So lets say someone has an offshore account...
 

And he uses his offshore ATM card to withdraw, say, 10 000$ from the city he's living in...


can that cause him trouble? is it even traceable?

This is all hypothetical right? ;)

absolutely, I am in NO way speaking of myself or someone close to me ... completely hypothetical :thumbsup

lol :thumbsup

Last I heard, there is nothing wrong with drawing money from an ATM whether the account is onshore or offshore.

There is an offense if this hypothetical example is related to tax evasion, but I'm sure that's not the case :)

Seriously.... very amateur.

$10k from an ATM a day, with a single card? That's some serious withdrawing. Does the account have an unlimited ATM limit?

In 1 day or over a period of time? Is it even possible to get that much from an atm machine at 1 time?

it IS possible, and many offshore ATMs do NOT have a limit, meaning you can draw up to hundreds of thousands a day in theory.

nothing I would know of personally though.

But im sure most ATM machines have a limit.

You can take out 10K or more, does not matter. When you fill your taxes put what ever you pulled from that ATM as your income and you are fine

Jay

The level of the card is not too relevant - that's not unusual. This stuff can be organised legally, but as it stands, the hypothetical example is traceable - no problem.

Stupid ideas to do with offshore cause nothing but problems - offshore was never designed as a tax scam.

its tax invasion from the moment you won't declare it as income. Is it traceable? Yes it is in many countries.

hypothetically speaking, HOW is it traceable?

and in NO way do I evade my taxes for all of you wondering, I declare every penny I bring into the country

I am just asking for curiosity reasons :thumbsup

evasion.

but yeah, tax men can invade your ass over it :1orglaugh

the maximum you can take out from an ATM machine in one session in Canada is 1000$

if you wanted to take out 10,000$ you would have to start 10 different sessions with the ATM machine

I know of ATM machines that can dispense up to 2000$ per session

Card transactions are almost the same as checks - they are recorded both onshore and offshore. There are also other controls which banks use to monitor and account to banking regulators.

orly? must be a different branch, i had that limit with the ATM's in CIBC

but yeah, if you go there and withdraw a lot of money, or lets say 1000$ on a daily basis and you don't have an account with them, you'll probably be flagged, picture taken and investigated :Oh crap

Pay your taxes young man or go to jail!

:winkwink: They keep trying to bullshit and assume everyone, including banks, are stupid.

PS.. Tho, some are stupid, but not that stupid ;-)

Ofcourse that's not possible. Would be a bit too simple.

I have given up on tax evasion. It's not possible unless you move to the country itself. But it's not worth it.

I've just put my mind on trying to earn 150% of what I earn now and beat the taxes, sort of, hehe.

If the name on the card and the name of the account holder is not his own, and the funding of the account cannot be traced back to him, he's safe.

Chances of getting busted are slim, but if you do get busted you are fucked...
If go out of your way to cheat on taxes by setting up offshore accounts, getting atm cards with fake names, etc, I would imagine you are looking at getting your stuff seized and spending a few years in jail...

You might as well run some phishing scam or something, you will gain more, and risk less time in jail :1orglaugh

I know people have used multiple pseudo names on epassporte cards to withdraw 10's even 100's of thousands through ATM's. If you do too much from the one card number they'll take the effort to send out investigators to get ATM video footage, but for 10k you shouldn't have a problem, at least I can say in Australia you absolutely wouldn't have a problem, but I don't know the situation in Canada.

Not exactly true. I've taken out over $1000 CDN at one time, though I'm not sure how much more would have been allowed.

No one said the names have to be fake.

very interesting :warning

when the cops come knocking on your door, have a good story to tell them

you're kinda contradicting yourself

Does epass work in Japan in Atms? lol :winkwink:

wrong.


and bdjuf just dont leave the country with that money

oh and if they find out you have 10grand that the government doesnt know about, then you might face a fine up to 500 grand from the fine assholes at fintrac



assholes!!
http://www.fintrac.gc.ca/images/splash20.jpg

you should speak to me bro ;)

You're either going to have a lot of cash or be getting fucked up the ass by bubba, So for you it's a win win situation:)

of course its traceable. do felony tax evasion charges, having all your property siezed and enough fines and penalties to last you the rest of your life sound like its worth the risk? people get busted all the time withdrawing money with a card without their name on it because they think they are geniuses. a few years ago, about 1500 people got busted at once.

i wouldnt chance that shit

bdjuf, okay, hypothetically here... I have not a single ounce of experience with any offshore money.

Hypo... basically, you are limited on most ATMs to about $500 at a shot. So right away, if you are going to pull out 10k, you are going to be doing 20 transactions in a row. That by itself would likely light up some security somewhere in that bank's system, even if they are not your bank. So bad idea.

If someone needed to get that type of money, they would be wise to stagger the withdrawls across a number of machines, banks, times, and places so that the transactions don't all occur together, never show up on any one transaction list as a total amount, and generally so as to blend into the background noise.

Finally, hypothetically speaking, it would be much wiser to make an ongoing plan to withdraw $2000 or so a day total from about 5 different machines, over a 5 to 7 day period to accomplish the same results. That would really blend those transactions into the noise. That person would probably want to use different machines at different times to truly disguise all transactions.

Of course, knowing that the hypothetical person is a good and honest Canadian citizen and already declared the money that is offshore as income in the year that the money was made, there are no real issues, right?

Get it in a fake name and avoid high atm withdrawals and they'll have a hard time finding you. Plus remember to have whois privacy protection on all your domain names with affiliate links on them as the tax people usually check those stuff.

Believe me - Whois "privacy" is for the public :) There is no problem for any agency breaking that barrier.

Damn.. this thread feels too "illegal" and ripe for a hit *lol* There are legitimate uses of offshores without the old plastic cards games - every revenue agency on the planet knows them.

wouldn't work, for the US at least.

Whenever you buy something using an offshore card or withdraw money using an ATM that information is forwarded over to the IRS. If you're making a lot of purchases over a large span of time that's not indicative of someone that's just visiting a "red" flag is raised and an agent takes a look over your case. Having a fake name won't help much either, since they can snap up ATM camera logs like it's nothing.

Sleep well at night and just pay your taxes..

This thread is funny :)

Bloody hilarous fuzebox *lol*

Great place to seek advice!!

will im in shit if it is

i use my epassporte card all the time here

Bank ATM cannot know who is owner of card and from where is owner of card.Shortly,they cant report to tax service atm withdraws no matter how big they are.

Be careful, there have been incidents in Sweden and Denmark regarding this, people getting nailed, and I doubt Canada is very different.

Although your name sometimes appears on an atm machine screen, this information is NEVER stored anyware. A creditcard transaction consits of just numbers, and can never be traced back to you. If you have a good bank they will NEVER give out any personal information, unless you get accused of terrorism, cp, weapons, drugs, that sort of stuff.

Most machines do not have a limit. They do have a limit, like 1000$ each time, but if you do it 10 times, it will be no problem to get $10K out of a single machine.

These people used their cards in shops, where the shop owners write down the id of the buyer. In alot of EU countries they ask for a photo ID if you pay by creditcard and they write down your ID numbers. So it's not smart to use offshore cards in stores. With ATMs it's not a problem.

I have read about that they got information from ATMs also, but I think this is just to scare people.

you are contradicting what everybody else said in this thread!

:1orglaugh :1orglaugh :1orglaugh :1orglaugh

uhm... yeah.

wrong.

funny.

but wrong.