Reply To: What I have come to believe

#67851
Fuengi (Andrew)
Participant

Cesar[/quote]

So how do they describe the bit where they leave the room and brown envelopes of money are exchanged?[/quote]

But realisticaly how is the notary going to stop that?

example: I i agree to pay 20.000 to the vendor and the money is not declared, nor are the funds ‘extra’ payments done infront of the notary, how are they supposed to know? We all agree & sign that the property is being bought for say 200.000 and i just give them the rest when the notary leaves to the room, or when we’re outside, or i give it to my lawyer before hand to pass on to the other lawyer when the deal is completed, etc…

Currently agencies are supposed to inform the police/gov. if a clients uses a certain amount of cash in the transaction (or they face fines). This should go further and keep track of vendor accounts aswell. Sudden increases in funds, purchases without having used existing accounts, etc…
And this needs to work across borders aswell so that a vendor can’t simply use a currency exchange company or some other firm to transfer the funds abroad.