SkipCaptcha
250
edits
Changes
Jump to navigation
Jump to search
Talk:Money laundering (view source)
Revision as of 07:27, November 1, 2016
, 07:27, November 1, 2016How money laundering actually works.
==Washing money in the drug trade==
I have second-hand experience in this area, as I once knew a small-time drug dealer exclusively in weed. Funny enough, it wasn't drugs that connected us; rather, the fact that we both played Magic: the Gathering, yet he still told me plenty. Small-time drug dealers (<30k/year) such as him washed money via deposits and personal checks through legit friends in exchange for a 5% cut. That kept him out of the FDIC's business since he washed his money broadly and never anywhere near 10k at a time. Large drug dealers actually pay income taxes on it because the IRS tends not to ask questions if they get paid.
I have second-hand experience in this area, as I once knew a small-time drug dealer exclusively in weed. Funny enough, it wasn't drugs that connected us; rather, the fact that we both played Magic: the Gathering, yet he still told me plenty. Small-time drug dealers (<30k/year) such as him washed money via deposits and personal checks through legit friends in exchange for a 5% cut. That kept him out of the FDIC's business since he washed his money broadly and never anywhere near 10k at a time. Large drug dealers actually pay income taxes on it because the IRS tends not to ask questions if they get paid.