Is this method being used to launder money?

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UnclePhil

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I've been noticing a possible laundering scheme but I don't wanna believe things are just as easy as it follows:

-Set up an Instagram account

-Buy followers and post some content

-Create an expensive info product

-Structure your dirty money through a botnet and buy your info product

-Pay taxes


What do you think guys? Is it really that easy?
 
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The payments would all need to come from bank accounts somewhere, and pretty much every country that deals with the US is now under FACTA and require AML/CTF checks at setup.

https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act
So even if you found a country not participating in FACTA (like Iran for example), you'd still have to figure out how to accept payments into a US bank account from these thousands of Iranian accounts (which I'm sure you can see is fairly tricky, which is the whole point of FACTA) and all these transactions would be heavily, heavily, scrutinised.
 
UnclePhil said:
I've been noticing a possible laundering scheme but I don't wanna believe things are just as easy as it follows:

-Set up an Instagram account

-Buy followers and post some content

-Create an expensive info product

-Structure your dirty money through a botnet and buy your info product

-Pay taxes


What do you think guys? Is it really that easy?
Click to expand...
The whole thing about money laundering is taking physical cash that is dirty (comes from illegal activities) and cleaning it by depositing it into a digital account through a business or scheme.
 
Possible if the funds are used to purchase a large amount of crypto, and then payment for the info product is taken in crypto instead of via bank payment.

The transactions might still be scrutinised, but there's less information about the source of each payment.

Possible, but not optimal.
 
You could do it through smurfs atleast i think thats what its called. Give 20 people $1k have them all deposit into their personal bank account and then buy the info product. They can keep like lets say $200 of the cash. bam done deal. Obviously this all hypothetical. :p
 
Dunno why everyone thinks money laundering online has to be hard / complex or impossible. UK money laundering checks take place for 10k+ purchases and above although if you try to buy sub 10k now in cash you tend to have to provide bank statements and sometimes a statement to say where the money has come from (if you buy land for example)

Nothing wrong with renting an offline cash base business, and then slowly "grow" that business with a stable growth every year with more "sales"

You could even "loan" that business some money then have it repay interest and make monthly repayments back to you to cover your start up costs.. < note this is something you can do with any business and is perfectly fine.
 
t2van said:
Dunno why everyone thinks money laundering online has to be hard / complex or impossible. UK money laundering checks take place for 10k+ purchases and above although if you try to buy sub 10k now in cash you tend to have to provide bank statements and sometimes a statement to say where the money has come from (if you buy land for example)

Nothing wrong with renting an offline cash base business, and then slowly "grow" that business with a stable growth every year with more "sales"

You could even "loan" that business some money then have it repay interest and make monthly repayments back to you to cover your start up costs.. < note this is something you can do with any business and is perfectly fine.
Click to expand...

Yeah I think those classic laundering methods are well known, but I don't understand why they keep working.
Using ghost offshore businesses shouldn't be that easy right?
 
chn0 said:
You could do it through smurfs atleast i think thats what its called. Give 20 people $1k have them all deposit into their personal bank account and then buy the info product. They can keep like lets say $200 of the cash. bam done deal. Obviously this all hypothetical. :p
Click to expand...
Tax guy is coming for ya:D
 
t2van said:
Dunno why everyone thinks money laundering online has to be hard / complex or impossible. UK money laundering checks take place for 10k+ purchases and above although if you try to buy sub 10k now in cash you tend to have to provide bank statements and sometimes a statement to say where the money has come from (if you buy land for example)

Nothing wrong with renting an offline cash base business, and then slowly "grow" that business with a stable growth every year with more "sales"

You could even "loan" that business some money then have it repay interest and make monthly repayments back to you to cover your start up costs.. < note this is something you can do with any business and is perfectly fine.
Click to expand...
FBI, Open up! :D
 
OP is watching to much breaking bad.You shouldn't worry about money laundering unless you own a drug business.:D
 
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