how to launder money:
1. sell your sack of severed heads for $500,000 cash.
2. deposit into bank as fast as they'll let you
3. wait 3 months
4. buy $1million house with half debt. lender will ask "source of funds"?
4a. answer "savings"
5. they'll ask for two months bank statements, which you have, showing it's just been sitting around
6. wait a bit
7. sell house. exterminate debt.
8. your 500k is clean
banks launder money by design through real estate lending
I don't think any bank in Europe will let you deposit 500000 $ (or €) cash.
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y not? like what is the argument?
They would say that you need to prove the source of your funds first.
that's where the two months of bank statements comes in because that's all they ask for
