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29 votes
Accepted

Is this laundering money?

united-states Under U.S. law in almost every U.S. jurisdiction this would be illegal conduct. Arnie would be a co-conspirator with Bob in money laundering and in embezzlement of government funds. ...
ohwilleke's user avatar
  • 220k
19 votes

Is it tax fraud for an individual to declare non-taxable revenue as taxable income? (US tax laws)

Money Laundering The primary crime that you have described is called money laundering. Note that money laundering includes: "structuring financial transactions in order to evade reporting ...
ohwilleke's user avatar
  • 220k
13 votes
Accepted

Is it legal to trade bitcoin for cash in Virginia, USA?

The short answer is that a few individual trades would be legal (e.g. if you sell some to a friend), but doing so on a regular basis for profit (e.g. offering a sale price and a bid price to all ...
Paul Johnson's user avatar
  • 13.6k
13 votes

Is it tax fraud for an individual to declare non-taxable revenue as taxable income? (US tax laws)

I have submitted a false tax return Provided it really is false, you violate 18 USC 1001: (a) Except as otherwise provided in this section, whoever, in any matter within the jurisdiction of the ...
Kevin's user avatar
  • 4,769
9 votes

Is it possible for an individual to commit money laundering like a bank?

Because money laundering is a form of transnational crime there is an extensive system of treaties which harmonise, to some extent, the laws of most developed countries. Relevantly to your question, ...
sjy's user avatar
  • 9,286
8 votes

Transferring Paypal money to sons friend

But lately he has had his friend use my PayPal account. Someone will send me money and then I transfer it to where he tells me. To cash app or venmo. That's money laundering. Definitely illegal. ...
RonJohn's user avatar
  • 585
7 votes
Accepted

On the legality of replacing international transfers with intranational ones

Would this be legal? Probably at this scale. Not necessarily extrapolated to a large commercial operation involving more parties. At some point it becomes a payment system and a financial enterprise ...
ohwilleke's user avatar
  • 220k
7 votes

Is this laundering money?

Bob and Arnie both hang, for conspiracy, Arnie for bribery and Bob for misuse of public funds. See, there's a right way to do that transaction and they didn't do it. Bob is required to have a paper ...
Harper - Reinstate Monica's user avatar
6 votes

Is it tax fraud for an individual to declare non-taxable revenue as taxable income? (US tax laws)

I don't think any of it is a crime And it sounds like a lot of work to me. Getting overpaid for it doesn't make you a crook, just one of many overpaid people in society today. Remember, you assure ...
Harper - Reinstate Monica's user avatar
6 votes

Is this laundering money?

This is embezzlement, bribery, fraud, and kickbacks, but it doesn't satisfy many definitions of money laundering. According to the United States Department of the Treasury, Money laundering is the ...
Acccumulation's user avatar
5 votes
Accepted

Can you buy a luxury car with cash?

You can purchase any expensive item for cash, if the seller will accept it. In the US and many other jurisdictions, a seller is not required to accept cash, but many will. In the US and many other ...
David Siegel's user avatar
5 votes
Accepted

In Germany, is there a reward for reporting possible tax fraudsters or money launderers to the authorities?

You can report your suspicions to any German police station or any prosecution service (Staatsanwaltschaft). Furthermore, in this case to any tax authority (Finanzamt). Your report may be made ...
Singulaere Entitaet's user avatar
5 votes
Accepted

Making bad movies as money laundering scheme?

Suppose you want to pay for your son's college tuition with cocaine sales proceeds. You hire your son as an actor in your miserable movie and pay him $90,000 for doing so. The movie is produced by a ...
ohwilleke's user avatar
  • 220k
5 votes

Can you buy a luxury car with cash?

Would that be legal? Yes. But it's also legal for the seller to refuse a cash payment. Will IRS or FBI or anybody come knocking on the door asking about origin of that money or its taxes or whatever?...
Hilmar's user avatar
  • 1,323
4 votes

Why is Silk Road criminal but not LocalBitcoins?

It comes down to intent ... and possibly responses to illegal activity. Localbitcoins intention is to facilitate trade in bitcoins - in itself a legal undertaking. Cryptocurrancy transactions can be ...
Dale M's user avatar
  • 213k
4 votes
Accepted

Are charities prevented from paying money to other charities?

It looks to me as if "money laundering" is a misunderstanding; though any organization has a duty to prevent this, charities have no special responsibilties. However, charity law does in general ...
Tim Lymington's user avatar
4 votes

Are identifiable cryptocurrency miners helping crime?

Here are the suggested federal jury instructions for aiding and abetting: To "aid and abet" means intentionally to help someone else commit a crime. To establish aiding and abetting, the ...
D M's user avatar
  • 7,213
4 votes
Accepted

If all the money that comes in and out of my account are by means of cheques and credit cards, can I still commit money laundering?

You can be charged. The criminal act is defined here and here. A core defining feature of violation of The Money Laundering Control Act of 1986 is knowing that the property involved in a financial ...
user6726's user avatar
  • 215k
4 votes
Accepted

How does the Bank Secrecy Act affect normal law-abiding citizens?

None First, only cash transactions are reportable: electronic and cheque transactions aren't. The only ones that will be reported are your single withdrawal and deposit. As you say $10,000 is not a ...
Dale M's user avatar
  • 213k
4 votes
Accepted

If I pay someone to place a sports bet that wins, have I committed money laundering?

No. Money Laundering is the act of taking money that was made as a result of criminal activity and turning it into "clean" money. There are a number of ways this occurs, and there may be ways to do ...
hszmv's user avatar
  • 23k
4 votes

Would a bitcoin "cleaning" service be legal in New Zealand?

The applicable law is the New Zealand Anti-Money Laundering law. The regulations describing exactly what is covered don't mention Bitcoin cleaning, but the "wire transfer" and "currency exchange" bits ...
Paul Johnson's user avatar
  • 13.6k
4 votes
Accepted

Could you explain the concept of money laundering in simple terms?

Laundering physical money Let's say a career criminal committed a couple crimes and is now in possession of a large heap of money in form of coins and paper currency. They want to use that money to ...
Philipp's user avatar
  • 7,362
4 votes

Can a business which only loses money be a "money laundering" method?

Sure You run a restaurant employing relatives and cronies and you scrupulously pay them and their taxes. Say $500k. That is clean money. You take some money from running the restaurant but not enough ...
Dale M's user avatar
  • 213k
4 votes

Is it legal in the UK to lie and provide fake documents to get past AML checks?

As noted by Lag in the comments, this is in fact fraud by false representation. The statute states: Fraud by false representation (1) A person is in breach of this section if he— (a) dishonestly ...
ThrowawayCabbage's user avatar
3 votes

Is it legal to trade bitcoin for cash in Virginia, USA?

You will also need to file your taxes properly The IRS and state will view this as a sale of a security. Any capital gain must be reported on your taxes, i.e. your normal Form 1040 that you file ...
Harper - Reinstate Monica's user avatar
3 votes
Accepted

How are the Localbitcoins.com founders safe from money laundering laws?

The developers of the site localbitcoins.com are providing a service that is not itself illegal. They explain their service and its limitations in their Terms of Service (my emphasis): All trades ...
BlueDogRanch's user avatar
  • 18.8k

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