How do you do it? | Bitcointalksearch.org

target

legendary

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Quote from: warwar on January 19, 2017, 07:38:11 AM

Quote from: iram3130 on January 19, 2017, 01:04:12 AM

Quote from: Fredomago on January 19, 2017, 12:35:28 AM

Quote from: target on January 19, 2017, 12:30:34 AM

If you have to launder, don't mix it with btc. a simpler method would be much better, not suspicious for anyone but will also depend to how much money you will be laundering. If you aim to do it forever, just mix you money to a legit business in your country so that it can come out clean. You won't have to hide anything after all it would appear you are going to pay taxes for it unless you don't wanna.

Well thats good suggestion placing your btc to any trusted investment inside your country those businesses that really have good name so you can withdraw your money without any problem here in my place we do allowed to withdraw up to 10btc without questions for money laundering.

He would have to pay some taxes, he can't evade everything. But yes, there are people who do that. Start a business and convert the money. Better not to mix it with Bitcoins. U can do that after converting it, but if you mix with Bitcoin and then try to convert, it will look fishy to the government.

Well as of now there is no tax in bitcoin! well i think start a business but with the help of bitcoin. I think i know your point if you convert or something get profit in your business with mix of bitcoin then you gain a ton of profit and convert it into money then the government will notice and it will cause something about money laundering

Bitcoin is always suspicious for any government and even for people who will later know you are using it. The people around us heard about bitcoin on TV and they already learned about it being used by criminals, blame the media for it but that's the truth. A lot of criminals and they said terrorist use btc. In order to avoid suspicions just be discreet.

BTC worth 100K USD can already raise a red flag, even less than that.

warwar

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Quote from: iram3130 on January 19, 2017, 01:04:12 AM

Quote from: Fredomago on January 19, 2017, 12:35:28 AM

Quote from: target on January 19, 2017, 12:30:34 AM

If you have to launder, don't mix it with btc. a simpler method would be much better, not suspicious for anyone but will also depend to how much money you will be laundering. If you aim to do it forever, just mix you money to a legit business in your country so that it can come out clean. You won't have to hide anything after all it would appear you are going to pay taxes for it unless you don't wanna.

Well thats good suggestion placing your btc to any trusted investment inside your country those businesses that really have good name so you can withdraw your money without any problem here in my place we do allowed to withdraw up to 10btc without questions for money laundering.

He would have to pay some taxes, he can't evade everything. But yes, there are people who do that. Start a business and convert the money. Better not to mix it with Bitcoins. U can do that after converting it, but if you mix with Bitcoin and then try to convert, it will look fishy to the government.

Well as of now there is no tax in bitcoin! well i think start a business but with the help of bitcoin. I think i know your point if you convert or something get profit in your business with mix of bitcoin then you gain a ton of profit and convert it into money then the government will notice and it will cause something about money laundering

jamyr

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Activity: 1764

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<------

Quote from: mummybtc on January 19, 2017, 12:17:02 AM

Quote from: jamyr on January 19, 2017, 12:09:06 AM

Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

*Okay let us put it this way, legally in my homeland, a person is innocent until proven guilty. (I do not need to prove you I'm right, its the one accusing that needs to prove I'm wrong).

How you do it?
I don't do it personally, but have encountered a scenario, way back in college about the best possible way to make money transfers privately. I believe this(see below) is just a workaround and a solution I presented to my Prof. but will not advise anybody to do it.

"Scenario : Mr. Nobody is wanting to be able to move P2,000,000 monthly to a Bank outside the Philippines." Think of the best way to do it without being suspected of laundering money."

*Create 100 savings account under 100 different names in 100 different addresses(not on main banks), 2m/100, First 14 Days, 50 accounts will deposit P2000 everyday Monday to Friday(50*2000)*10, the other 50 accounts will do it after the first half of the month.

Got an "F" grade with that. But I stand on this to be the best way to avoid preying eyes.

I don't think you way will work presently, if you create accounts in different names, who is going to be signatory to the account, if you are then you thumb print will link other accounts together and expose your activities. Unless you are trusting someone to do that for you, also if all the money is sent to thesame account, the receiver account maybe flagged and frozen.

So I deserve that F? haha.

anyways,
If you've heard of the anon bank accounts, and other smaller banks like GlobeBanko, I think that was the name, don't require much docs. And that is the reason why it will be a minimal fund transfer, if I remember it right, one time big time deposits are those that will get unwanted attention.

iram3130

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Quote from: Fredomago on January 19, 2017, 12:35:28 AM

Quote from: target on January 19, 2017, 12:30:34 AM

If you have to launder, don't mix it with btc. a simpler method would be much better, not suspicious for anyone but will also depend to how much money you will be laundering. If you aim to do it forever, just mix you money to a legit business in your country so that it can come out clean. You won't have to hide anything after all it would appear you are going to pay taxes for it unless you don't wanna.

Well thats good suggestion placing your btc to any trusted investment inside your country those businesses that really have good name so you can withdraw your money without any problem here in my place we do allowed to withdraw up to 10btc without questions for money laundering.

He would have to pay some taxes, he can't evade everything. But yes, there are people who do that. Start a business and convert the money. Better not to mix it with Bitcoins. U can do that after converting it, but if you mix with Bitcoin and then try to convert, it will look fishy to the government.

Fredomago

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Quote from: target on January 19, 2017, 12:30:34 AM

If you have to launder, don't mix it with btc. a simpler method would be much better, not suspicious for anyone but will also depend to how much money you will be laundering. If you aim to do it forever, just mix you money to a legit business in your country so that it can come out clean. You won't have to hide anything after all it would appear you are going to pay taxes for it unless you don't wanna.

Well thats good suggestion placing your btc to any trusted investment inside your country those businesses that really have good name so you can withdraw your money without any problem here in my place we do allowed to withdraw up to 10btc without questions for money laundering.

target

legendary

Activity: 2282

Merit: 1041

If you have to launder, don't mix it with btc. a simpler method would be much better, not suspicious for anyone but will also depend to how much money you will be laundering. If you aim to do it forever, just mix you money to a legit business in your country so that it can come out clean. You won't have to hide anything after all it would appear you are going to pay taxes for it unless you don't wanna.

mummybtc

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Activity: 868

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Quote from: jamyr on January 19, 2017, 12:09:06 AM

Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

*Okay let us put it this way, legally in my homeland, a person is innocent until proven guilty. (I do not need to prove you I'm right, its the one accusing that needs to prove I'm wrong).

How you do it?
I don't do it personally, but have encountered a scenario, way back in college about the best possible way to make money transfers privately. I believe this(see below) is just a workaround and a solution I presented to my Prof. but will not advise anybody to do it.

"Scenario : Mr. Nobody is wanting to be able to move P2,000,000 monthly to a Bank outside the Philippines." Think of the best way to do it without being suspected of laundering money."

*Create 100 savings account under 100 different names in 100 different addresses(not on main banks), 2m/100, First 14 Days, 50 accounts will deposit P2000 everyday Monday to Friday(50*2000)*10, the other 50 accounts will do it after the first half of the month.

Got an "F" grade with that. But I stand on this to be the best way to avoid preying eyes.

I don't think you way will work presently, if you create accounts in different names, who is going to be signatory to the account, if you are then you thumb print will link other accounts together and expose your activities. Unless you are trusting someone to do that for you, also if all the money is sent to thesame account, the receiver account maybe flagged and frozen.

jamyr

sr. member

Activity: 1764

Merit: 373

<------

Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

*Okay let us put it this way, legally in my homeland, a person is innocent until proven guilty. (I do not need to prove you I'm right, its the one accusing that needs to prove I'm wrong).

How you do it?
I don't do it personally, but have encountered a scenario, way back in college about the best possible way to make money transfers privately. I believe this(see below) is just a workaround and a solution I presented to my Prof. but will not advise anybody to do it.

"Scenario : Mr. Nobody is wanting to be able to move P2,000,000 monthly to a Bank outside the Philippines." Think of the best way to do it without being suspected of laundering money."

*Create 100 savings account under 100 different names in 100 different addresses(not on main banks), 2m/100, First 14 Days, 50 accounts will deposit P2000 everyday Monday to Friday(50*2000)*10, the other 50 accounts will do it after the first half of the month.

Got an "F" grade with that. But I stand on this to be the best way to avoid preying eyes.

ipanks

hero member

Activity: 1610

Merit: 507

Quote from: housebtc on January 18, 2017, 11:30:58 PM

I don't think this is an issue, all you need is to familiarize yourself with the financial laws guiding Money laundering, in my country anything above $5000 your account will be flagged. If you don't understand the laws you can even consult a financial adviser, he will shed more light on it and you will have your way around it.

i think in every country have limit to not investigate as money laundering and they will do if one account have more than $5000 or more and many transaction in every day. so if you only want to use under $5000 then i think you are safe, don't think too much with your money, unless you have billion dolar in your account and you do many transaction every day.

housebtc

sr. member

Activity: 588

Merit: 252

I don't think this is an issue, all you need is to familiarize yourself with the financial laws guiding Money laundering, in my country anything above $5000 your account will be flagged. If you don't understand the laws you can even consult a financial adviser, he will shed more light on it and you will have your way around it.

deadsilent

hero member

Activity: 1148

Merit: 500

Every country have different rules or laws. You should know that in the first place. Ofcourse they will accuse you from money laundering. Theres availlable local bitcoin wallet in your country. You should use that. Me, im using a local bitcoin wallet. And theres so many cash out options and ofcourse you can store it legally on your bank account. If theres none. Seek for legal advice.

ArdiPrabowo

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Activity: 644

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solution problem about money laundring regulation youre country
you can use bitcoin debitcard
is many open service bitcoin debitcard, advash, xapo, unichange.me, liquid and more
about review bitcoin debitcard you can find in bitcointalk thread

cryp24x

sr. member

Activity: 1190

Merit: 253

The suggestion of previous post are good enough to keep you away from the suspicion. But if you really are working and that bitcoin is from the your hardwork, why not declare it in your income tax. That way you are doing it legally and at the same time giving tax to your government. Just provide the details of your work and I think you will be ok.

SONG GEET

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Activity: 700

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Money laundaring is restricted in almost every country so your country is not only one. You can sell bitcoin for hard cash with local guys over localbitcoins or you can use unverified bitcoin debit card to withdraw small amount like $2k per card, use multiple bitcoin debit card providers.
Even if you use those debit cards, those debit card provider can give detail to your government in case of investigation. But just for 4-5BTC per month, i don't think your government will take any interest in your bank account.

jcojci

full member

Activity: 784

Merit: 115

Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

i think you need to know local merchant which is selling and buying bitcoin as they can help you to solve your problem. with that amount, i think there is many people from your country that have more than that amount and they want to help you. my suggestion is you need to make selection for the merchant because you are going to make big transaction with 4-5 btc.

kidoseagle0312

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Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

I think you need to use credit card with your problem, though in every country they have their own policy in money laundering. So much better for us to follow the laws of our country regarding to this matter.

bitllionaire

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Quote from: robelneo on January 16, 2017, 09:52:54 AM

Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

First You should check the country you are in their rules and laws governing the money laundering and check if the amount that you are receiving or sending all gross,falls into money laundering,every country has a threshold on that..

yes that is right every country has their own rules and regulation, as in my country if you are sending money to some where else out side the country then you have to pay tax on it and only then you can sent your money from the country other wise it is illegal and is falls into money laundering.

robelneo

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Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

First You should check the country you are in their rules and laws governing the money laundering and check if the amount that you are receiving or sending all gross,falls into money laundering,every country has a threshold on that..

Kasabus

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Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

There would be no problem with that dude, don't worry. They will not suspect you if you have a job and you can convince them that you are making money from it. Trading is not an illegal activities and hence you are not laundering your money.

In our country, there's only what you called as covered transactions and it's a single transaction with at least $10,000 but it's nothing serious if it's just a covered transaction. Laws from different countries differs, so I guess it would be helpful to you if you make your own research, it's hard to mess up with the law if you have a limited learning only but as far as what you have mentioned, you will be fine.

Zadicar

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Quote from: tigerwood0432 on January 16, 2017, 08:47:16 AM

Quote from: Chevas Regal on January 06, 2017, 01:29:57 PM

I am quite struck on the uncertain regulation of the land where i was born. The government has no clear Instance on the use of bitcoin. The country Opposes Money Laundering , i am ok with it but if a huge rush comes to your Bank in form of currency and that too from exchange of Bitcoin then it could lead to suspection of Money laundering.

Suppose i am from Other country say Thailand and i need to transfer a huge sum into some bank account in other country then how could i do it. Monthly salary in 42,701 Thai Baht. And i would like to transfer 4-5BTC every month(which i get from trading) to my home country bank.

Use a Bitcoin debit Card and withdraw from ATM machine = totally anonymous

ATM BITCOIN DEBIT CARD :(keep invite code you will get 25% discount)

https://cryptopay.me/join/6b41ffbf

This would be the best suggestion for me since you want to avoid those regulation by your government in your country then its better to use this card and besides you could able to transfer and get funds as long as you want without being traced.Try to use bitcoin debit card it would be useful for you.

Topic: How do you do it? (Read 1013 times)