Can anybody explain "Deutsche Bank’s $10 billion scandal" in simple word using retail broker ? ( ‘mirror trading’ )

[troubled soul]

https://www.riskscreen.com/kyc360/a...-10-billion-scandal-mirror-trading-explained/
I spend hours and hours to understand the scheme involve here .
But I do not Get it . How they launder money ?

Let say I have Interactive broker Account in my home country under my name.
I want to transfer the Money to Offshore corporate account using Mirror Trading .
How to perform that ?

Like I buy Bluechip stock in Home country and Sell same on Offshore .

How to make sure that I lose on the Home country trade and win on the offshore.

I simply do not get it .

How can you make sure that you loose every time on home country trading account ?

Thanks

 

[avalanche]

https://www.riskscreen.com/kyc360/a...-10-billion-scandal-mirror-trading-explained/
I spend hours and hours to understand the scheme involve here .
But I do not Get it . How they launder money ?

Let say I have Interactive broker Account in my home country under my name.
I want to transfer the Money to Offshore corporate account using Mirror Trading .
How to perform that ?

Like I buy Bluechip stock in Home country and Sell same on Offshore .

How to make sure that I lose on the Home country trade and win on the offshore.

I simply do not get it .

How can you make sure that you loose every time on home country trading account ?

Thanks

For example spread is between 0.2 and 0.3.

Home: A
Offshore: B

B buys some shares at any price to create buffer, "trade body".
B sells "trade body" shares to A at 0.299.
A sells "trade body" shares back to B at 0.201.
B sells "trade body" shares to A at 0.299.
A sells "trade body" shares back to B at 0.201.

This way you are transferring funds from A to B by repeating these wash trades. It is only possible because of the existing spread. The bigger "trade body" is, the faster transfer will go.

This technique is very easy to spot.

 

[avalanche]

https://www.riskscreen.com/kyc360/a...-10-billion-scandal-mirror-trading-explained/
I spend hours and hours to understand the scheme involve here .
But I do not Get it . How they launder money ?

Let say I have Interactive broker Account in my home country under my name.
I want to transfer the Money to Offshore corporate account using Mirror Trading .
How to perform that ?

Like I buy Bluechip stock in Home country and Sell same on Offshore .

How to make sure that I lose on the Home country trade and win on the offshore.

I simply do not get it .

How can you make sure that you loose every time on home country trading account ?

Thanks

Its actually very useful technique, my contact managed to transfer his funds from KYC-locked crypto exchange account to another KYC compliant account within the same exchange lol.

 

[troubled soul]

If anyone want to transfer large amount using single Trade ,
Is it possible ?

How to do that ?

 

[avalanche]

If anyone want to transfer large amount using single Trade ,
Is it possible ?

How to do that ?

Single trade impossible, you need at least two trades + 1 preparation trade. The amount you can transfer depends on % of spread on selected market.