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      07-18-2006, 04:08 PM   #1
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OT - best way to move money "around"?

Things are going well and I'd like to move some money around so I can FINALLY start shopping for a 911 as a weekend toy (the E90 is a great DD - but I want a pure sports car for fun.)

In any case - I've found a site that seems to have lots of good info about how to move cash around, keep things private, etc.

http://www.powerprivacy.com.

Would love some thoughts on this site and its tactics. Might be helpful to others - it seems pretty solid.

Thoguths??

RK
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      07-18-2006, 05:26 PM   #2
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All I see is a spam to buy some privacy crap.
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      07-18-2006, 06:23 PM   #3
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Money shouldn't even be "moved around" with privacy, anyways. You should invest it.

Unless, of course, you are attempting to fund terrorism or launder money in illicit ways with the fear of being under the scrutiny of government agencies.

There also isn't really a good reason to "move" cash around, especially if you think you want to give it to someone else. Instead of giving cash to someone else, just help that other person buy whatever he/she desires because if you transfer cash, especially a large sum, to someone else that person will have to file that cash as personal income thus leading that particular sum of cash to be doubly taxed.

In fact, in the U.S., if you make a transaction of $10,000 or more, the bank/institution will ask for your driver's license as they will keep that on your personal (and perhaps IRS) record.
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      07-18-2006, 06:46 PM   #4
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Quote:
Originally Posted by Rally guy
Things are going well and I'd like to move some money around so I can FINALLY start shopping for a 911 as a weekend toy (the E90 is a great DD - but I want a pure sports car for fun.)

In any case - I've found a site that seems to have lots of good info about how to move cash around, keep things private, etc.

http://www.powerprivacy.com.

Would love some thoughts on this site and its tactics. Might be helpful to others - it seems pretty solid.

Thoguths??

RK
Exactly what does that site have to do with you purchasing a 911? If things are going well for you (congrats) go ahead and get the car and invest the other income.

Another thing, If I had money that needed to be "moved around" I sure as hell wouldn't post it on an internet message board.
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      07-18-2006, 06:59 PM   #5
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No such thing as Privacy in money movement....I'm in finance field, even a small suspicious activity (even in your own accounts) needs to be alerted.
And there are alot of hackers out there....they even know what size you wear
Last time I deposited a $50,000 check to my brothers account...Freakin bank suspended the account for 10 days without a reason. I mean is only $50g. I called up the manager and demanded interest if they gonna hold my $$$
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      07-18-2006, 09:45 PM   #6
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Quote:
Originally Posted by ska
No such thing as Privacy in money movement....I'm in finance field, even a small suspicious activity (even in your own accounts) needs to be alerted.
And there are alot of hackers out there....they even know what size you wear
Last time I deposited a $50,000 check to my brothers account...Freakin bank suspended the account for 10 days without a reason. I mean is only $50g. I called up the manager and demanded interest if they gonna hold my $$$
That's really weird. What was their reasoning for doing that?
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      07-18-2006, 10:07 PM   #7
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they give me bullsh1t about funding issues regarding checks being cleared..blah blah....
My brother needed the money to buy a house in Cali and family members made some deopsit into his account during that week and maybe thats what trigger the account.
is prbly terrorist funding stuff...lol

Quote:
Originally Posted by findtom
That's really weird. What was their reasoning for doing that?
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      07-18-2006, 10:15 PM   #8
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Quote:
Originally Posted by ska
No such thing as Privacy in money movement....I'm in finance field, even a small suspicious activity (even in your own accounts) needs to be alerted.
And there are alot of hackers out there....they even know what size you wear
Last time I deposited a $50,000 check to my brothers account...Freakin bank suspended the account for 10 days without a reason. I mean is only $50g. I called up the manager and demanded interest if they gonna hold my $$$

I've had this happen as well with smaller amounts than that


there was an article on it on abcnews.com a couple days ago, anytime you move over a certain amount of money it generates a report to the govt who investigate you for terrorism.

friggin bastards
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      07-18-2006, 10:18 PM   #9
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yea...we have a fraud-terrorist list that we need to check on suspicious activities...money laundry is also a big issue

one of the biggest fraud now are ACH activities

not sure about banks....prbly is systematic on certain amounts
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      07-19-2006, 12:39 AM   #10
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Hey, Ska - happened to my woman, too. Her big bro gave her just $12k into Washington Mutual but WM will only deposit $2,500 on the 2nd day, then $5,000 more on the 3rd day, and the rest on the 4th day. Completely stupid - checking for terrorist funding? Psh. More like them making quick interest on that amount of cash!
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      07-19-2006, 09:23 AM   #11
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Quote:
Originally Posted by ska
No such thing as Privacy in money movement....I'm in finance field, even a small suspicious activity (even in your own accounts) needs to be alerted.
And there are alot of hackers out there....they even know what size you wear
Last time I deposited a $50,000 check to my brothers account...Freakin bank suspended the account for 10 days without a reason. I mean is only $50g. I called up the manager and demanded interest if they gonna hold my $$$
Ska, what do you do in finance? Just curious coz I'm making the transition into that field myself.
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      07-19-2006, 09:53 AM   #12
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Quote:
Originally Posted by ska
they give me bullsh1t about funding issues regarding checks being cleared..blah blah....
My brother needed the money to buy a house in Cali and family members made some deopsit into his account during that week and maybe thats what trigger the account.
is prbly terrorist funding stuff...lol
Oh, okay so it was a "hold" until the funds had officially cleared. That's pretty normal depending on the depositor's relationship with the bank.
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      07-19-2006, 09:56 AM   #13
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Quote:
Originally Posted by Squawks
Hey, Ska - happened to my woman, too. Her big bro gave her just $12k into Washington Mutual but WM will only deposit $2,500 on the 2nd day, then $5,000 more on the 3rd day, and the rest on the 4th day. Completely stupid - checking for terrorist funding? Psh. More like them making quick interest on that amount of cash!
My understanding is that they are making sure the funds clear properly and are actually transferred to them before releasing them to the client. Although I'm sure they are extra cautious given the chance to freeze some cash up.
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      07-19-2006, 10:03 AM   #14
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Not at liberty to disclose the "money" part of how and what. But it is very interesting. Most of what you see available on the net are regular practices.

The other stuff...you will know when you do something and we find out. It's not always the US which catches this stuff. Remember other government and agencies are not subject to US laws and can sift through the data for us and then give the data to us under many information sharing agreements. Pretty simple and straightforward.

Basically, if you want to catch someone with money in the US, have the UK or South Korea do it...and give the info to us...best way around US laws. You can also go through the FISA and other agencies (Dept. of Treasury) or other organizations.

It's a multi-layered process we use to get stuff. All of this info is available on the internet...except for the more sensitive practices.

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      07-19-2006, 10:12 AM   #15
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there is a trade off here, we either live in fear of another 911 or we let the gov do what is necessary to filter out those terror groups in this country!
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      07-19-2006, 10:17 AM   #16
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10 days for a local bank check to clear is , shouldnt take more than 3 business days in the world we live in today....unless is an international check

Quote:
Originally Posted by findtom
Oh, okay so it was a "hold" until the funds had officially cleared. That's pretty normal depending on the depositor's relationship with the bank.

I'm doing reconciliation stuff right now, use to do fund account...been in fanancial field for 5+ years....is boring to be honest.
I left this field a year ago and was learning IT, couldn't stand it so I came back to this....ahahahah

Good luck with your career/job choice

Quote:
Originally Posted by zimbofk
Ska, what do you do in finance? Just curious coz I'm making the transition into that field myself.
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      07-19-2006, 03:57 PM   #17
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Do a Google on "Check 21".
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      07-20-2006, 08:49 AM   #18
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Quote:
Originally Posted by SoYank
Do a Google on "Check 21".
except for large transactions such as depositing monies into other accounts who still uses checks?
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      07-20-2006, 10:12 AM   #19
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Quote:
Originally Posted by MG_2006325i_KG
except for large transactions such as depositing monies into other accounts who still uses checks?
The last check I wrote was for a bit over $600. I suppose someone would consider that a large transaction; I wouldn't.
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