Where do full time escorts put their money?

[kherg007]

When I've been asked by ladies for advice, the simplest is "the rule of thirds".
1/3rd of your cash stash away in a bank or CD or something that you never touch or look at except to deposit into it.
1/3rd for your living expenses, and
1/3rd to enjoy life.
Maintain that discipline and you'll have decent nest egg shortly. As any independent contractor knows, you cannot count on this fast money being always there, as it can change super fast. Thus protect yourself.

 

[Samranchoi]

As long as the women have the drive and attitude to make a lot of money while in the business and most importantly, have the discipline to not “waste”!the tens of thousands of dollars they receive each month, yes each month, they have the ability to set themselves up for life. Have known more than a few who were making $10 to $15,000/week (their cut) consistently over a number of years. Some quit the business in great situations and others, not so much.

They are not much different than others who make a lot of money though. In my line of work, I see a lot of high income earners who have nothing to show but many outstanding loans and credit card balances even when they make hundreds of thousands of dollars.

 

[smart_alek]

I've heard banks will report large regular cash deposits to the cra. Some full timers must haul some pretty good cash. Some Asians work 6 days a week for years. If they were trafficked I don't think they'd stay for years.

Just wondering out loud.

Many have accountants and invest

 

[smart_alek]

This assumes that Escorts don't report their income to the CRA. Maybe not all of it but I suspect many do at a similar level to waiters/waitresses.

My guess is that the smarter (of those who's job it is, not the I-need-spending-money-ones) ones do. CERB is a VERY good example of the benefits of claiming income. Pension plan and other government benefits are available if one claims as income. RRSPs. Loans might be required in the future which requires you to show good income over a period of time. No doubt there is a magic breakpoint where past that, it doesn't make economic sense but I don't know where that is.

If you get audited by the CRA, ALL your records are open, including deposits in all amounts so the debate about small versus large deposits is pointless - in this case - if you submit taxes of any kind.

Yes, it's important to declare income in order to get things like loans and credit

 

[Not getting younger]

A lot of speculation. Interesting thread

A lot of speculation with respect to why/how banks, brokerages, pretty much anyone that accepts deposits, trades securities flags different transaction too. Thus far, no one is right though one is close. But even then…still off by quite a bit.

lol people just don’t realize…
There is no privacy anymore

 

[Not getting younger]

Many have accountants and invest

So?
you think your investments aren’t potentially flagged???
Lol

 

[Not getting younger]

I’ll help everyone out a bit..it’s not about you and you trying to cheat the CRA out of pocket change…

Just below there’s 30 year debate about gun control. And the increases in gang related shootings. These days we have gang and gun task forces. Gangs also are in the businesses of human trafficking. So that poster is partly right.
…
But what’s it’s really all about is
Anti money laundering and anti terrorist financing……

and for that it’s worth, as someone who could do stuff, trade securities, bonds, various money market instruments, options, gold, currency, silver, futures and far more complex structured products and derivatives, open accounts, go into accounts change things, like names. Or prices “stock” was bought or sold at, make journal entries, move small and large amounts of money..across Canada, across the world….How fast so many have forgotten 9/11

I was subject to 6 figure fines and serious time in jail. If I didn’t report something just suspicious.

If some think they are as smart at “hiding/disguising transactions. Lol you got nothing on the mafia, gangs and terrorist.

And they are watching…

Financial Transactions and Reports Analysis Centre of Canada

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada's financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor.

fintrac-canafe.canada.ca

see also

Parliamentary Committee Notes: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) Mandate

Briefing materials

www.publicsafety.gc.ca

 

[black booty lover]

Another thing many will do is rack up their credit cards, and they pay off their credit cards with cash at the bank machine.

 

[Not getting younger]

Another thing many will do is rack up their credit cards, and they pay off their credit cards with cash at the bank machine.

watched.
Technically smurfing. Using small transactions.Hence the name “smurf”.

 

[Not getting younger]

Basically people. If you can think of it…what you think terrorist aren’t miles ahead of you???Therefore those who are watching, also likewise not miles ahead of you?

 

[Jenesis]

Just pay for everything on your Credit Card and pay your Credit Card with Cash through the ATM. Banks don’t record the cash as a deposit like they do with a bank account. You are making a payment, not a deposit.

Spending locations are unlimited and no worries about having to much cash.

Another thing many will do is rack up their credit cards, and they pay off their credit cards with cash at the bank machine.

Exactly.

 

[Not getting younger]

Just pay for everything on your Credit Card and pay your Credit Card with Cash through the ATM. Banks don’t record the cash as a deposit like they do with a bank account. You are making a payment, not a deposit.

Spending locations are unlimited and no worries about having to much cash.
Exactly.

If you say so. sure.

FINTRAC releases key characteristics of illicit underground banking through unregistered money services businesses

FINTRAC has published a new Sectoral and Geographic Advisory that provides key characteristics of illicit underground banking through unregistered money services businesses in Canada.

fintrac-canafe.canada.ca

• Placement involves placing the proceeds of crime in the financial system.
• Layering involves converting the proceeds of crime into another form and creating complex layers of financial transactions to disguise the audit trail and the source and ownership of funds. This stage may involve transactions such as the buying and selling of stocks, commodities or property.
• Integration involves placing the laundered proceeds back in the economy to create the perception of legiti

https://lah.elearningontario.ca/CMS/public/exported_courses/CLN4U/exported/CLN4UU5/CLN4UU5A5/_teacher/1-eng.pdf

Canada’s financial intelligence agency highlights criminal risks of underground banking

In a new advisory on the risks of underground banking, Canada’s financial intelligence agency says everyone from students to seniors could be duped into helping disguise shady cash through such services

www.theglobeandmail.com

FINTRAC Publishes New Operational Alert to Help Businesses Identify Terrorist Activity Financing Indicators

On December 15, 2022, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) published an Operational Alert that lists terrorist activity financing indicators concerning domestic and international terrorist groups. Specifically aimed at businesses subject to the Proceeds of...

complyadvantage.com

Do I need to continue?

 

[Jenesis]

If you say so. sure.

FINTRAC releases key characteristics of illicit underground banking through unregistered money services businesses

FINTRAC has published a new Sectoral and Geographic Advisory that provides key characteristics of illicit underground banking through unregistered money services businesses in Canada.

fintrac-canafe.canada.ca

https://lah.elearningontario.ca/CMS/public/exported_courses/CLN4U/exported/CLN4UU5/CLN4UU5A5/_teacher/1-eng.pdf

Canada’s financial intelligence agency highlights criminal risks of underground banking

In a new advisory on the risks of underground banking, Canada’s financial intelligence agency says everyone from students to seniors could be duped into helping disguise shady cash through such services

www.theglobeandmail.com

FINTRAC Publishes New Operational Alert to Help Businesses Identify Terrorist Activity Financing Indicators

On December 15, 2022, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) published an Operational Alert that lists terrorist activity financing indicators concerning domestic and international terrorist groups. Specifically aimed at businesses subject to the Proceeds of...

complyadvantage.com

Do I need to continue?

Dude - I am not reading through all that at 7:30am. LOL.

From my understanding this works. You are using your credit for regular stuff and paying it off. I’m not talking spending 100k here. I’m talking regular monthly use. You are not going to get busted by the bank for spending a couple grand a month on regular items and paying them off. The bank has to do the reporting and it is just regular use.

However / please quote a section in all that writing that says credit cards can’t be used and are reported. I have no problem being wrong but I don’t think I am. Things are always possible but reality can be very different. So yeah / maybe it can all be reported but what is the likelihood. Clients can get busted for hiring escorts but in reality - how often does it happen?

 

[Not getting younger]

No problem..
Coles notes. And over simplified

The world changed drastically following 9/11

Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) - Topics

The difference is. Intelligence agencies aren’t looking for you.

the problem is…”they” look like you. They can be your neighbors, any of us.

https://www.cbc.ca/amp/1.715266

And if anyone thinks you are smarter than organized crime, terrorist and those watching and looking for them…well don’t know what to say.

 

[Jenesis]

No problem..
Coles notes. And over simplified

The world changed drastically following 9/11

Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) - Topics

The the difference. Intelligence agencies aren’t looking for you.

the problem is…”they” look like you.

But they don’t. That is my point. I’m not doing this because I claim my money but I know many escorts who do. They pay their groceries, bills, do some shopping, buy shit from Amazon. It is just regular shit and a regular payment at the end of the month.

No agency is concerned about that.

Again, I get what you are saying and that is the “legal” way therefore you are probably right but the likelihood is so small….

 

[Not getting younger]

Again. It’s way too over simplified.want to help ensure you get “flagged” Start paying off Visa cards with cash.

“Cash does nothing for no-one” whether under mattresses, in safety deposit boxes, until it’s laundered. Clean…and while there are many ways do that (smurfing is but one). You can be sure, those watching, those with computers systems and more…know them all too.

there is no privacy anymore Jenesis.
Or would you rather another 9/11

 

[SchlongConery]

Funny reading this thread. All us guys are just so fucking smart and know everything.

And yet have almost no idea of what the workers and agencies do with their cash.

 

[SchlongConery]

Yeah, I wouldn't be concerned about the CRA asking questions on terb, they know how money is laundered. I'd be more concerned with someone trying to figure out if it's viable to go on a robbing spree.

CRA doesn't carfe unless they can prove you are under reporting or not reporting at all.

Theft is a far bigger risk. Especially, and sadly, by those who know the girl keeps cash around.

 

[Jenesis]

CRA doesn't carfe unless they can prove you are under reporting or not reporting at all.

Theft is a far bigger risk. Especially, and sadly, by those who know the girl keeps cash around.

Lots of women spread cash out in different hiding spots and most don’t hold money overnight. At least not at incall locations. Private home may be a different story.

 

[Not getting younger]

Lots of women spread cash out in different hiding spots and most don’t hold money overnight. At least not at incall locations. Private home may be a different story.

The topic of how much $$ SPs make, what they spend it on. Or invest it on/in which ever what ever. Lol…who cares it’s their life and good for them if they are happy. Isn’t that all that matters?? Amazes me sometimes.

The topic of organized crime and terrorist is related and an entirely different beast.

very breif this one.

https://www.scotiabank.com/ca/en/personal/advice-plus/features/posts.what-is-cuckoo-smurfing.html#:~:text=Smurfing%20is%20a%20money%20laundering,amongst%20multiple%20transactors%20or%20accountholders

.