Questions tagged [money-laundering]

Money laundering is the act of concealing the transformation of profits from illegal activities into ostensibly "legitimate" assets.

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25 votes
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I am in a sugar daddy scam and he is threatening me because I want out. What do I do?

I have been involved in a sugar daddy relationship for a little while. He would send me money from Moneygram to Walmart from other people he was working with. I would then send most of the money to a ...
Jennifer's user avatar
  • 283
2 votes
0 answers
122 views

When were KYC questions introduced in the EU?

The Wikipedia page on KYC doesn't provide that information. I believe it happened a few years after 9/11 so it is hard to google — all results I get are much more recent. Specifically, I am interested ...
d-b's user avatar
  • 357
1 vote
2 answers
1k views

Why might a Fan Duel bettor want to launder his winnings through someone else's bank account? [duplicate]

A friend of my son's won a lot of money from betting on Fan Duel. We can't figure out why the friend asked my son to receive payments related to the guy's winnings. After receiving the transfer of $...
aparente001's user avatar
9 votes
2 answers
629 views

What is actually done in AML checks?

I've seen a couple of videos (1, 2, 3) that essentially explain what money laundering is and why it's important to prevent it. The keyword I stumble over a lot is AML - Anti Money Laundering. However, ...
Martin Thoma's user avatar
-1 votes
2 answers
2k views

Someone asked me to log in into their bank account

For almost two months, I have been talking online to a guy who allegedly owns a mining company in Australia but works in NYC for his current job, gem dealer! Allegedly, currently, he is on a cruise ...
Lia brown's user avatar
-1 votes
2 answers
332 views

Am i being used for bank fraud [duplicate]

I have been speaking to a girl in Nigeria she promised to visit me but but twice didn't show up said she loved me although never met. Asked for money multiple times asked for bank details and says she ...
Richard Madden's user avatar
41 votes
10 answers
6k views

Why do NFTs have value?

I've seen dozens of articles on NFTs, and not comprehended a single one. So when someone made an NFT of the first Twitter posting, I didn't understand how that would be a means to generate any sort ...
Mike Serfas's user avatar
2 votes
2 answers
219 views

Is it money laundering if they want to deposit in your account?

I would like to know if somebody asks for your banking account number and routing number but they are just depositing money into your account but is that money laundering?
Diana L Schneider's user avatar
1 vote
2 answers
287 views

Money laundering and speculation gains

With all the crypto speculation I was wondering: How do countries differenciate between "dirty" money and speculation gains? I know that in Switzerland you don't have to pay taxes on capital ...
NoRyb's user avatar
  • 445
1 vote
2 answers
485 views

Is it illegal to transfer money to my girlfriend in Taiwan?

I am working in America. My girlfriend is in Taiwan. Every month, I will transfer 800 USD to her via Bank of America. Is it illegal? Will it be considered money laundering?
CC GG's user avatar
  • 13
-2 votes
1 answer
606 views

Someone sent me $5000.00, told me to keep $100.00 and return rest of money to an address. Can I keep that money and do nothing? What could happen? [duplicate]

What happens if I keep cash sent to me instead of keeping a portion of it and returning the rest to an address in the United States? They have my address but no other information that I can recall. ...
Bimbo's user avatar
  • 11
-2 votes
3 answers
413 views

Inquiring does this sound like a romance scam

I met an individual on Facebook dating, he stated that a contract came through and he has to go to Turkey for three months to do the job. Individual states that he is a engineer for oil rig company ...
Stella Shellie Renee Waddell-M's user avatar
3 votes
2 answers
837 views

I unwittingly laundered money. What should I do?

Recently, I gave my bank account details to somebody who said they will be using my account to transfer money between personal accounts, and that I would get a commission out of each transfer. ...
Anonymous's user avatar
-5 votes
3 answers
752 views

A friend wants to use my bank account to receive $50K and forward 65% of it to himself. Is this money laundering?

A friend of mine says that 4 years ago he invested $500 in bitcoin and now the bitcoin company is paying off $50,000. He wants me to use my bank account to receive the money. He says he needs my ...
Karen Johnson's user avatar
17 votes
3 answers
2k views

How to deal with a relative's hoarded cash without being accused of money laundering

An elderly relative has been hoarding cash for many years, due to a distrust of financial institutions. Whenever his (multiple) pensions have been paid in, he withdraws most of it in cash and stores ...
Anonymous Worrier's user avatar
1 vote
3 answers
5k views

Scam — wire transfer recall not possible

I've been scammed in an online investment by wiring 10,000 USD to a mule account. I called my bank the same day to get it recalled. The beneficiary bank, Bank of America (BofA), asked for a police ...
kcount29's user avatar
1 vote
0 answers
87 views

The best/cheapest way to get money from Moldova to pay bills in UK

I would like to withdraw money from my foreign account outside Europe (Chișinău (Moldova)) and deposit it in a UK bank account, as it has become clear I will be staying in the UK for a longer time ...
Stinger's user avatar
  • 11
1 vote
1 answer
11k views

Am I being Scammed by a Sugar Momma? [duplicate]

Lemme start this off by saying I haven't done anything yet or handed over any info yet, I'm just trying to see in advance whether it's time to block this lady and move on or keep riding the trail. ...
Kimmy_Baby's user avatar
4 votes
2 answers
237 views

Question about plausibility of an iffy financial transaction in a crime novel

This is a question about a financial transaction in a novel. At the denouement of the book, An elderly, naive, innocent, middle-class couple who have been bilked by a loan racket run by extremely ...
ab2's user avatar
  • 1,900
0 votes
3 answers
598 views

Is my friend being scammed [duplicate]

I have a friend who lives in Atlanta, Georgia. There is a guy she met on Facebook who stays in Malaysia but originally from Nigeria. This guy asked to send her money and open lots of accounts, ...
Hassan's user avatar
  • 11
1 vote
1 answer
260 views

UK limited company buying UK real estate: KYC and AML requirements

The situation is the following: Our family has setup a structure of companies to manage our investments into real estate. There is ACME Limited, a UK limited company properly registered in the UK, ...
TorstenS's user avatar
  • 200
2 votes
1 answer
709 views

Can I cash out Bitcoin without proof of provenance?

I have around 25 BTC from back when Bitcoin was around 10$ or lower. At the time, a friend sent them to me and I never thought they would ever be worth much. Since that time, I've moved them around ...
maxklein's user avatar
3 votes
2 answers
634 views

How do I turn a person who is trying to scam me to the authorities?

I'm looking for a contact or website to turn in a person I believe is part of a huge scam. He's offering 5.5 million dollars :-) It might be money laundering.
Cindi Bethel-Carmona's user avatar
8 votes
2 answers
4k views

A stranger from Norway wants to have money delivered to me

A man from Norway who says he's from Florida wants me to invest a suitcase full of money. I told him to send it to the local police department and I would pick it up there. Of course, he insists he ...
Cindi Bethel-Carmona's user avatar
-2 votes
1 answer
254 views

How Were the Scammers from North Korea able to Hack SWIFT CODES?

Sanctions-Hit North Korea Stole $13.5 Million From Cosmos Bank: Report North Korea was reportedly using cyberspace for undercover operations "to acquire funds through a variety of measures in order ...
KARTIK GURNANI's user avatar
47 votes
9 answers
18k views

I believe this to be fraud — hired, then asked to cash check and send cash as Bitcoin

I have been "hired" by Nissan Motor as a key account specialist. My first assignment is to cash two checks that I have received. Both were written by a customer who has already received the engines. ...
john balint's user avatar
1 vote
3 answers
752 views

How do dating website scams work? How can I protect someone from them?

My husband of 50 years has gotten sucked into a Chinese dating site. A woman(?) has 'fallen in love' with him and wants him to open an account at HSBC so she can start a 'fund' for him to give him ...
jerrej's user avatar
  • 19
4 votes
4 answers
8k views

Victim of being used as money mule. What should I do next?

Between June-July 2018, an Instagram page called 247cashouts messaged me on Instagram asking if I wanted to make some extra money. He told me the way it would work is; he collects money from ...
user80627's user avatar
92 votes
5 answers
34k views

Why do Nigerian email scammers openly say they are from Nigeria?

I know that a significant part of Nigerian scammers are indeed working from Nigeria. A scam starts with exchanging messages. Physical contact is not to be expected. It is widely known that scammer ...
Volker Siegel's user avatar
8 votes
3 answers
2k views

Is this a money laundering scam?

Seems shady. Here is what has happened so far: Job offer in newspaper: personal assistant, 10-15 hours per week, $500 per week. I took the job. Didn't have to fill out any W-2 forms or anything. ...
radicalmoney's user avatar
82 votes
7 answers
45k views

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

An online company hired my friend as an account assistant. They told him they are a business consulting firm, and that they need an account assistant in every area. His job is the following: Some ...
ashif antor's user avatar
1 vote
1 answer
335 views

Who loses money stolen and laundered via an app platform (Steam)?

Imagine a scenario like: 1. Hacker steals credit card info. 2. He uses stolen card to buy virtual assets on Steam. 3. He sells these virtual assets to other unsuspecting players in exchange for ...
Hele's user avatar
  • 113
81 votes
12 answers
43k views

A friend asks me all the time to pick up money for her (Western Union, Moneygram)

A friend of mine trades Bitcoin and often asks me to pick up money for her, i.e., someone sends money to me (on my name) and I just pick it up and give it to my friend. The amounts are usually around $...
ApexAdam's user avatar
  • 699
2 votes
4 answers
6k views

Is this considered structuring?

If a friend is depositing (transferring) cash into my bank account in parts, is that considered structuring? To be more specific, he is waiting on specific amounts and deposits whatever is on hand. ...
Shadi's user avatar
  • 123
3 votes
1 answer
283 views

Real estate AML exemptions — how does unreported cash purchase survive an audit? [closed]

In the United States, real estate maintains an exemption from anti-money laundering (AML) statutes. Hence, it is possible to purchase a property via large cash transactions without reporting to a ...
CQM's user avatar
  • 20.2k
101 votes
5 answers
69k views

Is this person doing illegal money transfers?

This girl that I'm friends with and have actually seen in person before, keeps posting [on social media] that she "loves when the transfer goes through" and gets $2000-$6000 for free quite often. She ...
Autumn Thompson's user avatar
8 votes
3 answers
757 views

Is this money laundering?

Recently, while browsing for computer parts I don't need, I came across a 1050W power supply on Amazon listed for $50,000. I also used to have a screenshot (which I unfortunately can't find right now)...
User41943's user avatar
  • 183