Banking question

R13... said:
@The_Ogre why doesn't the employer do the cash sends directly instead of them going through you? All of the banks have some kind of cash send system.
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pinball wizard said:
If it's all above board, his employer can do just that, right?

You seem all kinds of dodgy from your posts here.
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He could do that, I just didn't think of it at the time when he asked me if he can give my bank account to his boss.

But do payroll systems have that feature?
 
Sepeng said:
Assume for a second the painter is not really painting but selling drugs.
Would this is effect not be money laundering? Amounts low enough to not trigger any threshold alarms, but occurs often?
Bearing in mind my knowledge of money laundering is 99% based on movies, 1% a course we do annually.
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As someone that works in the Anti-Money Laundering industry... you are actually 100% correct :thumbsup:
 
The_Ogre said:
He could do that, I just didn't think of it at the time when he asked me if he can give my bank account to his boss.

But do payroll systems have that feature?
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I doubt a payroll system can do that. I assumed he's just being paid by the employer by regular EFT. I mean a payroll admin wouldn't agree to use a third party's bank account like you did so assumed it's an informal job.
 
AlmightyBender said:
As someone that works in the Anti-Money Laundering industry... you are actually 100% correct :thumbsup:
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Maybe I don't understand what money laundering is.

So a legally registered company that's also registered with the NHBRC and one of the biggest property maintenance companies in the city pays one of their employees via my bank account and it's seen as money laundering?

And before someone brings it up again, the guy is here legally with temporary documentation, awaiting home affairs to finalise his application. I don't quite know why he's unable to open an account using what he currently has, but I know he tried and gave up when the banks didn't want to help him.

Money laundering aims to conceal the source of funds. At least to my knowledge it does. In this case, the source is quite easily identifiable
 
The_Ogre said:
So a legally registered company that's also registered with the NHBRC and one of the biggest property maintenance companies in the city pays one of their employees via my bank account and it's seen as money laundering?
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No definitely not money laundering in that specific case. Was commenting on the hypothetical raised.
The_Ogre said:
And before someone brings it up again, the guy is here legally with temporary documentation, awaiting home affairs to finalise his application. I don't quite know why he's unable to open an account using what he currently has, but I know he tried and gave up when the banks didn't want to help him.
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Yeah no real problem with that. However the same "mechanism" is commonly used by crooks to try and conceal what is going on. They think they being clever. They aren't.
The_Ogre said:
Money laundering aims to conceal the source of funds. At least to my knowledge it does. In this case, the source is quite easily identifiable
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Correct. In your specific case if a red flag was ever raised they would simply ask you guys and then the case would be closed. On the face of it though, it isn't actually obvious where the source is because it the third party.

But at that low level of value and low frequency is transaction it would go fully under the radar. We only care about big fish tbh :X3:
 
Basically you are doing money laundering for all intents and purposes regardless of what your motivations are.
 
Look into the Shoprite Money Market account. They say on the website "No fees, no forms, no FICA"
 
Magandroid said:
Look into the Shoprite Money Market account. They say on the website "No fees, no forms, no FICA"
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You would still need an ID number of some sort to do this. The product onboarding is likely integrated into DHA's API where the ID number is used to confirm identity and then that DHA response is stored digitally and is your "form & FICA".

Won't help the OP as he doesn't have SA ID.
 
FFS leave the guy alone he lost his wife and house and kids and dog and fish and neighbours through alcohol

he needs to feed his addicition

he needs the extra money to drink

without alcohol he doesnt have a personality
 
I.am.Sam said:
FFS leave the guy alone he lost his wife and house and kids and dog and fish and neighbours through alcohol

he needs to feed his addicition

he needs the extra money to drink

without alcohol he doesnt have a personality
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He had fish? :unsure:
 
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