Do explain, because I don't believe you actually know how banks work. Banks will flag up dubious transactions - uncommon large ones, frequent smaller ones, a sudden stop or start in transactions, etc. They've got big fraud (and money laundering) prevention teams on there, currently using machine learning to detect suspicious activity.
I mean there's bound to be laundering going on via banks, but it's risky.
Heard about one guy that tried to get his Bitcoin winnings onto his regular account, his bank wouldn't accept it because they couldn't verify its source. Of course, he managed to open up an account at another bank who accepted it without question, and transferring it to his main account from that bank was also done without question, so it's not exactly consistent.
>Heard about one guy that tried to get his Bitcoin winnings onto his regular account, his bank wouldn't accept it because they couldn't verify its source. Of course, he managed to open up an account at another bank who accepted it without question, and transferring it to his main account from that bank was also done without question, so it's not exactly consistent.
You nailed it here without noticing it: you just use the right bank(s) in the right countries, and then just shuffle and move money around.
I'm pretty sure there are organizations dedicated to set up these operations.
If he couldn't show the trace then no bank should've let him really: were I live, you have to show where fiat->crypto accused and how you got that fiat. Then you have to show how the crypto became worth more (that can just be a wallet address IN and wallet address OUT between the times it went from the fiat amount you started with until the time it became what you are trying to transfer to the bank). But that's all; few screenshots, even for large amounts. I guess if you are trying to send over more than a million, you might want to get some people to help you anyway. Also; always call your bank upfront to explain what will happen; that can prevent a freeze or reject if you got in ahead.
Many others have noted HSBC which actually created special cash delivery booths in Mexico but earlier this year Australian banks were caught laundering nearly $500million in illegal proceeds for Latin American cartels.
The biggest tax haven on earth is the United States, but they only serve you if you 1) are not american 2) are not citizen of the few countries they have tax treaties with.
I mean there's bound to be laundering going on via banks, but it's risky.
Heard about one guy that tried to get his Bitcoin winnings onto his regular account, his bank wouldn't accept it because they couldn't verify its source. Of course, he managed to open up an account at another bank who accepted it without question, and transferring it to his main account from that bank was also done without question, so it's not exactly consistent.