Money laundering

[Welshbeef]

Ok so here goes - if for some reason you get paid cash in hand and don't declaire it ( stupidly IMHO) you would think there is an issue of where to put the cash you cannot pay it into your bank account.

So here is an idea you can put it into a security box which is 100% secure and undisclosed then buy all your food and don't use your clubcard just pay cash likewise fuel cash only don't buy holidays with cash though do that through your bank or credit cards.

So it's dead easy then.
I ask as you always see films etc with people laiden with cash which they cannot bank in which case security deposit box in the bank. If pf course the volume of the cash gets too much buy diamonds and place them back in said box.
Dead simple and can anyone see how a tax man would ever know?

[randlemarcus]

And I suspect that's a perfectly functional means of tax avoidance for a large amount of the cash receiving population, to one degree or another.

Doing it all cash in hand would raise questions by you paying no taxes at all. On the other hand, being a serious drug dealer will quickly generate enough cash that you don't mind paying someone else up to 40% to turn into something you can legitimately spend.

Everything in moderation

[Park'O]

Just take it to the bank, and say you won it at a Casino.

[robsti]

Park'O said:

Just take it to the bank, and say you won it at a Casino.

Not quite! go to the casino and buy lots of chips walk about for a while maybe have a few small bets then go to the cashier and ask for the chips to be exchanged for a cheque as you dont want to carry large amounts of cash! then take it to the bank.

[Welshbeef]

inkiboo said:

Is this a real question?

If it is, the real answer is that if you are money laundering/evading tax, you are generally talking £100ks of money. You can't (easily) buy a house with cash.

the point though if say you have a full time job pay tax etc then do something else cash in hand and clearly wanted to keep 40% then this is the sole illegal option. Think about it if you paid all your fuel and grocery and clothing in cash what would happen is your savings would increase by this amount you would have spent anyway.

Buying a house is not really possible for cash buy lockup garages are easy to do likewise are cars but you really don't want to buy things which get you noticed.


I did hear of someone years ago who had 40+ lockup garages all rented but declared nothing and bought everything for cash - now somehow the tax man was given the nod or just by chance they looked at his they way they nailed him was he used his clubcard.... Jail plus massive fine plus backdated tax if he had no clubcard he would have got away with it on that front

[Welshbeef]

robsti said:

Park'O said:

Just take it to the bank, and say you won it at a Casino.

Not quite! go to the casino and buy lots of chips walk about for a while maybe have a few small bets then go to the cashier and ask for the chips to be exchanged for a cheque as you dont want to carry large amounts of cash! then take it to the bank.

a good option but they would be keeping an eye on you ie the casino.

The traditional way pf cleaning cash is say your a triad member you go to the triads legal casino then lose all your illegal cash be it drugs racketeering etc the casino pays tax on the profit the owners take the cash out as dividends totally legally clearly lost the tax part but that's clean income.

Another route which is where the name came fro
is a laundry just run the cash through the books but you have to be carefull as if the turnover is above what the total opening hours run rate could be it's obvious it's dodgy

[eldar]

Put it in a Tesco bag. take it to the police station and claim you found it. Claim it after 3 months?

[grumbledoak]

Your behavioural (i.e. earning and purchasing) patterns would stand out something rotten, unless you manage to get yourself off every database a la our Pikey friends. But, I think most are 'dobbed in' by irate exes.

[B17NNS]

Open a tanning salon. Apparently.

[slippery]

B17NNS said:

Open a tanning salon. Apparently.

Funny you should say that! A new one has just opened near me a the guy has a brand new DB9.

[smartie]

or a hand car wash.............?

[jas xjr]

Welshbeef said:

robsti said:

Park'O said:

Just take it to the bank, and say you won it at a Casino.

Not quite! go to the casino and buy lots of chips walk about for a while maybe have a few small bets then go to the cashier and ask for the chips to be exchanged for a cheque as you dont want to carry large amounts of cash! then take it to the bank.

a good option but they would be keeping an eye on you ie the casino.

The traditional way pf cleaning cash is say your a triad member you go to the triads legal casino then lose all your illegal cash be it drugs racketeering etc the casino pays tax on the profit the owners take the cash out as dividends totally legally clearly lost the tax part but that's clean income.

Another route which is where the name came fro
is a laundry just run the cash through the books but you have to be carefull as if the turnover is above what the total opening hours run rate could be it's obvious it's dodgy

casinos have cct.
on course betting might be better.

if it was me ,wish it was , i could just transfer the money to india. i would pay it to a chap here and one of his people would deliver where i wanted in india. i could then buy whatever i wanted . land etc , cash. it is getting more difficult i believe but it is still do able

[Eric Mc]

Most businesses have to notify the Serious and Organised Crime Authority (SOCA) if someone approaches them wanting to purchase something using large sums of cash. This applies to banks, jewellers, estate agencies, car dealers, solicitors, accountants etc.

[jeff m]

Eric Mc said:

Most businesses have to notify the Serious and Organised Crime Authority (SOCA) if someone approaches them wanting to purchase something using large sums of cash. This applies to banks, jewellers, estate agencies, car dealers, solicitors, accountants etc.

It is getting to the stage where bank/cashier cheques are frowned upon.
I bought a car and gave them a cashiers check for a deposit, as I thought they would prefer it. (They being a main dealer) They said just give us a personal cheque for the balance because we have to fill out lots of paperwork for bank cheques.

[Ribol]

Welshbeef said:

I ask as you always see films etc with people laiden with cash which they cannot bank in which case security deposit box in the bank. If pf course the volume of the cash gets too much buy diamonds and place them back in said box.
Dead simple and can anyone see how a tax man would ever know?

http://www.telegraph.co.uk/news/uknews/2066470/Safety-deposit-box-raids-yield-1bn-of-drugs-cash-and-guns.html

[Welshbeef]

Ribol said:

Welshbeef said:

I ask as you always see films etc with people laiden with cash which they cannot bank in which case security deposit box in the bank. If pf course the volume of the cash gets too much buy diamonds and place them back in said box.
Dead simple and can anyone see how a tax man would ever know?

http://www.telegraph.co.uk/news/uknews/2066470/Safety-deposit-box-raids-yield-1bn-of-drugs-cash-and-guns.html

One would think BiB might have read my post & then acted upon it.
I cannot understand how they could open every box - you'd need a warrant for each & every one. Any innocent people deserve compensation.

[Ribol]

Welshbeef said:

Ribol said:

Welshbeef said:

I ask as you always see films etc with people laiden with cash which they cannot bank in which case security deposit box in the bank. If pf course the volume of the cash gets too much buy diamonds and place them back in said box.
Dead simple and can anyone see how a tax man would ever know?

http://www.telegraph.co.uk/news/uknews/2066470/Safety-deposit-box-raids-yield-1bn-of-drugs-cash-and-guns.html

One would think BiB might have read my post & then acted upon it.
I cannot understand how they could open every box - you'd need a warrant for each & every one. Any innocent people deserve compensation.

I know three people who got caught up in this, all genuine people (no crooks), all still to this day out of pocket as a direct result of the Met's actions.

[Welshbeef]

I really do question the legaility of what they have done - all the innocent people as you say out of pocket & wasting their time & possibly be treated like a criminal until they have been cleared.

[Ribol]

Welshbeef said:

I really do question the legaility of what they have done - all the innocent people as you say out of pocket & wasting their time & possibly be treated like a criminal until they have been cleared.

You would be amazed what can be 'justified' in the interests of protecting us all from the nasty terrorists, I am sure the world is a much better place as a result of Operation Rize.

[x 7usc]

eldar said:

Put it in a Tesco bag. take it to the police station and claim you found it. Claim it after 3 months?

i LIKE that idea