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Can The FTC Freeze or Raid Foreign Bank Accounts?

Discussion in 'Business & Tax Advice' started by rollthedice, Jan 28, 2011.

  1. rollthedice

    rollthedice Newbie

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    I understand if the FTC has some beef with you and it's serious (think Frank Kern back in the early 2000s) they can freeze or at worst, go into your AMERICAN bank accounts.

    My question is to they have this power with bank accounts in foreign countries? Unlikely I know, but I'm trying to cover all my bases at the moment...

    Obviously, it would be difficult to impossible to have any effect on lets say a Latvian bank...

    But what about accounts in countries which the USA has close ties with? I'm thinking:

    Japan (most importantly for me as I live there...)
    UK
    Canada
    Australia

    Is there an special relationship between the FTC / American Gov and these countries or are we free of their clutches?
     
    Last edited: Jan 28, 2011
  2. Laser

    Laser Jr. VIP Jr. VIP Premium Member

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    Yes they can "pull strings" and influence countries outside the USA to "co-operate" and freeze accounts, seize assets, and arrest people.

    But these actions are for serious internet crimes.
    Such as email spammers influencing stocks for their gain,
    online pharmacies selling controlled substances without prescriptions,
    carding, online fraud, hacking, child pornography,, all of which are blatantly criminal.

    I know of one spam case where the FTC enlisted the help of Russia and apprehended stock spammers within Russia's borders.

    Russia used to be a haven for spammers and internet scammers but not any more.
     
    Last edited: Jan 29, 2011
  3. wrangler

    wrangler Regular Member

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    In a nutshell, yes. They have to go through some hoops, but if you've been "bad" enoug / there's enough money, they can and will.
     
  4. eBayMafia

    eBayMafia BANNED BANNED

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    Long story short, yes.

    It doesn't matter where the money IS, it's about where the money came from.
     
  5. donduck

    donduck Junior Member

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    only if it crime related
    not if only not paying tax
     
  6. rollthedice

    rollthedice Newbie

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    Thanks for all the reassurances. I'm nowhere near criminal activity; just a little black hat here and there but just wanted to make sure :)
     
  7. BorisTipsIt

    BorisTipsIt Regular Member

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    You should split up the risk and revenues. Do you black hat work through one business and bank account. Then form another business and pay it a management fee. If the FTC or anyone else a comes a nock'n, there is little or no money for them to snag. Of course, they might just go after you personally, but I digress...
     
  8. mikkseen

    mikkseen Jr. VIP Jr. VIP Premium Member

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    Everything depends on the country and wether or not the US had some sort of agreements in place for tax blah blah, also wether the bank has US presence and etc.

    Google the UBS swiss bank and us government story this will give you a good idea :)
     
  9. richelld

    richelld Junior Member

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    Online Fraud is a rather grey term when it comes to marketing.

    Just start a church and operate your business as owned by the church if your worried about taxes
     
  10. multimedia

    multimedia Power Member

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    The FTC can do anything if the get hold of your details. So, cover your tracks properly and dont do anything Illegal that BHW itself does not allow :D