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| -Lurid Crime Tales- |
| Don't hide money in Switzerland, Luxembourg, Liechtenstein and Monaco any more! |
| 2014-09-24 |
| A decision by banks in Switzerland, Luxembourg, Liechtenstein and Monaco to water down the age-old rules of secrecy governing accounts held by foreigners is the reason. Under pressure from the United States and the European Union, these countries are warning their customers that if they don't declare their bank accounts to the taxman in the countries where they live, they threaten to do it for them. That, or issue a cheque for the amount they hold followed by the closure of their account -- but a cheque is no good for individuals who would have to use it to open another account, thus flagging up to fiscal authorities that which they want to hide in the first place. As a result, people who wouldn't dream of breaking the law in any other respect are now playing a high-stakes game of chance moving their assets in cash. |
| Posted by:3dc |
| #9 I've been to Liechtenstein as well. I recall the country to be a largish cow pasture. |
| Posted by: phil_b 2014-09-24 19:38 |
| #8 Sorry: I meant prince of Liechtenstein. He's a prince. |
| Posted by: Secret Master 2014-09-24 16:33 |
| #7 I honestly thought the Duke of Liechtenstein was made of sterner stuff. (Really. I've been there.) |
| Posted by: Secret Master 2014-09-24 16:31 |
| #6 I should have added, that finding the $10M created a moral dilemma for the couple--To report or not to report. |
| Posted by: JohnQC 2014-09-24 16:30 |
| #5 Not a worry--no large sums of money in the Cayman Islands or the various countries listed. BP, sometime ago, a couple was out walking their dog in California and found $10M in gold coins in a tree trunk. They reported their good fortune. However, they may have to give it to the U.S. Mint as the U.S. Mint said it belongs to them. The U.S. Mint claims it was stolen from them--one of among many theories. Alas. Origins of $10 in gold found in a tree. |
| Posted by: JohnQC 2014-09-24 16:28 |
| #4 Governments are the worst type of thieves, they expect you to be thankful about their extortion from you. |
| Posted by: Bright Pebbles 2014-09-24 13:39 |
| #3 Jon Corzine is far above worrying about matters like these. |
| Posted by: Anguper Hupomosing9418 2014-09-24 10:53 |
| #2 Of course if you simply buy a large corporation and donate enough money to someone's campaign fund, your movement of your 'corporate' money overseas is OK. |
| Posted by: Procopius2k 2014-09-24 10:08 |
| #1 Rantburg U. tip of the day: Avoid large bank account withdrawals closely followed by foreign air travel. |
| Posted by: Besoeker 2014-09-24 09:01 |