ELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?
ELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?
You're viewing a single thread.
33
comments
Yes, the banks know. Their cut is usually large enough for them to look the other way.
Just to be clear, it’s not like the bank explicitly says “yeah, we’ll hide your money for x%”
Banks make money on fees, active management of investments, etc.
You've viewed 33 comments.