Dirty money

[Toyota70]

Remember that the high end and low end girls take cash only and in some cases gift cards for deposits. Rent can’t be paid with cards so girls want cash.

there’s a limit to how much a girl can have and put in a bank without being frizen out of the bank. A girl that is unemployed that puts thousands in the bank will cause flags in a bank account. Money gets stolen, money gets lost, so having a safe doesn’t mean any5ing since most girls live in condo or apartment and safes are easily carried. So the smarter girls have part time jobs for cover or register for an online class or build bullshit Etsy websites to sell things. Being a student and having proof of a job allows money to be out in without issue. But there’s a limit.


Most girls will put in a safe in their apartment or spend it since you can’t put it in investments. A local agency owner tried to put investments and her money is legally clean in the eyes of the law, but investment firms and companies won’t touch it. A high end girl with excess paper money and a bullshit consulting/accounting cover job can’t even get to invest in a franchise, but can do limited stocks. Escort money is considered dirty money so some girls with go with their boyfriends to have “solo” vacations and others go on hiatus to get their boob jobs fixed. Some cases the dumber girls buy designer bags with fantasies of flipping it for money after a while, but with so many fakes out there, other girls won’t buy it so they lose money. Going on vacation is actually smart since you can go with cash to a travel agent and use no money paper trail for the vacation.

Most should save it in a bank if they can since illness can occur. One gal got ill recently and her high end lifestyle is crashing. After a few months when guilt disappears, her clients will go elsewhere sadly.

 

[out4fun]

Cash is not illegal and it can be deposited. CRA may want their share, but that’s the price of legitimizing your earnings.
Cash is very spendable for living expenses so there is a fair bit of leeway as to how much needs to be deposited and accounted for.

 

[roadhog]

How about accounts at multiple institutions?

 

[legmann]

there’s a limit to how much a girl can have and put in a bank without being frizen out of the bank. A girl that is unemployed that puts thousands in the bank will cause flags in a bank account.

This is known to occur in the US. Are you sure this this is the case with Canadian institutions, or are you making suppositions?

You can deposit up to $10,000 in Canadian banks without the institution being required to report.

 

[Mr Deeds]

I'm trying to understand the point to this thread . Much of what your saying isn't factually correct. No disrespect but it sounds to me like you just feel the need to lecture

 

[luvyeah]

Can bitcoin or any other cryptocurrency help convert cash to other usable forms?

From my limited understanding, as soon as it goes through a Canadian bank there is the possibility the CRA will demand a cut and the only think you can do is pray, play the luck game and try to mitigate the amount transferred to not raise suspicion.

Hopefully discussion is allowed as I am sure none of us would be so evil to not pay our fair share! :encouragement:

 

[squeezer]

Remember that the high end and low end girls take cash only and in some cases gift cards for deposits. Rent can’t be paid with cards so girls want cash.

there’s a limit to how much a girl can have and put in a bank without being frizen out of the bank. A girl that is unemployed that puts thousands in the bank will cause flags in a bank account. Money gets stolen, money gets lost, so having a safe doesn’t mean any5ing since most girls live in condo or apartment and safes are easily carried. So the smarter girls have part time jobs for cover or register for an online class or build bullshit Etsy websites to sell things. Being a student and having proof of a job allows money to be out in without issue. But there’s a limit.


Most girls will put in a safe in their apartment or spend it since you can’t put it in investments. A local agency owner tried to put investments and her money is legally clean in the eyes of the law, but investment firms and companies won’t touch it. A high end girl with excess paper money and a bullshit consulting/accounting cover job can’t even get to invest in a franchise, but can do limited stocks. Escort money is considered dirty money so some girls with go with their boyfriends to have “solo” vacations and others go on hiatus to get their boob jobs fixed. Some cases the dumber girls buy designer bags with fantasies of flipping it for money after a while, but with so many fakes out there, other girls won’t buy it so they lose money. Going on vacation is actually smart since you can go with cash to a travel agent and use no money paper trail for the vacation.

Most should save it in a bank if they can since illness can occur. One gal got ill recently and her high end lifestyle is crashing. After a few months when guilt disappears, her clients will go elsewhere sadly.

Cousin, you paint a grim picture, a very sad state of affairs.

 

[oil&gas]

I'm trying to understand the point to this thread . Much of what your saying isn't factually correct. No disrespect but it sounds to me like you just feel the need to lecture

I got to know quite a few MPAs from the past who
had no trouble saving their earnings in a bank
account. Some actually did a good job with their
finance and invested their hard eared money wisely,
The OP worries too much about the ladies in the industry.

 

[mandrill]

This is known to occur in the US. Are you sure this this is the case with Canadian institutions, or are you making suppositions?

You can deposit up to $10,000 in Canadian banks without the institution being required to report.

$7,500.00.

 

[Sophia Sinclair]

None of these things are problems if you're smart!

Some years ago, in my Mississauga days, a client asked for advice for a popular young lady at that time. I told him what my accountant/small business consultant told me. When later asked how things worked out for her he commented that the tips given were great but the execution of them was not.

 

[benstt]

The banks are obliged to watch for money laundering signs, and report suspicious transactions. Not sure if there is a set limit anymore, but the emphasis is on Know Your Client.

So, if you are working in a legal cash business, perhaps just tell them what you do so they know you are not money laundering. And pay your taxes.

 

[farquhar]

$7,500.00.

No Oagre; it's $10,000

https://www.fintrac-canafe.gc.ca/reporting-declaration/info/rptLCTR-eng

The $10,000 has to be deposited in one transaction; or several over the course of 24 hours

Banks are required to follow Know Your Client rules and ascertain a client's Source of Wealth; and they do file Suspicious Transaction Reports internally to their own AML Departments, without the knowledge of the client; I had to file several of those myself when I worked for Banks

Stick to being a lawyer! And I'll be the TERB authority on Retail Banking! :yo:

 

[farquhar]

The banks are obliged to watch for money laundering signs, and report suspicious transactions. Not sure if there is a set limit anymore, but the emphasis is on Know Your Client.

So, if you are working in a legal cash business, perhaps just tell them what you do so they know you are not money laundering. And pay your taxes.

When I worked as a Teller long ago, I had a few clients who had cash businesses who put cash in their Safety Deposit Boxes.

In the Terms of the Safety Deposit Box Lease, the Banks expressly forbid this; they are allowed to force you to open the box in their presence in order to ensure compliance; and if the CRA serves the Bank with an order to drill your box open, they will.

 

[farquhar]

Remember that the high end and low end girls take cash only and in some cases gift cards for deposits. Rent can’t be paid with cards so girls want cash.

there’s a limit to how much a girl can have and put in a bank without being frizen out of the bank. A girl that is unemployed that puts thousands in the bank will cause flags in a bank account. Money gets stolen, money gets lost, so having a safe doesn’t mean any5ing since most girls live in condo or apartment and safes are easily carried. So the smarter girls have part time jobs for cover or register for an online class or build bullshit Etsy websites to sell things. Being a student and having proof of a job allows money to be out in without issue. But there’s a limit.


Most girls will put in a safe in their apartment or spend it since you can’t put it in investments. A local agency owner tried to put investments and her money is legally clean in the eyes of the law, but investment firms and companies won’t touch it. A high end girl with excess paper money and a bullshit consulting/accounting cover job can’t even get to invest in a franchise, but can do limited stocks. Escort money is considered dirty money so some girls with go with their boyfriends to have “solo” vacations and others go on hiatus to get their boob jobs fixed. Some cases the dumber girls buy designer bags with fantasies of flipping it for money after a while, but with so many fakes out there, other girls won’t buy it so they lose money. Going on vacation is actually smart since you can go with cash to a travel agent and use no money paper trail for the vacation.

Most should save it in a bank if they can since illness can occur. One gal got ill recently and her high end lifestyle is crashing. After a few months when guilt disappears, her clients will go elsewhere sadly.

This is a bunch of horseshit. Escort money is not "dirty money." It's completely legal to sell sexual services - it's just illegal to buy said services (thank you Harper Conservatives); and even if escort money was "dirty money", the CRA expects all income to be declared, regardless of legality.

Forget we are on TERB for a second; you knuckleheads do realize that the Terms and Conditions of the Bank allow the Bank to Freeze accounts or Hold Funds at their own discretion, right?

Hell, BMO just amended their Holds Fund Policy; as of February 1, BMO can hold a cheque up to 90 fucking business days if they decide for some reason they don't like you or they don't like the cheque you gave them; and if you're Indigenous and try to open a Bank account for your Granddaughter in Vancouver, you'll get hauled off in handcuffs by the Police.

 

[fall]

Remember that the high end and low end girls take cash only and in some cases gift cards for deposits. Rent can’t be paid with cards so girls want cash.

there’s a limit to how much a girl can have and put in a bank without being frizen out of the bank. A girl that is unemployed that puts thousands in the bank will cause flags in a bank account. Money gets stolen, money gets lost, so having a safe doesn’t mean any5ing since most girls live in condo or apartment and safes are easily carried. So the smarter girls have part time jobs for cover or register for an online class or build bullshit Etsy websites to sell things. Being a student and having proof of a job allows money to be out in without issue. But there’s a limit.


Most girls will put in a safe in their apartment or spend it since you can’t put it in investments. A local agency owner tried to put investments and her money is legally clean in the eyes of the law, but investment firms and companies won’t touch it. A high end girl with excess paper money and a bullshit consulting/accounting cover job can’t even get to invest in a franchise, but can do limited stocks. Escort money is considered dirty money so some girls with go with their boyfriends to have “solo” vacations and others go on hiatus to get their boob jobs fixed. Some cases the dumber girls buy designer bags with fantasies of flipping it for money after a while, but with so many fakes out there, other girls won’t buy it so they lose money. Going on vacation is actually smart since you can go with cash to a travel agent and use no money paper trail for the vacation.

Most should save it in a bank if they can since illness can occur. One gal got ill recently and her high end lifestyle is crashing. After a few months when guilt disappears, her clients will go elsewhere sadly.

What a BS. The reason it is "dirty money" is not because it is from prostitution, it is because no taxes were paid from them. Just declare it in tax returns (even explicitly as money from prostitution services), pay taxes, and do whatever you want with them. They are clean money.

Of course, since it is already cash on hands, girls do not want to pay 30% average in taxes. So, it may create a problem if there is too much money. Simple solution: physical gold or just keep it as cash in a safe (not at home, at safety deposit box in a bank). Yes, the loss is about 2-3% a year due to inflation, so, if girls want to save for retirement it may be a good idea to declare some of them and pay taxes.

 

[farquhar]

Of course, since it is already cash on hands, girls do not want to pay 30% average in taxes. So, it may create a problem if there is too much money. Simple solution: physical gold or just keep it as cash in a safe (not at home, at safety deposit box in a bank). Yes, the loss is about 2-3% a year due to inflation, so, if girls want to save for retirement it may be a good idea to declare some of them and pay taxes.

And as I said, this is not permitted per the Terms of the Lease Agreement; now, whether or not Banks actually enforce this rule is subject to debate. If the CRA thinks you are hiding income and they know you have a Safety Deposit Box, they can force the Bank to drill it open (at your expense, of course).

Since I have nothing better to do; I opened a Safety Deposit Box at CIBC this week, and I'll quote verbatim from their Lease agreement:

Use/Contents: I will not use the Box for any purpose other than the storing of documents and property subject to the following restrictions: I will not deposit in the Box any bank notes or coins in any currency whatsoever that have been put into circulation for use in day-to-day transactions, precious metals in an amount greater than 20 ounces total per precious metal per customer, regardless of the form (i.e. bullion or coin)....I will let you inspect the contents of the Box, in my presence, to satisfy yourself that I have complied with this condition.

EDIT: Physical currency is forbidden. You may store a 20 ounce gold bar; silver bar; palladium bar.

 

[mandrill]

No Oagre; it's $10,000

https://www.fintrac-canafe.gc.ca/reporting-declaration/info/rptLCTR-eng

The $10,000 has to be deposited in one transaction; or several over the course of 24 hours

Banks are required to follow Know Your Client rules and ascertain a client's Source of Wealth; and they do file Suspicious Transaction Reports internally to their own AML Departments, without the knowledge of the client; I had to file several of those myself when I worked for Banks

Stick to being a lawyer! And I'll be the TERB authority on Retail Banking! :yo:

Caught me out. It's $7,500 for lawyers accepting cash in payment of fees.

If a bank was advised that by a girl that she was depositing large amounts of cash because she worked as an escort, would they react adversely?

Most girls I have known well enough to chat about this with assumed that the bank would screw with her banking services, if they knew.

 

[fall]

And as I said, this is not permitted per the Terms of the Lease Agreement; now, whether or not Banks actually enforce this rule is subject to debate. If the CRA thinks you are hiding income and they know you have a Safety Deposit Box, they can force the Bank to drill it open (at your expense, of course).

Since I have nothing better to do; I opened a Safety Deposit Box at CIBC this week, and I'll quote verbatim from their Lease agreement:



EDIT: Physical currency is forbidden. You may store a 20 ounce gold bar; silver bar; palladium bar.

Well if you break the law (by not paying taxes) - of cause there is a risk you get caught. With respect to currency at safety deposit boxes: well, store USD or Euro, not Canadian Dollars. And if a girl earns so much that she can fill safety deposit boxes with 20oz gold at all major Canadian banks - she can easily pay taxes and still comfortably retire in a few years. IMHO, this conversation moved from "what to do" to very improbable theoretical scenarios.

 

[fall]

Caught me out. It's $7,500 for lawyers accepting cash in payment of fees.

If a bank was advised that by a girl that she was depositing large amounts of cash because she worked as an escort, would they react adversely?

Most girls I have known well enough to chat about this with assumed that the bank would screw with her banking services, if they knew.

Why? They may get a dirty look from the clerk, but if they pay taxes - this is the extend of it. My guess, most girls in escort business lack proper education.

 

[farquhar]

Caught me out. It's $7,500 for lawyers accepting cash in payment of fees.

If a bank was advised that by a girl that she was depositing large amounts of cash because she worked as an escort, would they react adversely?

Most girls I have known well enough to chat about this with assumed that the bank would screw with her banking services, if they knew.

No; the Bank is required to ascertain Employment for Know Your Client purposes; I've told girls just to say they are bartender, hairdresser, or waitress; jobs that pay in cash and where clients tip in cash.

As long as girl is not applying for a Loan, Bank doesn't need to verify Employment or Source of Income.

If anything, girl should be depositing cash periodically in the ATM (as most ATMs now are Envelope Free and there is no Hold Funds on Cash Deposits); this is safer then keeping the cash in their apartment or on person.

As long as girl doesn't deposit more than $10,000 at once; or $10,000 over 24 hours; Bank has no need to file Large Cash Transaction Report.

The only time suspicion may be aroused is if girl were to deposit large sums of cash and then immediately ask for Bank Draft payable to themselves; as that could be interpreted as Money Laundering.