Service legitimacy question: Wells Fargo account

[ivcosphi]

Guys I have a question.

So someone is offering a service where you open a Wells Fargo US bank account in your own name where they transfer money into, and then you are supposed to wire it outside of US while you keeping a % as profit.

I am guessing this is not legitimate at all and not even worth risking? Anyone has any insight on how this works?

[Upgrade00]

Almost certainly an illegitimate business. Passing funds which you do not know its source is a huge risk to you and could possibly make you an accomplice to a crime.

Not worth the risk in my opinion.

[Bitcoin_Arena]

"if the deal is too good to be true. Then it's probably a scam or a dirty deal"

Be careful of such offers, especially if it's a stranger. Who knows where the money comes from, it could be from selling illegal items such as drugs or financing terrorism. At the end of the day, you will be the one to end up in Jail since an account linked to your identity is involved in the transactions.

[Ever-young]

Yes it is Illegal that is why they need you to open the account with your own name, and personal details. Its is one of the ways internet fraudsters use in moving and stealing money, I don't know how they do it, but they usually use that created account to File a benefit using your credentials and the fund is being paid to that account and they will withdraw it leaving you with small portion and sometimes they will empty the account entirely, leaving you to pay your bank and government the debt when they discover it was a fraud. Why most of the time they use this account as a means of accepting illegal payments from people who are within that area, which if trace you the account owner will be hold responsible for the crimes committed with that account.

[BitMaxz]

That's too risky in my opinion why would you let other people use your bank account? If it's just due to a few percentages of the sent amount for me I wouldn't risk my name maybe the money that they are going to send or deposit to your account is from money laundering how can you explain it right now to the bank that it wasn't from money laundering?

Think seriously the US has AML Anti-money laundering law if you break the law you have a penalty of around $250k with 5yrs imprisonment.

So do you still want to take a profit from an unknown source?

Unless if it's a bitcoin wallet they deposit to your Bitcoin wallet and just use a mixer to send it again to them. But depositing to your local bank is very risky which is under AML.

[ivcosphi]

Almost certainly an illegitimate business. Passing funds which you do not know its source is a huge risk to you and could possibly make you an accomplice to a crime.

Not worth the risk in my opinion.

"if the deal is too good to be true. Then it's probably a scam or a dirty deal"

Be careful of such offers, especially if it's a stranger. Who knows where the money comes from, it could be from selling illegal items such as drugs or financing terrorism. At the end of the day, you will be the one to end up in Jail since an account linked to your identity is involved in the transactions.

Yes it is Illegal that is why they need you to open the account with your own name, and personal details. Its is one of the ways internet fraudsters use in moving and stealing money, I don't know how they do it, but they usually use that created account to File a benefit using your credentials and the fund is being paid to that account and they will withdraw it leaving you with small portion and sometimes they will empty the account entirely, leaving you to pay your bank and government the debt when they discover it was a fraud. Why most of the time they use this account as a means of accepting illegal payments from people who are within that area, which if trace you the account owner will be hold responsible for the crimes committed with that account.

That's too risky in my opinion why would you let other people use your bank account? If it's just due to a few percentages of the sent amount for me I wouldn't risk my name maybe the money that they are going to send or deposit to your account is from money laundering how can you explain it right now to the bank that it wasn't from money laundering?

Think seriously the US has AML Anti-money laundering law if you break the law you have a penalty of around $250k with 5yrs imprisonment.

So do you still want to take a profit from an unknown source?

Unless if it's a bitcoin wallet they deposit to your Bitcoin wallet and just use a mixer to send it again to them. But depositing to your local bank is very risky which is under AML.

Thanks guys, this is very helpful and saving me from some serious implications
This particular person outside of US is doing really well for a few years now but as you all said it is the people in the US that are likely getting scammed and punished...

[cryptoaddictchie]

So they are planning to use your account to transfer possibly big miney right? Sounds very suspicious since you are gonna send it outside the country and if the amount of money is quite big, of course the bank will notice it and might ask you for questions. You cant say that you are using your bank for such service. It is you would be on danger side as well if those guys are gonna do a money laundering.