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#1
10-17-2006, 06:32 PM
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Is this workaround feasible
Just brainstorming here, and I'm not sure if this has been discussed before, but here goes.
Potentially, we could fund our poker accounts by transfering funds to a foreign bank account, and then transfer funds from that bank account to the poker site. While transfers to web-wallets like Neteller may be blocked, I think the US would have a much harder time blocking transactions with foreign banks that already do a lot of non-gambling business with the United States. The potential problem for this would be actually opening up the foreign bank account. Also, there may be a problem with customs if you are transfering large amounts of cash. Nevertheless, if some Antiguan bank allowed US customers to open accounts online or over the phone, I don't see why this wouldn't work. 
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#2
10-17-2006, 07:07 PM
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Re: Is this workaround feasible
Primary downside is the effort players would have to undertake to open such an account. Know plenty of players who won't even use Neteller due to the invasive questioning so they get people they trust to chip dump or transfer to them, instead. Now, say you go through the trouble and help other people fund their gaming accounts through your new foreign bank account-- are you knowingly aiding and abetting in the acceptance of an unlawful internet wager?
Another downside is that if a citizen holds more than $10k in offshore bank accounts (in aggregate) he or she is required by law to register details regarding said fact with the Dept. of the Treasury (as well as note it on their tax return). Really who wants to trigger unnecessary additional scrutiny from their tax authorities? IANAL
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#4
10-17-2006, 07:23 PM
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Re: Is this workaround feasible
[ QUOTE ]
Know plenty of players who won't even use Neteller [/ QUOTE ] I agree that this wouldn't be of much help to people like this, but I think it could work as a Neteller substitute transfers to Neteller start getting blocked by banks. [ QUOTE ] Now, say you go through the trouble and help other people fund their gaming accounts through your new foreign bank account-- are you knowingly aiding and abetting in the acceptance of an unlawful internet wager? [/ QUOTE ] You don't need to have a foreign bank account to make an inter-account transfer at a poker site, so I find it unlikely that the governement would prosecute citizens for making inter-account poker transfers if they funded their account via a foreign bank, but not prosecute if they funded through other means. [ QUOTE ] Another downside is that if a citizen holds more than $10k in offshore bank accounts (in aggregate) he or she is required by law to register details regarding said fact with the Dept. of the Treasury (as well as note it on their tax return). Really who wants to trigger unnecessary additional scrutiny from their tax authorities? [/ QUOTE ] I find this concern more credible. While I already pay my taxes in full, I do have some concern about the governemnt pulling some shenanigans. Still, this may not be a concern for low stakes and micro limit players who won't reach the 10K threshold.
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#5
10-17-2006, 07:36 PM
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Re: Is this workaround feasible
[ QUOTE ]
Just brainstorming here, and I'm not sure if this has been discussed before, but here goes. [/ QUOTE ] It has been discussed ad nauseum in countless threads. Tons of opinions, advice, etc. to be found. Now wading through all the threads to find it is another thing.
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#6
10-17-2006, 07:49 PM
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Re: Is this workaround feasible
[ QUOTE ]
I agree that this wouldn't be of much help to people like this, but I think it could work as a Neteller substitute (when/if) transfers to Neteller start getting blocked by banks. [/ QUOTE ] Yes, so long as someone is willing to open an account at a foreign bank, one without any US subsidiaries, they should have no problema sending those funds to whatever payee they wish. [ QUOTE ] You don't need to have a foreign bank account to make an inter-account transfer at a poker site, so I find it unlikely that the governement would prosecute citizens for making inter-account poker transfers if they funded their account via a foreign bank, but not prosecute if they funded through other means. [/ QUOTE ] True, but the government might be able to gather additional data if the money is sent through a bank, as opposed to some other method. For an example of this, look at the current uproar in Switzerland, where they are accusing SWIFT of forwarding bank wiring information to US authorities in contravention with their own data protection laws. [ QUOTE ] Still, this may not be a concern for low stakes and micro limit players who won't reach the 10K threshold. [/ QUOTE ] True.
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#7
10-17-2006, 08:37 PM
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Re: Is this workaround feasible
[ QUOTE ]
It has been discussed ad nauseum in countless threads. Tons of opinions, advice, etc. to be found. Now wading through all the threads to find it is another thing. [/ QUOTE ] Some of the more interesting threads: egold, commodity thread phone card, paypal europe, epassporte thread foreign agent of foreign operator thread Those I've missed, hopefully someone will add the URLs to this thread.
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