Taking money out of the USA

[M Paquette]

Quote:

Originally Posted by anethum According to the following article: >>>No charges were placed, but officers seized the $40,977 as “currency forfeitable to the United States.” Assistant U.S. Attorney Gjon Juncaj is petitioning to have the cash forfeited to the government. Money Hidden in Bra and Girdle Seized by Customs Officers - ABC News

In unrelated news, the Detroit USCIS Field Office has announced that the office holiday party is back on for this year...

[veremchuka]

Quote:

Originally Posted by fh2000 So, OP, did the paper mention what happened to the woman, and her money? Did she get a fine but kept most of her money?

There was no mention what happened other than they discovered her attempting to "smuggle" (my term) the money. It was a small clip in the paper and I haven't seen any follow up.

[utrecht]

This is all governed by the Bank Secrecy Act of 1970. Doesn't it seem like after 44 years the amount needs to be raised from $10K?

[Onward]

Meanwhile back in Mexico...

How Not to Transport Your Gold Internationally: Jailed in Mexico | International Man

[dvalley]

^

The take away from that article for me was make sure to avoid countries that put the burden of proof on the accused rather than the accuser.

[mpeirce]

Watching Locked Up Abroad is rather eye opening.

Sure, many of the folks are just stupid (with a capital S), but some of the people they show aren't stupid and just get themselves into some really bad situations.

[LoneAspen]

If somebody is trying to get a large amount of cash out of the country (I'm talking hundreds of thousands, or millions, of dollars, not just a few thousand), why wouldn't they charter a private jet instead of going commercial?

Or, if they're really intent on going it alone, go buy a sailboat that's capable of ocean travel, learn to sail, and then pack it up and go by themselves?

For that matter, I never understood why somebody would go to elaborate extremes to transfer cash to another country, assuming they got the funds legally, and all taxes have been paid. Couldn't they just wire it and be done with it?

I guess all the schemes are mostly to evade taxes, hence all the scrutiny in the first place.

[NYEXPAT]

Quote:

Originally Posted by LoneAspen If somebody is trying to get a large amount of cash out of the country (I'm talking hundreds of thousands, or millions, of dollars, not just a few thousand), why wouldn't they charter a private jet instead of going commercial? Or, if they're really intent on going it alone, go buy a sailboat that's capable of ocean travel, learn to sail, and then pack it up and go by themselves? For that matter, I never understood why somebody would go to elaborate extremes to transfer cash to another country, assuming they got the funds legally, and all taxes have been paid. Couldn't they just wire it and be done with it? I guess all the schemes are mostly to evade taxes, hence all the scrutiny in the first place.

Ex-Wive's and lawyers come to mind! I always tell friends a properly planned divorce takes years of planning. You want no paper trail,safety and modest income or appreciation on your assets. Some guy's find SA ideal for real estate as there are no USA reporting requirements.