Move money between bank accounts to secure funds from third parties

[Mike Forman]

How do some people move their money between bank accounts (corporate and personal) of different jurisdictions to secure their money, and make it almost impossible for authorities to claim that money if they believe is theirs.

If it was possible to travel with large sums of cash and deposit, this would be ofcourse the best way, and maybe it is for those that can afford private flights, but traveling with large sums is a risk and normally banks don't accept large over the counter cash deposits.

Transfer the money between different accounts in different jurisdictions seems the only option, but this might also risk being flagged by the bank.

Assume that nobody knows those accounts where they store their funds, there is still a digital trail between the different banks and jurisdictions.

Crypto as well seems no option as it is complicated to get the crypto amount paid out and to have it on a legit bank account and to be used for normal purchases or investments.

Having a corporation with nominee share holders and directors could be a solution to break the link of personal or owned corporations but its difficult to open a bank account in this case and the ubo is still know

The jurisdictions in mind with personal and/or corporate bank accounts are Hong Kong, Singapore, Philippines, UAE.

 

[clemens]

I believe it is almost impossible to protect your electronic money from be seized by governments if they are out for you.

 

[JohnnyDoe]

Crypto is not complicated at all

 

[Mike Forman]

The images and theory sounds easy but in practice?

If the origin is in Hong Kong and destination in Singapore, both with a reputable high street bank.

Transferring the money out should be not much of a problem but how would you receive a 6 figure amount on a DBS or HSBC account coming from crypto? And use that money also as investment in a legit corporate business (which will require its legit source) ? Even this is easy (which I still doubt) and you can proof this comes from a personal Hong Kong account, questions will be asked why buy and sell crypto, if they even allow crypto. Reading from all the posts in here there aren't many banks that accept crypto funds. Also we don't want to burn our accounts which are legit and not that easy to open anymore in Hong Kong.

 

[Mike Forman]

Let's assume money is transferred from Europe to a corporate account in Hong Kong. This Hong Kong company lend the money to another corporate account in Hong Kong which has another director and shareholder.
The loan is paid back later to your personal account in Hong Kong with local residence.

From there the money is transferred to an IBKR account on your name with residence in another non CRS country and from there partially invested. The returns and part of the investment is then withdrawn to your account in another jurisdiction again without any CRS exchange. From there the money is lend to another corporation in again another jurisdiction. The loan then will be paid back to your personal account in another jurisdiction, again without CRS.

Unless you have commit serious crimes this should add the necessary protection to safeguard personal funds from authorities trying to claim taxes (correctly or incorrectly which is not part of this discussion) or third party claims.

Figures such as J Low, G Cotton, J Marsalek all stay out of hands from the authorities and went into hiding. For sure they have secured part of their assets and money even they are on the most wanted lists in the world.

This topic is not to discuss about their criminal offences nor even promote anyone to do anything unlawfully as personally hiding the rest of your life because of some serious financial crimes is far worse than enjoying life with a modest income.