Preventing bank from being drained...Digital Nomad

[troubled soul]

I heard the story of Digital nomad who almost got drugged and robbed in developing country.....

I did research and apparently there is a drug called scopolamine that removes your free will and robbers can tell you to drain your bank account and you’ll do it. Is it true ? Anyone have experience it ? or just Fake story......

What I want to know is there a way to make money less liquid so if I were to try to drain my bank account I wouldn’t have access to the money for about a week or two?
What are the best way to preventing your bank account being drained as Digital nomad ?

Thanks

 

[backpacker]

I heard the story of Digital nomad who almost got drugged and robbed in developing country.....

I did research and apparently there is a drug called scopolamine that removes your free will and robbers can tell you to drain your bank account and you’ll do it. Is it true ? Anyone have experience it ? or just Fake story......

What I want to know is there a way to make money less liquid so if I were to try to drain my bank account I wouldn’t have access to the money for about a week or two?
What are the best way to preventing your bank account being drained as Digital nomad ?

Thanks

Put your money in a term deposit.
If you are scared that -in theory- a term deposit/CD can be "broken" (even though a brick & mortar bank will require physical presenceif you do that), put your money in a fiduciary deposit. The latter can not be terminated during its term.
The above is the easiest way to protect your account.

In general it is advisable to refrain from dealing with "online only" banks when you want to protect your bank account.
Find a mix where physical presence is required when it comes to breaking CD's or large transfers.
Moreover, agree with the bank on a maximum transfer limit per month and put a strict limit on any debit card. Do not use credit cards. Only have very small amounts on your current account (max. one-month spending).

Regarding the drug: It is dangerous but it will not rob your free will. Do not fall for the horror stories of a zombie drug the mainstream press likes to write about during travel season. Read -> https://thebogotapost.com/scopolamine-myths-and-realities/31604/

 

[JohnnyDoe]

Wise is ideal for that purpose

 

[troubled soul]

Wise is ideal for that purpose

For criminal or For keeping money safe

 

[JohnnyDoe]

For criminal or For keeping money safe

For keeping money frozen for a month or more

Anyway, there are plenty of funds with monthly or longer liquidity.

 

[Paul Tudor Jones]

It definitely happens and I know people that had similar things happen to them (mostly cretins that showed off about all their crypto investments).

How to reduce your risk:
1. Keep minimal amounts of money on credit cards and add withdrawal limits to credit card.
2. Keep most of your wealth invested or in a private bank so they require a call\email and any wire will take 1-3 days to confirm and process.
3. Be humble, low-profile and don't show off in 3rd world countries. s**t can happen also in 1st world countries if you show off too much.
4. Don't have social media, don't publicize your money or wealth.

I wonder how many idiots that show off with their money to get laid get bitten in their a*s as a result and just don't talk about it due to shame.