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How to hide money in the bank

It seems strange to be able to imagine hiding money in the bank if it has become the place where criteria for transparency and tax control work. However, the measures that will be stated apply as an alternative to “hiding money under the mattress”. The reasons may be different. Think of the man who, before divorcing his wife, wants the deposited money to disappear from his account. Or to the CEO who does not want to remain in the event of a seizure of creditors. Many examples can be given but they are similar. Of course, one of the most important measures, as indicated, is to hide the money under the mattress. Alternatively, there are also three ways to hide money in the bank.

The bank draft measure

The first cure for hiding money in the bank gets a bank draft. In practice, you have to give the bank treasurer the amount you want to “hide”

; and ask for bank drafts to be released. These must be done to him, a family member or a trusted friend. In this way, the money will go out of the party’s current account and will be deposited into a special fund in the same bank. No one will know if there is such money, not even the Revenue Agency or any other person. Thus, for example, if a creditor were to seize the debtor’s current account, the amounts covered by the cashier’s control would be exempted from this. In addition, they can be collected after three years.

The measure for the foreign bank

What scares every Italian is the tax account register. It is an archive of information provided by banks, updated at least once a year. The most interesting and therefore worrying is that it contains all contractual relations between banks and customers. These are: current accounts, safes, bank transfers and deposits, securities deposits etc. Thanks to this register, both the tax authorities and creditors can know a person’s financial capacity.

So when it comes to debts paid by the taxpayer, you can move on to him to get the sum back. Against this situation, it is curious to know that the other remedy for concealing money in the bank is to use a foreign bank.. Think of PayPal and other lenders not covered by our legislation. As such, they will not have to automatically provide any information to the tax register unless specifically requested. In the latter case, the data will in any case be more difficult to obtain than a regular account.

Third measure: safe

It is fully allowed to hide cash in safes. The boxes, in their objects, are covered by secret. In fact, not even the bank can tell its customer what it has there. The Revenue Agency can only know if there is a bank deposit, but nothing about its contents. For this purpose, it should actually perform a specific on-site verification. The phenomenon is so widespread that the government has often proposed an amnesty to get cash out of the boxes. This is because it is assumed that they are the result of black income.

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