Question

Will it be considered as gift for international wire transfer?

Forum|Forum|2 years ago
February 21, 2024
1 reply
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I have a friend who has a Hong Kong bank account. He plan to wire me $100,000, and then I can help wire it to his Hong Kong bank. He can't do it directly himself. Since I won't keep any part of the fund, will it be considered as a gift from him? Will the transfer to his Hong Kong bank be considered as a gifting action? Thanks very much!

Not A Product Question

M

Mike9241

You might not need a taxman but if you do this you may certainly need a lawyer for what is referred to as money laundering. Look at it this way, if you are so prosecuted you can have free room and board for up to 20 years and I hope you have a spare $1/2 million.

really seek legal advice before too late after

S

simnbAuthor

Thanks for your reply. I found some online posts about the money laundering and scam. But this is not really this case. I knew the friend for more than 20 years and all funds are legal.