CashFlow0day
New Contributor
Regular Member
- Joined
- Feb 14, 2024
- Threads
- 10
- Post Replies
- 72
- Status
- away
- Last seen
correct me if i'm wrong, but any bank transaction 10k+ and wire transaction 5k+ must be registered/reported by the mediating banking agency. though one must avoid attempts at structuring (arranging payments in such a way as to subvert reporting requirements), as it doesn't take much to trigger this and, even when from legitimate transactions, can be a nightmare to recover funds once IRS gets involved and freezes the account(s).
usually the recommendation is a legitimate cash-based business (self-employment) or being employed and paid in cash as obvious ways to legitimize questionable funds - and again not likely to turn up red flags if deposits are well under 10k.
but here's another idea that i haven't been able to find a clear answer to.
does anyone know how this works for credit card accounts and investment accounts?
the ideas...
1_ if your cc company allows money order payments by mail, use questionable funds to pay off cc balances (this would also be a way to "manufacture spending", sort of, and accumulate reward points). be careful to limit money order transactions to 1k: Walmart, for example, requires name and ID for money orders over 1k.
2_if your investment broker will accept funds via money order, then ditto as (1).
3_really anything that can be funded/paid via money order that does not involve deposits or wire transactions (e.g., loans, utilities) could potentially be a way to disappear questionable funds.
...and even if reporting requirements are in place and same for both (cc and brokerage account), seems to me that sticking to money order transactions 1k and less are unlikely to raise red flags (unless you're sending several money orders several times a week every week, or something crazy like that, which would raise suspicion even before triggering structuring charges).
if the above just sounds like a bad idea (please correct or elaborate in comments below), an alternative...
4_ just spend the cash (wisely!), then vault whatever is left with goal of seeking real estate properties where owner is willing to take cash and quitclaim-deed (gift) the property to you or to accept cash in a rent-to-own agreement. questionable funds that were eroding through currency inflation are turned into investment capital/asset that is building equity, and perhaps even earning rent. obviously, now we're talking long-term goals (unless you've got it like that on the streets, mr/mrs big stuff).
everything said thus far is for cash transactions. i imagine funds coming in electronically (DNM vendor) would need a way to turn cryptocurrency to cash (f2f cash-for-crypto trade i imagine is one way) before ideas 1-4 apply.
usually the recommendation is a legitimate cash-based business (self-employment) or being employed and paid in cash as obvious ways to legitimize questionable funds - and again not likely to turn up red flags if deposits are well under 10k.
but here's another idea that i haven't been able to find a clear answer to.
does anyone know how this works for credit card accounts and investment accounts?
the ideas...
1_ if your cc company allows money order payments by mail, use questionable funds to pay off cc balances (this would also be a way to "manufacture spending", sort of, and accumulate reward points). be careful to limit money order transactions to 1k: Walmart, for example, requires name and ID for money orders over 1k.
2_if your investment broker will accept funds via money order, then ditto as (1).
3_really anything that can be funded/paid via money order that does not involve deposits or wire transactions (e.g., loans, utilities) could potentially be a way to disappear questionable funds.
...and even if reporting requirements are in place and same for both (cc and brokerage account), seems to me that sticking to money order transactions 1k and less are unlikely to raise red flags (unless you're sending several money orders several times a week every week, or something crazy like that, which would raise suspicion even before triggering structuring charges).
if the above just sounds like a bad idea (please correct or elaborate in comments below), an alternative...
4_ just spend the cash (wisely!), then vault whatever is left with goal of seeking real estate properties where owner is willing to take cash and quitclaim-deed (gift) the property to you or to accept cash in a rent-to-own agreement. questionable funds that were eroding through currency inflation are turned into investment capital/asset that is building equity, and perhaps even earning rent. obviously, now we're talking long-term goals (unless you've got it like that on the streets, mr/mrs big stuff).
everything said thus far is for cash transactions. i imagine funds coming in electronically (DNM vendor) would need a way to turn cryptocurrency to cash (f2f cash-for-crypto trade i imagine is one way) before ideas 1-4 apply.
