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#1
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Offshore Accounts and Poker Sites
Why aren't poker sites just having people setup legit offshore bank accounts, then do an instant transfer to the poker skin? Couldn't PokerStars say "setup a swiss bank account and make a transfer to it, then just deposit on Stars and get a great bonus" It legal for us to have offshore accounts right? US has no juristiction on them right? Why cant Stars direct people to UBS for an instant account setup? EFTs can take minutes right? Skall?
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#2
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Re: Offshore Accounts and Poker Sites
In the past when I've raised the question as to the enforceability of any such provisions of the UIGEA, this has always been the first question in my mind. Thanks for raising it so clearly.
Half a year later, I still don't understand how any regulations would be able to prevent this from happening. |
#3
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Re: Offshore Accounts and Poker Sites
US banks may not allow deposits with offshore banks that knowing allow US citizens to make transactions with online gaming sites.
Then again it maybe to much of a stretch for US banks to identify such offshore bank accounts and stop such deposits. Interested to see Skalls response. |
#4
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Re: Offshore Accounts and Poker Sites
This must be one of the regulations which US banks are complaining about, because if privacy laws in Lilliput (for example) prohibit domestic banks from interfering with customers wishes as to how they transact personal business, and by extension, from divulging such information to foreign entities (such as US banks), then getting around Lilliput's laws would have all kinds of implications and problems. I just can't see that happening.
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#5
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Re: Offshore Accounts and Poker Sites
Now that I think about it I have heard of Poker Sites setting there "VIP" players up with offshore accounts.
I think it would be good for poker sites to start directing there players to offshore accounts. Offshore account might be the ultimate gambit! |
#6
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Re: Offshore Accounts and Poker Sites
I want to do it, but so far it seems like they all want a sizeable minimum balance.
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#7
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Re: Offshore Accounts and Poker Sites
You can find offshore accounts with no or a small minimum balance. Just gotta dig.
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#8
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Re: Offshore Accounts and Poker Sites
Salazar,
Here's the answer: 1) 9/11/ Patriot Act; 2) US armtwisting of other holdout tax haven nations to fall in line with international banking regs to fight money laundering; 3) the resulting specific requirement that banks "know your customer" |
#9
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Re: Offshore Accounts and Poker Sites
[ QUOTE ]
Salazar, Here's the answer: 1) 9/11/ Patriot Act; 2) US armtwisting of other holdout tax haven nations to fall in line with international banking regs to fight money laundering; 3) the resulting specific requirement that banks "know your customer" [/ QUOTE ] I think it is naive to believe that matters are this simple. |
#10
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Re: Offshore Accounts and Poker Sites
q,
It is indeed that simple as to why the sites can't easily set up accounts for players overseas. KNOW YOUR CUSTOMER. google it and see. |
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