I want to send my friend money that he can cash and use without leaving a cash trail or ID trail that the government can track. At the same time, I want it to be safer than sending cash so that if it is lost, I can get a refund. Are there anything out there that can satisfy these parameters? I've looked into money orders and blank traveler's checks but I am not sure if they fufill these preferences.
2007-12-21 04:12:36 · 4 answers · asked by samxli 2 in Business & Finance ➔ Other - Business & Finance
I am not aiding a criminal or doing money laundering. This is just giving money to a friend who is paranoid of government. I am okay with the money trail leading to me. But I just don't want him to be on the trail if he cashes it or use it.
2007-12-21 04:27:53 · update #1
Money you give a friend is not income to him.
Unless he is getting welfare subject to asset limits, the government won't care that you gifted him money. (If he does not have an asset limit, you should not try to get him in trouble. Having to pay money back after you've already spent it is a nightmare.)
2007-12-21 04:18:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Cash equivalents are highly liquid items with a short maturity. Typical items that are considered cash equivalents include government bonds and corporate paper. Usually to be a cash equivalent there is a time limit on the maturity of bonds, usually 3 months. As such, CD's, restricted money market accounts, restricted cash (including sinking funds for bonds), and long term bonds are often not considered a cash equivalent, but depending on their expected maturity, may be considered a current asset.
2016-05-25 07:43:40 · answer #2 · answered by desirae 3 · 0⤊ 0⤋
If the government really wants to find him, they just put tabs on all their friends & family. Soon as you buy a cash equivalent, they will monitor what you do. If you send it to him by mail, they will open up the mail and see where its being sent. You transfer the money via bank account, they will trace it. You buy anything that looks like it can be x-fered to someone else, they will get you. Not only will they catch him, but they will arrest you for aiding and abetting a fugitive.
2007-12-21 04:22:56 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Money laundering rules require that the seller know who he sold the money order, etc. to.
You are contradicting yourself. If you want to be able to get a refund, there has to be a paper trail to prove that you bought the travelers' checks, etc.
2007-12-21 04:18:55 · answer #4 · answered by Ted 7 · 0⤊ 1⤋