Quote:
Originally Posted by deonbell
I remember hearing once that banks had to report any cash transactions over $10,000. That was pre September 11. I don't know what it is now.
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As far as Canada is concerned, before January 2015 you could do as many $10k+ transfers as long as the Bank did not suspect you of something strange.
The BANK had to fill a form to the Government.
Ie: Buying advertising via Wire transfer every month was not suspect. But if you over 10k in Pakistan, that could be flagged by the BANK.
Now, since January 2015, ALL transfers over 10k must be automatically reported the the fiscal authorities of Canada. Big Brother.
If it's done in Canada, I'm pretty damn sure it's done in USA.
That means we got a call asking why we were sending money offshore. WTF it's our fucking business!
Bang, they asked for a Full Verification of Both the Corporation AND Personal for the last *6* freakin' years!
WTF, do you really think I want my internet business to deal with this fucking government now? How stupid is that. In USA they did the same, the program cost $1billion and they were able to get back $750k only per year.
No wonder why corporations want to get out of North America.