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ELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on? (lemmy.world)
submitted 2 weeks ago by Don_Dickle@lemmy.world to c/explainlikeimfive@lemmy.world
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[-] ultranaut@lemmy.world 50 points 2 weeks ago

There's law firms that specialize in this sort of thing. If you remember the Panama Papers from a few years ago, those were internal documents from one of these firms. Banks don't catch on because they like making money and pretending its not happening is often more profitable than calling the cops.

[-] fistac0rpse@fedia.io 5 points 2 weeks ago

"a few years ago" being 2016

[-] CrayonMaster@midwest.social 15 points 2 weeks ago

..too old or too recent? I'd describe anything from 3 to 10 years ago that way

[-] XTL@sopuli.xyz 2 points 2 weeks ago

Doesn't have to be either. Someone just had a more specific number.

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this post was submitted on 20 Oct 2024
112 points (97.5% liked)

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