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You can simply re-wire money between different jurisdictions. Lets say you send money to Phillipines -> Gibraltar -> Caymans -> Russia -> UK -> Panama -> Switze
by funkyy 10y ago
You can simply re-wire money between different jurisdictions. Lets say you send money to Phillipines -> Gibraltar -> Caymans -> Russia -> UK -> Panama -> Switzerland
Because each country is on different continent, following different rules and laws, accessing data is extremely hard.
Many countries from different geographical locations wont be happy to give access to banking information.
Before they can track the money, it will be deposited to shell company. With amounts like that there are often bigger powers that will help make them disappear, like politicians and bank executives.
I personally have been dealing with banks on higher level and their willingness to ignore the rules and regulators is enormous. Thats in EU, I believe in countries like Gibraltar or Cayman Islands must be pretty easy.
- ben_jones 10y agoIt reminds me of Wolf of Wall Street and the Swiss banker. If I was ever involved in such a situation I'd be expecting to call the banker (who's complicity laundering) and hear "what money? you have no money with us).
- slmyers 10y agoA few reasons why the "banker" may not be interested in stealing your money. 1) In the black markets reputation is meaningful... if word gets around that you rip people off, then you might have trouble finding more customers. 2) Stealing that much money is a good way to get killed. I wouldn't put it past a powerful white collar criminal to organize a murder or two.