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Discussion Starter #1
What would be the risks with this? Opening a bank account for the sole purpose of using it to earn money from deposits being made to this account. Basically an account that receives deposits from a U.S account. But is a Canadian account. These deposits will than be sent to various other Canadian accounts or bitcoin accounts. Than the person that made this account earns money on each transaction. Keep in mind that the person in the U.S sending money to this account will have access to all the bank account details.

How risky is this for the person creating this account. What is the worst that can happen?
 

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Risks:

1. You could be scammed.

2. You could be charged with money laundering, depending on what the scheme is about.
 

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Discussion Starter #3
Scammed how though? All the money in account is not mine. It’s all from the person in U.S.

And why money laundering. Not doing anything illegal. Just sending people money.
 

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If they have your account details, they may be able to get access to other accounts using the data. Or they may ask you to deposit a certain amount as a starter, then disappear...
 

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They can use your bank account details to open other accounts? How is that possible. And they wouldn’t be asking for any funds from me to be deposited. All the money is coming from them. Nothing from me. Even just to get started. They actually said an account with nothing on it.
 

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You should look up ”beneficial account ownership” and “3rd party designation”.

it sounds like your scenario might fit these regulations/laws. The account may be allowed to be opened if you disclose these activities up-front, and then be subject to ongoing scrutiny.

I also recall that some “money transfer” type accounts were prohibited from being opened.

note: former Canadian retail Banker
 

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I wish I had a dollar for every time a US resident asked me to receive money for them and send to them ,usually from offshore gaming sites lol.Do not do it.
 

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Is there really any risk? I’m not investing any of my money in this. If I don’t like where it’s going I could always back away. It is my account in my name that I can close at any time right?
 

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Is there really any risk? I’m not investing any of my money in this. If I don’t like where it’s going I could always back away. It is my account in my name that I can close at any time right?
Yes...risk that the bank Or institution will report your activities......banks have an obligation to report “unusual” activity. I suspect once you are are on their “unusual” list, they’ll monitor your accounts regularly.

do you have more details to share? do you know the true nature of the source of the funds? Do you know the true destination?

i do recall some institutions even not allowing bitcoin Purchases through their accounts.
 

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Discussion Starter #12
It’s someone that’s a corporate lawyer that has clients in Canada. They would be paying me. She’s trying to impress her client and if things go well she can get more clients through them.
 

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A corporate lawyer that can't open a CAD account on their own? They're either lying or incompetent.
Stay away.
 

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Discussion Starter #14
A corporate lawyer that can't open a CAD account on their own? They're either lying or incompetent.
Stay away.
She says she needs someone in Canada to have a Canadian account. I brought that up earlier to her and she said she needs someone in Canada to use the account since it would bd clients in Canada.
 

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This is a common scam. They send you money and ask you to send a portion of the money onwards. Then they reverse the original transaction, leaving you owing the portion of the money that you forwarded to the bank.

 
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