3 ms·

This is pretty easy to bypass by looking at parents' tax returns from the past 20 years, plus their assets.

kennend3 4y ago
Because no one has ever worked for cash and lied about it? Do you suspect that someone who launders dirty money for a living did their taxes and listed "money launderer" as occupation and reported their income? Assets like this are often hidden behind shell companies to prevent law enforcement from taking them under "proceeds of crime" charges.
- kevinsundar 4y ago
  There are so few people this would apply to (wealthy individuals with large amounts of unreported cash income who are applying to college) that its not even worth considering as an edge case for college admissions. The point isn't to eliminate every possible way college admissions can be gamed but to get the best method that works for the majority of applicants.
  - kennend3 4y ago
    > There are so few people this would apply to (wealthy individuals with large amounts of unreported cash income who are applying to college) that its not even worth considering as an edge case for college admissions. You would be mistaken.. This is actually a rather serious problem. https://www.theglobeandmail.com/news/british-columbia/incomeless-students-spent-57-million-on-vancouver-homes-in-past-two-years/article31892652/ https://www.theglobeandmail.com/news/british-columbia/income... https://vancouversun.com/opinion/columnists/douglas-todd-vancouver-still-suffering-fallout-from-students-buying-mansions https://vancouversun.com/opinion/columnists/douglas-todd-van... https://torontosun.com/2016/05/12/311-million-vancouver-mansion-owned-by-student https://torontosun.com/2016/05/12/311-million-vancouver-mans... https://www.vice.com/en/article/wd7wz4/student-owns-this-31-million-vancouver-mansion https://www.vice.com/en/article/wd7wz4/student-owns-this-31-...
    - naniwaduni 4y ago
      This seems like multiple reports on a single batch of incidents connected to sketchy accounting of foreign capital (and in Canada). What about this doesn't scream "edge case" and needs to be handled as a general case of college admissions and not by anti-money-laundering?
- naniwaduni 4y ago
  There are enough disadvantages to having your money be "dirty" in this way that I'm not sure it really moves the needle? There's no way this is an easier way to game admissions than throwing around "clean" money, right?
- jimbokun 4y ago
  Then it's no longer an issue for college admissions officers to police, but the IRS.

Because no one has ever worked for cash and lied about it? Do you suspect that someone who launders dirty money for a living did their taxes and listed "money launderer" as occupation and reported their income? Assets like this are often hidden behind shell companies to prevent law enforcement from taking them under "proceeds of crime" charges.

kevinsundar 4y ago
There are so few people this would apply to (wealthy individuals with large amounts of unreported cash income who are applying to college) that its not even worth considering as an edge case for college admissions. The point isn't to eliminate every possible way college admissions can be gamed but to get the best method that works for the majority of applicants.
- kennend3 4y ago
  > There are so few people this would apply to (wealthy individuals with large amounts of unreported cash income who are applying to college) that its not even worth considering as an edge case for college admissions. You would be mistaken.. This is actually a rather serious problem. https://www.theglobeandmail.com/news/british-columbia/incomeless-students-spent-57-million-on-vancouver-homes-in-past-two-years/article31892652/ https://www.theglobeandmail.com/news/british-columbia/income... https://vancouversun.com/opinion/columnists/douglas-todd-vancouver-still-suffering-fallout-from-students-buying-mansions https://vancouversun.com/opinion/columnists/douglas-todd-van... https://torontosun.com/2016/05/12/311-million-vancouver-mansion-owned-by-student https://torontosun.com/2016/05/12/311-million-vancouver-mans... https://www.vice.com/en/article/wd7wz4/student-owns-this-31-million-vancouver-mansion https://www.vice.com/en/article/wd7wz4/student-owns-this-31-...
  - naniwaduni 4y ago
    This seems like multiple reports on a single batch of incidents connected to sketchy accounting of foreign capital (and in Canada). What about this doesn't scream "edge case" and needs to be handled as a general case of college admissions and not by anti-money-laundering?
naniwaduni 4y ago
There are enough disadvantages to having your money be "dirty" in this way that I'm not sure it really moves the needle? There's no way this is an easier way to game admissions than throwing around "clean" money, right?
jimbokun 4y ago
Then it's no longer an issue for college admissions officers to police, but the IRS.