Suspicious Banking Activites ; freaking out!!!

[chilidog]

if you are dealing in 10ks go to Europe, preferably Switzerland where nobody will ever bother you even if you deposit 100k in one go. you can even tell them its gambling money, they don't give a s**t.

Yah, but there's a big problem with that. Americans have to declare if they're carrying over $10k with them. If we don't declare it, and they find out that we have it, then they can just take it from us (a penalty for basically trying to hide it from them).

[lyon804]

Slim.. if this what you have done thus far is the extent of your problems you will be just fine. Not saying nothing will come of this, but you haven't raped anyone,stolen,or killed anybody. Basically you are shooting par in life. As far as the cash goes... If you are going to continue to win I suggest you spread the money out between: Invest in a nice home safe, use several different safety deposit boxes at several different banks, have some cash casually hidden in your house.. Nothing wrong with making 3K envelopes and stuffing them in random locations in your home. It may be more trouble doing this, but always pay anything you can with cash even if you have to drive to buy it. I know you have bills just like anybody else but many of those can be paid without the use of a bank. It requires more work but can be done.

[Hareeba!]

Yah, but there's a big problem with that. Americans have to declare if they're carrying over $10k with them. If we don't declare it, and they find out that we have it, then they can just take it from us (a penalty for basically trying to hide it from them).

why so paranoid about declaring it?
if you've done no wrong what are you so afraid of?

[chilidog]

why so paranoid about declaring it?
if you've done no wrong what are you so afraid of?

Because if you're taking it overseas to hide it, then that kind of negates the entire purpose, since you have to declare it anyway.

[Hareeba!]

Because if you're taking it overseas to hide it, then that kind of negates the entire purpose, since you have to declare it anyway.

so as I said, nothing to fear if you are doing the right thing including paying taxes
no sympathy due otherwise

[chilidog]

so as I said, nothing to fear if you are doing the right thing including paying taxes
no sympathy due otherwise

What does that have to do with what the guy posted? He said to take it to Switzerland, where nobody will bother you for depositing $100k. Well, in order to get that money over there, you would have to declare it. Thus, it would be no different than just depositing it into a local bank.

[Hareeba!]

What does that have to do with what the guy posted? He said to take it to Switzerland, where nobody will bother you for depositing $100k. Well, in order to get that money over there, you would have to declare it. Thus, it would be no different than just depositing it into a local bank.

yes, and you shouldn't be bothered depositing it in a bank either
being reported for it is not a problem unless you have done something wrong
trying to hide it suggests wrongdoing doesn't it?

[chilidog]

yes, and you shouldn't be bothered depositing it in a bank either
being reported for it is not a problem unless you have done something wrong
trying to hide it suggests wrongdoing doesn't it?

But, you are doing something wrong. Gambling online is illegal for Americans. Where did that money come from? Illegal proceeds.

[Hareeba!]

But, you are doing something wrong. Gambling online is illegal for Americans. Where did that money come from? Illegal proceeds.

Fortunately I'm not American so wouldn't know that for sure. From posts I've read in this forum there appears to be a distinct lack of agreement on the legality of sports wagering there.

But my point remains valid. There should be no need to fear being reported if you haven't done anything wrong.

[Trucker George]

But, you are doing something wrong. Gambling online is illegal for Americans. Where did that money come from? Illegal proceeds.

Disagree. Except for a couple of states (Washington state, for example) there are no laws against A PLAYER making online wagers. On the other side of the counter -- that is, being a bookie -- yes, there's a bunch of nasty laws against it such as the "Wire Act", UIGEA, and whatever else law enforcement can get away with tacking on, usually something financial crimes related (money laundering, criminal enterprise, tax laws, etc, etc, etc). Whenever I get into a conversation with someone and they tell be placing bets as a player is illegal, I say "show me the law" and of course they cannot (with the exception of a Washington state, as previously mentioned).

[BChrisB]

Only if it's tied to criminal activity. The reporting and the flags mean nothing. They have to prove it's tied to criminal activity. There is no law (even under the UIGEA) that says you cannot collect gambling winnings. Remember that whole BetOnSports debacle? It was the DOJ themselves that wanted all the gamblers to be paid back. Now if it were illegal to get your winnings, do you really think the DOJ wanted BOS to pay everyone?

Here's one thing I never understood though, if your driving down the road and get pulled over and say the cop searches your car and finds 20k. They'll take that money and test it for drug residue and if test positive they confiscate it.

The problem with it is, ALL Circulated money had drug residue on it. Now here's one that really makes no sense.

[Mac4Lyfe]

Say I wish to collect 50k from a sportsbook. What would be the best way to do so:

1--a one time wire
2--10 monthly checks at 5k
3-- multiple **'s with fees up the wazzoo
4-- some other method?

Be very careful with ** and wired transactions. I have a buddy in the joint because he wired drug money via ** to his momma on several occasions. He wired like $75k at a time and the feds caught up to him and he couldn't explain how he got the money

Another friend won big money in a caribbean casino. He opened up a bank account and deposited the winfall there instead of bringing it back to the states, being subjected to taxes or trying to bring it in illegally and not declaring it. He has an ATM card that he can use in the US and take money out of that account whenever he wants.

I personally use to make huge deposits into multiple accounts. All legal and on the up and up. It used to take a couple of weeks for those deposits to clear but after having credibility with the banks and more money in the accounts than the deposits, it was no big deal depositing and cashing large amounts.

A lot of deposits were reported for the first year or so but I think they eased up after a while. I'm not sure but the banks may only have to report for a period of time. Someone else may be able to answer that?

[loyd]

Well, in order to get that money over there, you would have to declare it. Thus, it would be no different than just depositing it into a local bank.

he will not take it there in cash, he will withdraw it there using ** or **, you sure know when you withdraw using ** your bookie give you an MTCN number and you can go to any ** shop to take it.