Guys can you advise please.
This issue has been bothering me for a while since i dont want to go to jail, dont think i will like it there.
I started arbing with this Albania local bookie, the odds are good but i have one issue of betting in the albania local currency Lek since it is better and gives more profit. The issues is getting the albania lek into finland since i live there. If i am to use banks, western union or anyhting, even neteller, i will lose a good percentage.
so i decided to contact some albanians living in Finland, my deal with them is that they give me the money they actually want to send over to Albania and i in turn transfer the money i have in albania to their account in Albania. This way, we both win and save cost in transfer charges.
my issues is, am i laundering money, is this illegal.
Advise please
exchange of money
- Alfa1234
- Totally Pro
- Karma: 63
Post
Re: exchange of money
You are not money laundering.
Money laundering means exchanging illegal money (from drugs or any other illegal activity) and somehow through a process making that money "legal". If the money you are giving these people has not been made in an illegal way (arbing is not illegal), you are not money laundering.
Money laundering means exchanging illegal money (from drugs or any other illegal activity) and somehow through a process making that money "legal". If the money you are giving these people has not been made in an illegal way (arbing is not illegal), you are not money laundering.
- arbusers
- Administrator
- Contact:
- Karma: 626
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Re: exchange of money
This is a Hawala system 100%.
Before going to discussion on what can be done and what can't be done, I m asking you why can't you use Neteller or any other mainstream way to get paid?
I understand that you will have to pay an exchange fee of...1.9-2.9 or 3.9%. Is that right?
With good money management and carefully selected transactions, you can keep the expenses lower than what figures show and also minimise the exchange risk.
Before going to discussion on what can be done and what can't be done, I m asking you why can't you use Neteller or any other mainstream way to get paid?
I understand that you will have to pay an exchange fee of...1.9-2.9 or 3.9%. Is that right?
With good money management and carefully selected transactions, you can keep the expenses lower than what figures show and also minimise the exchange risk.
- geetz
- Has experience
- Karma: 12
- Alfa1234
- Totally Pro
- Karma: 63
Post
Re: exchange of money
Yes, but that is not illegal in Finland (and I don't it's illegal anywhere in the EU).Arbusers wrote: This is a Hawala system 100%.
- arbusers
- Administrator
- Contact:
- Karma: 626
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I m trying to take as more info as I can from xajaker, so we might end up in a way where we will not have any questions about legality.
Re: exchange of money
I didn't say it is illegal, but we need to check the Albanian side also about legality and not only the Finish.Alfa1234 wrote:Yes, but that is not illegal in Finland (and I don't it's illegal anywhere in the EU).Arbusers wrote: This is a Hawala system 100%.
I m trying to take as more info as I can from xajaker, so we might end up in a way where we will not have any questions about legality.
- xajaker
- Gaining experience
- Karma: 1
Post
Re: exchange of money
Thanks Guys, now i feel a little saver.
i could use skrill or neteller but this money management and accounting thing, are heavier than i thought and either way, i am going to still lose some percentage but with this method, i gain instead and i think it is easier for me.
But i will surely consider all options also now.
i could use skrill or neteller but this money management and accounting thing, are heavier than i thought and either way, i am going to still lose some percentage but with this method, i gain instead and i think it is easier for me.
But i will surely consider all options also now.
- xajaker
- Gaining experience
- Karma: 1
Post
any question, i am willing to answer, the Albanian side, i really dont think they mind and also i am not physically involved there and so i am not much afraid. My most worries is in the Finland side.
Re: exchange of money
Arbusers wrote:I didn't say it is illegal, but we need to check the Albanian side also about legality and not only the Finish.Alfa1234 wrote:Yes, but that is not illegal in Finland (and I don't it's illegal anywhere in the EU).Arbusers wrote: This is a Hawala system 100%.
I m trying to take as more info as I can from xajaker, so we might end up in a way where we will not have any questions about legality.
any question, i am willing to answer, the Albanian side, i really dont think they mind and also i am not physically involved there and so i am not much afraid. My most worries is in the Finland side.
- arbusers
- Administrator
- Contact:
- Karma: 626
Post
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.
Re: exchange of money
1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.
- Alfa1234
- Totally Pro
- Karma: 63
Post
Re: exchange of money
Transferwise has the Albanian LEK (try their borderless account) and is currently, as far as I have been able to dig up, not taking part in CRS.
- xajaker
- Gaining experience
- Karma: 1
Post
I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.
Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW
Re: exchange of money
Arbusers wrote:1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.
I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.
Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW
- Alfa1234
- Totally Pro
- Karma: 63
Post
Re: exchange of money
They have all the rates etc up on their site but after checking it more thoroughly I think you can only send LEK to them (to get EUR) and not the other way around...sorry for not checking better before.xajaker wrote:Arbusers wrote:1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.
I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.
Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW
- xajaker
- Gaining experience
- Karma: 1
Post
Yes that is true but thanks a lot guys, since i am not breaking any laws, i think i continue with the HAWALA system.
Woo, thank goodness, not going to jail soon
Re: exchange of money
Alfa1234 wrote:They have all the rates etc up on their site but after checking it more thoroughly I think you can only send LEK to them (to get EUR) and not the other way around...sorry for not checking better before.xajaker wrote:Arbusers wrote: 1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.
I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.
Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW
Yes that is true but thanks a lot guys, since i am not breaking any laws, i think i continue with the HAWALA system.
Woo, thank goodness, not going to jail soon
- arbusers
- Administrator
- Contact:
- Karma: 626
Post
Re: exchange of money
You have a disadvantage here.
All Hawala systems require trust from all enabled members. The first Hawala systems were among members of a broaden family.
Do you have that trust?
All Hawala systems require trust from all enabled members. The first Hawala systems were among members of a broaden family.
Do you have that trust?
- fnatic91
- Pro
- Karma: 9
Post
Re: exchange of money
A direct charter flight HEL-TIA just started to run , so you can fly to Albania to collect your LEK and meanwhile enjoy some beach days there
P:S how did you sign up ? These bookies accept only locals , apart of Bastarena.
P:S how did you sign up ? These bookies accept only locals , apart of Bastarena.
Last edited by fnatic91 on Thu May 24, 2018 12:19 pm, edited 1 time in total.