Question by who’s sane: Do you know of any business that wire money out of this country instead of depositing funds to avoid claiming?
I worked for a bank with one of our customers being a collection agency. Among many customers was a large well known insurance co, they collected money for was a special acct under another name but was for “uninsured motorist” for the auto company, one of their customers, that they had to pay claims out on, because they could not recoup from th
1; other insurance company because “there was none” and took the collected money from people to recover costs by threatening ruining credit to pay back since it was illegal not to have insurance
. The collection agancy said that the money had to be wired out of the country rather then deposited into the account so no record would be on bank statements so that the govt would not get on insurance agency for collecting what they claim they did not get due to uninsured motorist that cost the insurance industry much money and a good reason for the high rates they charge 16;o make up for their losses ,covering the deadbeats that they could not collect from at high cost everyone, yet did actually collect. Actually there not a loss as claimed.(Sounds like the insurance industry is again the frauder) It has occurred to me that if the insurance industry does this, there are probably other companies that do this, the recent swiss bank accounts news made me thi&# 110;k of it.
I realize there are many business secrets that are legal to do, but many of them do not seem a bit ethical to me. Another one was the insurance company law firm bought basket ball season tickets at high price from another law firm in building and they called it “charitable contribution” I guess as long as a company can produce a receipt or cancelled check to accountants they can get away with business outings that regular people are unable to do. Have you worked for a company that did special little deductions that are like this? It sure seems that there are many loopholes as they call it, but how do they find out what they are, from their accountants? What secrets do you know that larger business is able to do?
Best answer:
Answer by Speaking A
Not many that i know of ….
Answer by jim w
banks in other countries. but you can’t get it. if you need it in a hurry.
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