4 ms·
Criminals can be very creative, but I struggle to understand this too. Fine, you sell a ridiculously overpriced thing, that amounts to disguising a money transf
by ASalazarMX 5y ago
Criminals can be very creative, but I struggle to understand this too. Fine, you sell a ridiculously overpriced thing, that amounts to disguising a money transfer as a sale, but how can you launder dirty money unless you pay in cash? Can auctions take a bag of cash as payment without repercussions?
OTOH, there might be something I'm not seeing here. In my country, private doctors at high-end hospitals accept cash as payment (even for major surgeries), which for common mortals would be a fiscal hell to convert into bank money, but they seem to be fine with it. I've noticed that most high-end hospitals also have a non-profit charity attached, and that many doctors have several big and ugly paintings in their offices.
- efficax 5y agoYes, and in fact these transactions are often in cash. It's true there's always going to have to be an initial transaction that's dirty. But if you have some (other) way to wash that, you can do all your following transactions as "art" sales, keeping the art in a freeport so it's never taxed as an asset and is just moved from one vault to another when these sales are made.