. Andrey is a Russian programmer residing in Germany who makes regular wire transfers to his father, Boris, who resides in Russia. Chris & Dasha, a married couple, also reside in Germany. Dasha is…
Rodrigo de Azevedo
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Can you keep legitimate income from money laundering?

Say, you own a convenience store for the purposes of laundering the proceeds of a drug enterprise. For the sake of appearance, your store is a real, functioning business that generates a legitimate income. One day, it all goes wrong: you're arrested…
Ethan
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Borrowing from a relative or friend without documentary evidence — is it money laundering?

Suppose a person borrows money from a relative or friend, say, 10 million USD, without documentary evidence — the transaction is purely based on trust and cultural norms. If the borrower invests the money in real estate and after 5 years returns…
mykey
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Making bad movies as money laundering scheme?

There is this youtube channel called I Hate Everything in which, among other things, this youtuber reviews Imdb's 100 lowest ranked movies in search for the worst movie: https://www.youtube.com/playlist?list=PLxOKy-G3phBomkGrPJuQwUawQmS_1ysNN In one…
Segmentation fault
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In the UK, is it money laundering to steal a hat and wear it?

An online anti-money-laundering training course, mandatory for new staff at my institution, offers a hypothetical scenario: How about this shoplifter who’s simply wearing a hat that she’s stolen. She hasn’t sold the hat, or given it to anyone…
kaya3
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When would it be legal to ask back (parts of) the salary?

Based on this question, where the OP was asked to pay back parts of his salary in cash: I have a hard time imagining any legal reason why an employer could ask back parts of already payed salaries. Maybe if he accidentaly payed too much, or if he…
PMF
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Charities in the US and money laundering

What regulations apply to charities regarding money laundering? Do they have any equivalent to 'know your client', like 'know your donor'? Do they have a duty to report suspicious transactions? Are they forced to have their accounts audited?
Quora Feans
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Cash deposits and money laundering in the UK

In the United Kingdom (UK), the Financial Conduct Authority (FCA) requires that banks have "adequate policies and procedures sufficient to counter the risk that they might be used to further financial crime". There is no specific limit on cash…
Badalyan
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How does the Bank Secrecy Act affect normal law-abiding citizens?

The Bank Secrecy Act of 1970 was designed to detect money laundering by organized criminals. Among other things, it requires banks to report large currency transactions in excess of $10,000 to the Justice Department. In 1970, $10,000 was a lot of…
Wes Sayeed
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Why can Dutch police order Binance to freeze funds of Colombian customers?

In short, Dutch police ordered Binance (cryptocurrency exchange) to freeze funds of some Colombian customers, and those customers are supposed to prove - to the satisfaction of Dutch police - that their funds were legally obtained. This is related…
xmrk
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