German banks are hoarding so many euros they need more vaults

Re:German banks are hoarding so many euros they need more va... by Scoundreller on Monday February 03, 2020 @09:27PM (#22231774)

If you have large piles of money to launder, one way is to build a rental property and pay all the materials/contractors in cash.

But now harder to do that with 5x the bills. Or suddenly stuck with 500s that nobody wants to take.

[ Parent | on HN ]

Re:German banks are hoarding so many euros they need more va... by throwawaycanada on Tuesday February 04, 2020 @12:13AM (#22232628)

Wait... how do you explain the appearance of the building with no expenses shown except "from cash"?

[ Parent | on HN ]

Re:German banks are hoarding so many euros they need more va... by Scoundreller on Tuesday February 04, 2020 @07:35AM (#22234816)

At least in Canada, the city cares about building permits, but doesn’t do any checking on how the building/construction was paid for.

Banks don’t really question rent cheque’s coming in every month, or a large bank transfer coming from your lawyer for the sale of property.

[ Parent | on HN ]

Re:German banks are hoarding so many euros they need more va... by smokeyfish on Tuesday February 04, 2020 @12:58AM (#22232836)

There are expenses, they're just not the right expenses.

[ Parent | on HN ]