Banks cannot be trusted 100% because they share their information with government and credit reference agencies.
Do you know any anonymous bank accounts / investments(possibly offshore) ?
2007-02-18 01:08:57 · 17 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
a safe
2007-02-18 01:28:30 · answer #1 · answered by Best answer 2 · 1⤊ 0⤋
Unless you need to launder drug money, your best bet is to stay with US banks. They are the safest, your insured up to 100k per account, and you won't have any legal problems. If your worried about governments or banks sharing information, then the only truly "safe" place would be to keep it under the mattress. Keep in mind that there is a record of nearly every financial transaction you make, everywhere you surf on the internet, doctors you see, prescription and pharmacies you use, phone calls etc. I'm definately not saying that somebody is watching you all the time, cause there not. But simply that there is a record of everything you do that could be retrieved if need be. The potential legal problems you could encounter from hiding money, and hiding income made on that money, are very substantial including prison time. Definately not worth the risk. It is not illegal to have offshore accounts, but it is illegal if you don't tell the IRS about it.
2007-02-18 01:27:00 · answer #2 · answered by mike9626 3 · 0⤊ 0⤋
Even Swiss bank accounts can be accessed with a court order.
My guess is that you have gotten yourself into some debt and are now trying to hide whatever money you do have from the people that are trying to collect it from you. You'll spend a whole lot more in money and effort trying to run around opening foreign bank accounts than it's going to cost you to just pay the piper and start paying off your debt.
No bank can give out deposit information without a court order. It's not like someone can call them up and ask how much you have on deposit and actually get an answer. However, if you have a judgment against you and the court knows you have a bank account, they will garnish it to collect the judgment. That is legal and should be.
As long as they don't know what bank you've deposited the money in, you're probably safe. But if you DO have a judgment against you and the court finds out you're trying to hide money in the Caymans, you might find yourself in more trouble than you want to be in.
2007-02-18 01:23:34 · answer #3 · answered by Faye H 6 · 1⤊ 0⤋
A lot foreign banks will disclose the names of US citizens. You will need to check.
US citizens with foreign banks accounts that have $10,000 or more at any time during the year need to disclose this to the US Treasury by filing form TD F90.22-1. Failure to file this form may subject you to a fine of $500,000 and 5 years in jail. You can find the form at www.irs.gov.
2007-02-18 02:01:23 · answer #4 · answered by Melissa O 2 · 0⤊ 0⤋
My linen closet would be the safest place and available if I can take an occasional swim in it :) If I received $20M today, I would put it in a savings account. If I owned $20M today, I think a large part of it would be invested in real estate and half a million would be in my Forex account to actively trade with. I would not put anything in gold or gems because I do not consider them safe investments.
2016-05-24 01:52:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Sounds like this is illegal funds to me, hide it with a very trusted friend or under your mattress as our grandparents used to do. Money Laundering rules are very specific, if you try to bank or invest they will want to know where your cash emanated from and so would any mortgage provider if you bought a property.
Be Careful.
2007-02-18 09:47:53 · answer #6 · answered by RUTH M 3 · 0⤊ 0⤋
Buy up land, they ain't making anymore land. Invest the money in property. You can be taxed over, and over again for the same money.. So i would either spend the money, or I would buy land. Don't chance it by getting into trouble with the IRS
2007-02-18 02:34:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Someone you trust can invest for you...like mom or pop or a trusted sister.... If you do not have any one that you trust, I am afraid you can fore go the interest and buy a vault.
2007-02-21 01:01:27 · answer #8 · answered by Kimberlee Ann 5 · 0⤊ 0⤋
a swiss bank account
2007-02-18 01:11:10 · answer #9 · answered by Anonymous · 0⤊ 0⤋
everyone knows about under the matress and the floorboards thing.
i would use a safe, or get someone TRUSTED to poen an account in their name for me to use.
2007-02-18 11:09:29 · answer #10 · answered by Anonymous · 0⤊ 0⤋
i have to agree with tyler durden...swiss bank, the bank of robbers. but its not politically correct to say that
2007-02-18 01:13:29 · answer #11 · answered by xapao 5 · 0⤊ 0⤋