Laundering 40 million quid

[marty]

how would ya do it? it's a lot of cash that can only be spent in an small country. i know some of them have been caught, but lots of the cash is still outstanding.

[marty]

aaargh double post. hate it when it does that.

[Sniper]

Give it to any female. They are good like that.

[SPORK]

Lots and lots of Cayman Island accounts?

[Hitcher]

Cash is bugger all use in large amounts. The best way of laundering this much cash is to do a deal with underworld gangs (in itself problematic). Get them to deposit dosh in your account at the rate of 30p in the Pound and let them take the risks.

Anybody wanting to spend large amounts of cash will immediately attract suspicion. A "trigger" could be cash purchases in excess of $10,000. And if you had $40 million to spend, that's over 4,000 transactions. So you can't buy a new car or a house. I don't know what bank's use as a trigger for large cash deposits, presumably a lesser sum

[burn-out gurl]

it's alot of money,
but just think how much fun you
could have spending it all:yeah:

[Wolf]

Simple: wander into 4 million shops and tender a ten-quid note for a 50-pence bar of chocolate...

[Grahameeboy]

Buy big sailing boats/ cruise launches.....................as far as I know they are not registered.....tis true

[Hitcher]

Buy big sailing boats/ cruise launches... far as I know they are not registered
Yes, they are "registered", but that's not the issue -- you're still likely to attract attention from the authorities if you tried to pay for one with cash.

[Grahameeboy]

Yes, they are "registered", but that's not the issue -- you're still likely to attract attention from the authorities if you tried to pay for one with cash.

Are you sure.......I went on a Money Laundering lecture and was told otherwise....and that this was a common route for money laundering.......maybe it was yachts.....or it has change...either way not gonna argue...:calm:

[Ixion]

I imagine it depends where you are and who you deal with. Thing is , the buyer is going to have the same problem disposing of the big pile of notes you gave him. When the authorities grill him, he's going to tell them the tale, so you better have that boat well away by then. Repaint, change name, sail to some far off place, and resell.

EDIT: I iamgine whoever pulled the heist will have contacts in the casino industry. LOTS of cash money goes through Macau, let alone Las Vegas.

[Finn]

Easy. Buy an Italian suit, rent an Aston Martin and a couple of girls and go to the Casino Monte Carlo. Give them your cash and open an account. Stay in Hotel De Paris (next door) over night and spend up big time. Make sure you loose about a mil and then check out the next day. Just ask for your balance to be paid back in the form of a cheque. Bingo.

[Grahameeboy]

I imagine it depends where you are and who you deal with. Thing is , the buyer is going to have the same problem disposing of the big pile of notes you gave him. When the authorities grill him, he's going to tell them the tale, so you better have that boat well away by then. Repaint, change name, sail to some far off place, and resell.

Yep that is what I meant.....I was told that the name did not have to be registered so could be changed at will etc.....who knows.....we will never get the chance anyway eh?

[placidfemme]

open a swiss bank account... no name... no contact details.... no tax...

[Hitcher]

open a swiss bank account... no name... no contact details.... no tax...
Some problems here too. Like crossing international frontiers in the possession of large amounts of cash (most countries, including Switzerland have significant penalties applying to this); and having to put it all in safe-deposit boxes in Switzerland. It would be so much more convenient to have it in a call account at your local High Street bank...

[Finn]

open a swiss bank account... no name... no contact details.... no tax...

Not quite. Times have changed...

The fight against money laundering is a priority for Switzerland. The Swiss authorities have been actively involved in the fight against money laundering for a number of years now, with the full support of the Swiss banks. In reality, it is not at all in the Swiss banks' interest to accept criminal funds: they do not need to take these kinds of risks to be profitable.

Switzerland has implemented preventive and repressive steps against money laundering in the form of modern and comprehensive tools that activate effective procedures both within the bank itself and on an international level.

If the bank has the slightest suspicion about a transaction, it is under obligation to inform the Federal Reporting Office for Money Laundering without delay.

A Swiss judge can order the lifting of bank secrecy at any moment and seize the unlawful holdings if there is proof that the account is a criminal matter according to Swiss law.

My idea is more exciting and has a certain Bond feel to it. And you can drive to Monaco from London.

[WRT]

Drugs. Lots and lots of drugs.

[marty]

10 grand a day at the casino would take more than 10 years to spend, and i think someone would be onto you by then. not to mention that 40 million quid would garner a pretty healthy interest amount (at least 6k a day...). spending it on big $$ legit stuff would actually be real hard. even though yachts aren't registered, SOMEONE is going to ask a question when the broker/agent turns up at their bank to deposit a million quid in folding. even depositing 10 grand a day (for 4000-odd days!) in a bank at isle of mann, or dubai, or some other tax haven, is going to get someone talking.

[placidfemme]

well all those bung ideas aside... they could always get into the crim business and become loan sharks...

[Hitcher]

What's with all this stuff about yachts not being registered? Basically if it floats, it requires registration under some marine law or other -- with the possible exception of lilos, sea kayaks and other "personal watercraft" (although many countries require Jetskis and their non-Kawasaki equivalents to be registered as well). Yes, there are "flags of convenience" that some owners of shipping use for exactly that purpose, particularly when they want to minimise their payroll and other forms of liability they may encounter if that vessel was locally registered, but those vessels are still "registered" and known to a variety of international monitoring agencies, including Lloyds.

[Ixion]

Only if you want to insure it, I think. And there are few checks on who you are or what the vessel is.

[WINJA]

If the bank has the slightest suspicion about a transaction, it is under obligation to inform the Federal Reporting Office for Money Laundering without delay.

.
WHAT ABOUT IF ITS JEWISH FILLINGS , IS THAT INTERESTING ENOGH

[Finn]

WHAT ABOUT IF ITS JEWISH FILLINGS , IS THAT INTERESTING ENOGH

Ah, the good old days of banking. Mentioning the Jews without cracking a joke must have been hard for you Eric. I know I'm struggling...

[WINJA]

Ah, the good old days of banking. Mentioning the Jews without cracking a joke must have been hard for you Eric. I know I'm struggling...
TELL ME ABOUT IT , I HAVE A JEWISH FRIEND AND I JUST CANT HELP IT , HEY DIRTY JEW OR OI YOU FAT JEW , IT NEVER ENDS , STILL IF IT UPSET HIM HE WOULDNT HAVE BEEN MY FRIEND FOR 15 YEARS

[WINJA]

btw , he calls me coco racer and stuff so its all fair

[Finn]

TELL ME ABOUT IT , I HAVE A JEWISH FRIEND AND I JUST CANT HELP IT , HEY DIRTY JEW OR OI YOU FAT JEW , IT NEVER ENDS , STILL IF IT UPSET HIM HE WOULDNT HAVE BEEN MY FRIEND FOR 15 YEARS

Watch him mate. He's up to something. I wouldn't trust him.

[myvice]

The fight against money laundering is a priority for Switzerland.

Switzerland has implemented preventive and repressive steps against money laundering.

My idea is more exciting and has a certain Bond feel to it. And you can drive to Monaco from London.
The Russian banks however, most which are owned by the Russian Mafia, don’t harbour such morals.

But the Bond thing sounds like the way to have a few laughs!
:2thumbsup :drinknsin