money laundering experts pls come in

[li9ht5peed]

Ask chatgpt your ultimate guru. I ever ask about s3x too making puppies

i used chatGPT once and gave up. it's too stupid for me

 

[li9ht5peed]

Not really true lah, unless amount is super big, if not can just cash out your USDT on StraitsX, need kyc but no need to show what transactions on block chain

that's exactly what indonesians are doing. maybe can consider but i don't really like dealing with crypto because it's one extra layer before i get my money. extra work and time which takes my time & focus away. i prefer dealing with currencies and keep things above board

 

[Spike]

i was asked to check a property before an overseas buyer, whom i've never met before, pays for it. how do i accept payment from an overseas bank without getting into trouble? i was worried it could be a bad actor. what if the overseas bank account was dirty? i wanted to consider this a potential money laundering mule tactic but i'm used to taking calculated risks. should i approach my bank to ask for procedures eg ask for ID and video call for facial verification? i can accept paypal or crypto too, but crypto payment is risky coz the MAS approved exchange can flag money laundering concerns and i'll get into more trouble than it's worth

Bro, please read this.

This is definitely a red flag.

https://www.cea.gov.sg/docs/default...rism)-regulations-2021_(updated27jan2025).pdf

 

[Spike]

thanks for the valuable advice. buyer isn't passing me cash now because he claims he is overseas, which is legit based on his phone number and call timing (not the usual scam call hours). he wants to send money online, which immediately made me uncomfortable. he probably doesn't have a local bank account but i will ask the bank if a tt transfer is safe on my end

Impossible for a foreigner to transfer large sums into Singapore easily these days unless this is a B2B transaction..

 

[li9ht5peed]

Impossible for a foreigner to transfer large sums into Singapore easily these days unless this is a B2B transaction..

i asked for a small sum for bank verification. nothing was done and no receivable account numbers were given either

 

[Spike]

i asked for a small sum for bank verification. nothing was done and no receivable account numbers were given either

My suggestion is not to get involved in this. Probably not worth the potential repercussions and whatever fees you are receiving.

Even for HNW individuals.. will take months to set up a private banking account here with KYC etc.

 

[wlalala]

no issue at all from seller pov. At least in terms of money laundering, onus is not on the seller to do due diligence as to where the money comes from.

bigger issue would be getting scammed big time.

 

[grevq80o]

i was asked to check a property before an overseas buyer, whom i've never met before, pays for it. how do i accept payment from an overseas bank without getting into trouble? i was worried it could be a bad actor. what if the overseas bank account was dirty? i wanted to consider this a potential money laundering mule tactic but i'm used to taking calculated risks. should i approach my bank to ask for procedures eg ask for ID and video call for facial verification? i can accept paypal or crypto too, but crypto payment is risky coz the MAS approved exchange can flag money laundering concerns and i'll get into more trouble than it's worth

Hello, which realtor u come from? Hutton's? propnex? Era?

This type of thing ur company have solution already, no need to reinvent the wheel. Use the collective knowledge of ur company to solve this problem

 

[eyz]

check CDSA Section 5.

if your trade or service falls under certain act, you are supposed to follow the protocol for suspicious transaction report. different act will have different threshold.

if you are unfamiliar, most likely you don't fall under any of the act, cos big companies are big on compliance as it could mean $500,000 fine and damages to their brand name.

 

[mel1888]

So u recd the money liao & they send too much? Return them the extra lor.

 

[eyz]

Hello, which realtor u come from? Hutton's? propnex? Era?

This type of thing ur company have solution already, no need to reinvent the wheel. Use the collective knowledge of ur company to solve this problem

yah big companies should have their compliance in place for CDSA and TSOFA.

 

[coyote]

i asked for a small sum for bank verification. nothing was done and no receivable account numbers were given either

Then it could be a scam?

 

[Jirachi]

Then it could be a scam?

Sounds like it

 

[Youshallnotknow]

my crypto exchange is mas regulated and very troublesome to use. i had to go thru alot of AML steps in order for it to be approved

Who tell you can only use exchanges to do?

 

[itedino]

i was asked to check a property before an overseas buyer, whom i've never met before, pays for it. how do i accept payment from an overseas bank without getting into trouble? i was worried it could be a bad actor. what if the overseas bank account was dirty? i wanted to consider this a potential money laundering mule tactic but i'm used to taking calculated risks. should i approach my bank to ask for procedures eg ask for ID and video call for facial verification? i can accept paypal or crypto too, but crypto payment is risky coz the MAS approved exchange can flag money laundering concerns and i'll get into more trouble than it's worth

U should get a lawyer. Why u doing it yourself.

 

[itedino]

no issue at all from seller pov. At least in terms of money laundering, onus is not on the seller to do due diligence as to where the money comes from.

bigger issue would be getting scammed big time.

Correct. U have your valid reason to support u sold your property. Sure got papers from overseas court or agency to support.

Any money laundering money from the buyer is subject to that country policy.

As long not transfer here for nothing under unknown source

 

[champion09]

i was asked to check a property before an overseas buyer, whom i've never met before, pays for it. how do i accept payment from an overseas bank without getting into trouble? i was worried it could be a bad actor. what if the overseas bank account was dirty? i wanted to consider this a potential money laundering mule tactic but i'm used to taking calculated risks. should i approach my bank to ask for procedures eg ask for ID and video call for facial verification? i can accept paypal or crypto too, but crypto payment is risky coz the MAS approved exchange can flag money laundering concerns and i'll get into more trouble than it's worth

AML procedures let bank handle can le. The worrisome part is that buyer pays in full cash. For crypto, it is at your own risk. SG bank system dont recognize crypto and needs payment to be made in cash or online. So, someone has to convert the crypto to cash.

 

[waiken]

self pwn thread ah?

 

[Soya_Bean]

Could you clarify your role in this transaction?

At the moment, it comes across as though you’re an individual attempting to act in the capacity of a professional institution—one that should ideally have appropriate AML tools and compliance procedures in place.

 

[li9ht5peed]

self pwn thread ah?

no need act smart talk big here