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> But how do you recover the funds again? You'll need to declare that you sold art for X, and tax it so you can actually use it. Yes, in every respect you trea
by boomlinde 5y ago
> But how do you recover the funds again? You'll need to declare that you sold art for X, and tax it so you can actually use it.
Yes, in every respect you treat it as legitimate trade, when in fact it's payment for something illegal, in order to conceal that it isn't payment for a legal service or good. That's a basically a dictionary definition of money laundering.
I'm not sure what you expect of it here, or why paying taxes matters. The point is not to evade taxation, but to conceal the illegal transaction and make it appear as though it's legitimate and legal.
> Again, nothing has been washed here, you've just made a normal transfer with zero benefit.
Something has been washed in the sense that you've intentionally created a plausibly legitimate cover for the transaction in order to conceal the illegal goods/services the payment actually concerns.