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> you have dirty money in a high-scrutiny jurisdiction, you buy a piece of art for $10M How does the sale take place? Cash? So when the seller deposits the cas
by hiatus 2y ago
> you have dirty money in a high-scrutiny jurisdiction, you buy a piece of art for $10M
How does the sale take place? Cash? So when the seller deposits the cash, no one asks where it came from?
- llamaimperative 2y agoIt came from an art sale… you can go read an article about it in the news, in fact, and sure you may think it’s ridiculous but that’s just because you’re uncultured and don’t understand Fine Art. People are demonstrably willing to pay millions for bananas on walls. Obviously it attracts some attention (we’re here talking about it), but a whole lot less than a wire transfer of $10MM out of the country which would trigger SARs at several levels.
- hiatus 2y agoAh so why do the sale at all then? Why not just deposit $10MM in cash at the bank and say it was from an art sale? Something is missing in your explanation.
- llamaimperative 2y agoAre you an artist who'd pass KYC for doing $10MM art sales...? If so, then yeah, you probably could do that.
- deleted 2y ago[deleted]
- hiatus 2y agoSo you're just making things up as you go along? You haven't really explained the mechanics at all and are doing a lot of handwaving.