Offshore Banking..What you should KNOW
 

http://www.bradenton.com/mld/bradent...al/2949078.htm

IRS probes offshore credit card accounts
MIMI WHITEFIELD
Knight Ridder Newspapers



In a broadening investigation of tax cheats, the Internal Revenue Service said this week that MasterCard has turned over records from more than 230,000 credit card accounts issued by offshore banks, enabling it to develop hundreds of cases for civil audits or possible criminal investigations.

Visa and American Express may not be far behind.

The investigation is part of a massive crackdown that began in October 2000 to track down taxpayers who are using offshore banks to hide assets from the U.S. tax collector. The IRS estimates there may be as many as one million to two million U.S. citizens holding debit or credit cards issued by offshore banks.

Among the people IRS investigators found using the offshore MasterCards: executives of publicly held companies, doctors, lawyers, business owners, investment professionals, promoters of tax shelters and the author of several books on offshore tax havens.

While it is not illegal for a U.S. taxpayer to have an offshore bank account, create an offshore corporation or hold a credit card issued by an offshore bank, U.S. tax obligations still must be paid.

The IRS initially sought records from MasterCard International and American Express on account holders whose cards were issued by banks in the Bahamas, Antigua and Barbuda, and the Cayman Islands.

MasterCard complied with the request by producing an electronic database that contained more than 1.7 million transaction records.

That's old news. They are going after the sports gamblers who used offshore CC cards to hide their winnings.

Uhm, so dont use a Visa or Mastercard.

The card ******s are narcing you off, not the banks.

http://seattlepi.nwsource.com/busine...ummons20.shtml

and yes labret your right!!!

companies like Yambo.biz will take your money upfront to open an account and let you take a chance with the feds

This isnt old news. The article is old. You dont think that with the increase of illegal funds transfered by terrorists via CC they arnt going to crack down on everything?

then they take EVERYTHING you own

why??

because they CAN!!!

Sure you have to pay taxes on gambling winnings ??

just buy some off shore passport and you are ok:thumbsup

I called a friend that works at the IRS and here is what she would tell me...

That CURRENTLY there is an open investigation of Yambo.biz

she wouldnt tell me for what (she cant) BUT she did tell me that there have been alot of complaints filed in the last 45 days which is what prompted the opening of the investigation


i dont know what alot is but becareful...

Obviously the IRS aka BigBrother is watching them

freeme,
in Russia,
investigative reporters are usualy get shot....
;-)))

I am sure she would tell you and all her friends if she knows anything about:1orglaugh

why would she do that and potentially lose her job?

So where can I still hide assets? And I don't see how it can be considered an asset in the USA if its wired from a foreign casino to a foreign bank account.

:winkwink: thats great, but in Epsom, Surrey they usually get a cup of tea.

"Yambo.biz is incorporated in United Kingdom. Yambo.biz is located in Epsom, Surrey (UK)"

"Yambo Financials Ltd.
14 Hook Road, Epsom, Surrey,
KT19 8TH, United Kingdom"

Anyway they're about twenty minutes from me, so any trouble I'll be sure to round and have a stern word or two.

So yambo's in the UK? Why would you use our only true alais as a tax haven?

Why should I give the government part of my casino winnings they didn't front any of the bet......:feels-hot

Let brutus make magic with your money. I'm good. belize, russia or lichtenstein or whatever you want. I'm good to deal with fucking investigators. Trust me. The latest case in Finland ... few millions case dropped to 100.000 and main investigator from police is no longer police etc. small fun. Let brutus play magic!!!

Ok, actually I'm not looking for job, I'm doing this just for fun :)

offshore banking is not a criminal by its nature. the crime is the money which are managed. time to time you have to deal with criminal money if you manage offshore banking or something like this.

and the matter is HOW you deal with this problem. the easiest way - to close your eyes and forget about it. till IRS or FBI ask you about it.

another way - to check your clients and trust your clients. AND! KNOW YOUR CLIENTS (KYC).

we choose the last :)

Financial institution is not a repoting agency ( as they are in Finland )... so, if someone asks - no answer. Sadly there's only few places left in the world where the real privacy is available.

If you want to keep your financials private, it doesn't mean that you are a criminal. But yes... know your clients is the best way to go... but how you know your new clients. No way - you will learn about them same time they learn about you. Risky business ?!?

Brutus, yes, rather risky. During last 7 month of our busines we received more than 940 applications from new clients. And we opened only 570 accounts.

All other applications have been rejected due to some reasons.

Big clients we know personally or accept by references.

dude its only a mail drop or an apt for mail

they are from the Ukraine



that should tell u a thing or 2 :321GFY

yea thats because only 570 had the upfront fee to pay

or else you would have all 940:1orglaugh :1orglaugh

It's pretty simple if you are a US citizen. You can have bank accounts pretty much anywhere, there is nothing illegal about that.

However, as a US citizen you are supposed to pay taxes on all your income, in whatever proportion you owe after calculations.

Sorry, dude, what do you need from yambo.biz ? I think what is only black PR from you :BangBang:

:Graucho

What you should know about offshore banking? Don´t discuss
it on a public message board unless you talk about it in general.

You want to know things for your own business talk to your
laywer/accountant behind closed doors.

DynaMite
:2 cents: