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Wire transfer from Asia

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puppylover

Junior Member
What is the name of your state? CA

My friend, who has a business in Asia, asked me if I can help her act as the 'purchasor' and 'receiver' of some products she would like to purchase from the US. Apparently the company selling the products only ships to within the US. So what she's proposing is this -- she'll wire the $$ needed for the purchase into my US bank account, which I will then use to pay for products. Upon my receipt of the products/goods, I will then ship them over to her in Asia.

My question is, am I setting myself up for any tax liability (or any other forms of risk) in this scenario at all? The total amount that will be wired to my bank account would be under $100,000.

Thanks in advance!
 


LdiJ

Senior Member
What is the name of your state? CA

My friend, who has a business in Asia, asked me if I can help her act as the 'purchasor' and 'receiver' of some products she would like to purchase from the US. Apparently the company selling the products only ships to within the US. So what she's proposing is this -- she'll wire the $$ needed for the purchase into my US bank account, which I will then use to pay for products. Upon my receipt of the products/goods, I will then ship them over to her in Asia.

My question is, am I setting myself up for any tax liability (or any other forms of risk) in this scenario at all? The total amount that will be wired to my bank account would be under $100,000.

Thanks in advance!
There is no company out there who wouldn't make arrangements to ship a large order like that outside of the country.....unless they were somehow prohibited by law from doing so...or prohibited by contract from doing so. Make sure that everything is on the up and up with this whole thing.

If you end up doing it, with that much money involved I would report the income (the cash she sends you) and the expense (the product and shipping costs) on schedule C.
 

puppylover

Junior Member
Thanks...based on your advice and other input that I have received, I've decided to pass on this endeavor. Too much potential cost for little benefit.
 

Ozark_Sophist

Senior Member
This is a common fraudulant con. If you would have participated, you would have been looking at serious felony counts from wire fraud, identity theft, mail fraud, etc.

Groups look for a patsy to buy good with stolen money and then ship it out of the country. Account information from Phishing, hacking, or other identity theft angles.

From a law enforcement angle, it first looks like the patsy is responsible for the entire fraud (after all, the goods get sent to you).
 

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