Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [money-laundering]

Money laundering is the act of concealing the transformation of profits from illegal activities into ostensibly "legitimate" assets.

38 questions
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5 answers

Is this person doing illegal money transfers?

This girl that I'm friends with and have actually seen in person before, keeps posting [on social media] that she "loves when the transfer goes through" and gets $2000-$6000 for free quite often. She said you can make up to $6500 a day. She is not…
Autumn Thompson
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5 answers

Why do Nigerian email scammers openly say they are from Nigeria?

I know that a significant part of Nigerian scammers are indeed working from Nigeria. A scam starts with exchanging messages. Physical contact is not to be expected. It is widely known that scammer often say they are from Nigeria, so often so that…
Volker Siegel
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82
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7 answers

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

An online company hired my friend as an account assistant. They told him they are a business consulting firm, and that they need an account assistant in every area. His job is the following: Some companies send money to my friend's account by…
ashif antor
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81
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12 answers

A friend asks me all the time to pick up money for her (Western Union, Moneygram)

A friend of mine trades Bitcoin and often asks me to pick up money for her, i.e., someone sends money to me (on my name) and I just pick it up and give it to my friend. The amounts are usually around $500. Is this legal? Can I get into trouble…
ApexAdam
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9 answers

I believe this to be fraud — hired, then asked to cash check and send cash as Bitcoin

I have been "hired" by Nissan Motor as a key account specialist. My first assignment is to cash two checks that I have received. Both were written by a customer who has already received the engines. The total is $2500. I am to cash the checks, get…
john balint
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41
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10 answers

Why do NFTs have value?

I've seen dozens of articles on NFTs, and not comprehended a single one. So when someone made an NFT of the first Twitter posting, I didn't understand how that would be a means to generate any sort of financial return. Even if the copyright on the…
Mike Serfas
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27
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8 answers

I am in a sugar daddy scam and he is threatening me because I want out. What do I do?

I have been involved in a sugar daddy relationship for a little while. He would send me money from Moneygram to Walmart from other people he was working with. I would then send most of the money to a bitcoin wallet. He asked me to make multiple bank…
Jennifer
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23
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7 answers

Is there any way to get money back from WhatsApp scammers?

Is there any way to get money back from money launderers? I joined a group on Whatsapp and they offered money for likes and follows on instagram. They then offer advanced tasks where you send them prepayment and they give you back commission. I…
shwjwododnwn
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3 answers

How to deal with a relative's hoarded cash without being accused of money laundering

An elderly relative has been hoarding cash for many years, due to a distrust of financial institutions. Whenever his (multiple) pensions have been paid in, he withdraws most of it in cash and stores it in envelopes in a safe. As a result, he now has…
Anonymous Worrier
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9
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2 answers

What is actually done in AML checks?

I've seen a couple of videos (1, 2, 3) that essentially explain what money laundering is and why it's important to prevent it. The keyword I stumble over a lot is AML - Anti Money Laundering. However, I could not find a single example that states…
Martin Thoma
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8
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3 answers

Is this money laundering?

Recently, while browsing for computer parts I don't need, I came across a 1050W power supply on Amazon listed for $50,000. I also used to have a screenshot (which I unfortunately can't find right now) of a really cheap looking off-brand pair of…
User41943
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8
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2 answers

A stranger from Norway wants to have money delivered to me

A man from Norway who says he's from Florida wants me to invest a suitcase full of money. I told him to send it to the local police department and I would pick it up there. Of course, he insists he will lose it if the Express Security company who is…
Cindi Bethel-Carmona
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3 answers

Is this a money laundering scam?

Seems shady. Here is what has happened so far: Job offer in newspaper: personal assistant, 10-15 hours per week, $500 per week. I took the job. Didn't have to fill out any W-2 forms or anything. Gave them my name, email, and mailing…
radicalmoney
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4
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2 answers

Question about plausibility of an iffy financial transaction in a crime novel

This is a question about a financial transaction in a novel. At the denouement of the book, An elderly, naive, innocent, middle-class couple who have been bilked by a loan racket run by extremely nasty people has $33,000,000 wired to their checking…
ab2
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4
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4 answers

Victim of being used as money mule. What should I do next?

Between June-July 2018, an Instagram page called 247cashouts messaged me on Instagram asking if I wanted to make some extra money. He told me the way it would work is; he collects money from businesses that are closing down. It seemed legit at the…
user80627
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