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Old December 7, 2012, 12:17 PM
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Kabir Kabir is offline
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Join Date: September 3, 2006
Location: Mississauga, Ontario
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Originally Posted by layperson
Once again you are forgetting that money laundering has to do more with illegally earned money.

Let me dumb it down further what I advised zeeshan: Person A pays person B money in Bangladesh. This transaction cannot be deemed illegal unless the sources of the money is illegal. I hope you agree this much.

Person B pays money to person A in USA. This transaction in itself is not illegal unless the money is earned illegally by person B. If the source of the money is legal then these two transactions cannot be deemed illegal from any angle. I am not a law expert but common sense says it cannot be.

These two transactions are not exactly transferring funds from one country to another. If you can show me that any government would deem any of these transactions as illegal then I would agree that it is money laundering provided the funds were earned illegally in the first place.
Sure, thanks for dumbing it down - I feel a lot smarter now. You've made your point clear. It's not money laundering - it's illegal transfer of money. Happy?

Originally Posted by ammark
good thread, but only one answer: There is no legal way to take out the whole amount of money from Bangladesh

Bangladesh Bank does not such want such a huge amount of Money to leave Bangladesh, so they have all sorts of restrictions in place.
Hence it's illegal.

What most people in BD don't get is, using loopholes in our laws doesn't necessarily make something "legal". I hate it when the biz folks say "I didn't do anything illegal, I just used the loopholes in our legal system". What effing difference does that make?

Originally Posted by layperson
@shuziburo and Tiger eye: I work in a bank so I am well are of these. Any transactions over $10k are reported but not all transactions are investigated. They are investigated if it is suspicious.
Correction - you don't work at a bank. You work in the insurance side of a financial institution. Hence your source is bhua.
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