Challenge> Need to pay $1M without leaving trace

[Artemis Eleutheria]

Funds are 100% legit sitting in a bank account in a reputable jurisdiction.

Recipient want payment to be untraceable ... or as close to it as is possible.

Both parties want to minimize legal risks.

So how would you go about it?

 

[Joe Blasco]

Funds are 100% legit sitting in a bank account in a reputable jurisdiction.

Recipient want payment to be untraceable ... or as close to it as is possible.

Both parties want to minimize legal risks.

So how would you go about it?

take the money in cash ! I did , some years ago, it all fits in a briefcase, just like the movies...

 

[Sols]

Untraceable how? From who? In what direction? Do you want to move money from Person A to Person B with as little trace as possible?

Have Person B open a bank account in the same bank as Person A, and then do a transfer within the bank. At least that way, the transaction won't touch any external clearing system. Just make sure it's the same currency on both accounts.

There is nothing illegal about one person giving money to another, assuming it isn't payment for or from a crime. There may be tax implications, of course, depending on the precise circumstances.

 

[Clip]

If the transfer is legit, why need to hide traces? Buy 1m in a stablecoin and transfer to him in case you want some privacy

 

[Martin Everson]

Recipient want payment to be untraceable ... or as close to it as is possible.

Physical cash always. 1m in 1000 CHF notes fits nicely in your trouser pocket and will impress the girls . Exchange rate with USD is near 1 to 1 at present.

There is nothing illegal about one person giving money to another, assuming it isn't payment for or from a crime.

I don't think some banks got that memo sadly.

 

[Artemis Eleutheria]

Given a certain reluctance of banks in many jurisdictions when it comes to returning your money in the form of cash above what the hole in the wall provides .... that seems to reduce the number of jursidictions in which the operation might be carried out somewhat ... to put it mildly.

 

[Tax Cow]

A TX between local participants?

As insightful capitalists and a dude in kebab hoodie said, take out cash from the bank. When asked questions, say you want to keep some in a safe deposit box due to lack of trust in financial system, and enjoy life. The bank may propose to take it out in 4 installments of 250K - accept their compromise if they don't want to give that 1M in cash right then and there. Of course, you don't use the ATMs for those figures.

Things get a little complex when the recipient is abroad. Some of the cooler traceless solutions today are cash to foreign precious metals account swaps, but they require highly trusted connections. In high tax places like France, Canada, Germany, California, New York, Australia, you're bound to come across one of such guys who specializes in matching folks in need of domestic cash, and those looking to move funds out of the country untaxed.

 

[Artemis Eleutheria]

Not local participants ... that would be too easy.

Good point on the matchmakers. Also decent point on the virtues of patience.

 

[GrumpyMess]

The bank may propose to take it out in 4 installments of 250K - accept their compromise if they don't want to give that 1M in cash right then and there

I don't think any EU bank will give you even 250K, 1M seems fantastic in general

 

[Elitegold7]

Not local participants ... that would be too easy.

Good point on the matchmakers. Also decent point on the virtues of patience.

Is wiring to a 3rd Party Corporate Account an option? Are the funds in a Corporate account or an individual account? Willing to do some documentation to do the whole thing safely?

 

[Tax Cow]

I don't think any EU bank will give you even 250K, 1M seems fantastic in general

Think creative, be less grumpy

The best thing about a monetary union is that with relative ease, you can manage your banking affairs in a different country, for example, where the anti-cash sentiment is not yet as strong; if that's the aspect most important for you. Today, there are 7+2 countries in the EU where cash transactions in any amount are still legal. You may even find specific items on the bank's price/tariff list regarding cash transactions of 6-figure sums which is a pretty strong indicator you can withdraw those sums, if you have the money, if the bank has the notes, and if you wish to do so.

If you're harassed by baguette eaters in yellow vests, or wooden shoe fanatics who happen to love the orange color more than yellow, go to the hearth of the EU. You may even stumble upon Juncker participating in a bar triathlon. There are other, strategically located, cash hotspots for the Scandinavians, etc.

 

[Joe Blasco]

I don't think any EU bank will give you even 250K, 1M seems fantastic in general

they will, believe me. You just need to be bold about this and confident and it will take some days. The practicallity of the problem is that you need banknotes of high denomination for transport ease and new because if old, some would be destroyed and will not be accepted in other banks without a devaluation. In 1 mil thats some money. You also need money counter and UV to check what you got in the first place.

 

[Artemis Eleutheria]

Is wiring to a 3rd Party Corporate Account an option? Are the funds in a Corporate account or an individual account? Willing to do some documentation to do the whole thing safely?

Yes
Corp account
Yes ... the trail just have to go cold at some point before reaching recipient

 

[Martin Everson]

Most large retail banks in EU will give you 1m in cash. You just need to fill out forms, answer lots of AML questions and wait a week or more sometimes so they can order the banknotes. You also need to walk into a major branch not a local high street branch.

In my case however I went into a non-EU bank i.e Switzerland and withdrew over 2m CHF in cash due to negative (-0.75%) Swiss interest rates . No f*cking way am I paying 15,000 CHF each year just to cheap 2m CHF cash idle on an account while I wait to re-invest it. That means in 3 years I would loose 45,000 CHF...gtfo. Thats why I know 1m bundles fits in trouser pocket...at least in my cargo pants it did no problems.

 

[Artemis Eleutheria]

In my case however I went into a non-EU bank i.e Switzerland and withdrew over 2m CHF in cash due to negative (-0.75%) Swiss interest rates . No f*cking way am I paying 15,000 CHF each year just to cheap 2m CHF cash idle on an account while I wait to re-invest it. That means in 3 years I would loose 45,000 CHF...gtfo. Thats why I know 1m bundles fits in trouser pocket...at least in my cargo pants it did no problems.

Any paperwork issues in CH?

 

[Martin Everson]

Any paperwork issues in CH?

Yes plenty including senior management sign off etc etc . Plus some trying to convince me of dangers of cash, theft and finally even an offer to half the negative interest fee and reduce fees on re-investment costs on some already overpriced investment products....lol.

 

[Joe Blasco]

Yes plenty including senior management sign off etc etc . Plus some trying to convince me of dangers of cash, theft and finally even an offer to half the negative interest fee and reduce fees on re-investment costs on some already overpriced investment products....lol.

the catch 22 , is that you can withdraw the 1 mil , however in practical terms , if you run into some kind of check , border, traffic whatever and they discover this , albeit if you have transaction invoice to your name, you will be stopped. I don t know how Martin Everson took this out of the country, if he did, but you will need some creativity for the transport. For this you need the high figure bills and prefer dollars they are less bulky than Euro...

 

[Elitegold7]

Yes
Corp account
Yes ... the trail just have to go cold at some point before reaching recipient

Pls PM to me. This can be made to work.

 

[Clip]

Yes plenty including senior management sign off etc etc . Plus some trying to convince me of dangers of cash, theft and finally even an offer to half the negative interest fee and reduce fees on re-investment costs on some already overpriced investment products....lol.

Why just don't convert to USD ?

 

[Artemis Eleutheria]

Pls PM to me. This can be made to work.

Sorry ... looking for ideas not for service providers.