Common Ways Men Hide Money

wealthymattersA husband who hides assets usually has very specific, predictable objectives. In general terms, his goals are to:

1. Hide, understate, or undervalue certain assets,

2. Overstate debts,

3. Report lower than actual revenue, and/or

4. Report higher than actual expenses.

Here are a few of the most predictable strategies.

Hoarding unrecorded cash. Moving cash in the form of currency leaves no paper trail, and offshore bank accounts are relatively easy (from a legal standpoint) to open. The disadvantage is that laundering over $100,000 in currency can be time consuming and will likely require travel. Depending on the circumstances, this tactic could involve the very serious criminal acts of money laundering, violation of cash transfer reporting requirements, income tax fraud and perjury. At a less sophisticated level, men stash money in safe deposit boxes, in the house or elsewhere. Think through your husband’s recent habits and activities. Does anything lead you to believe he is hiding assets in actual cash?

Secreting already recorded cash receipts. Advantage: This can be completed as part of a complex accounting scheme, which may be too complicated or expensive to discover. Disadvantage: Once cash is recorded, its absence or transfer is discoverable. Read more of this post

%d bloggers like this: