The Expert Podcast

…Be aware if you're doing a money transfer or doing anything that transfers funds, you may be being monitored by government agencies. An article in the wall street journal that is surveillance program The government uses captures money transfers between the us and some other countries. So if you're doing a transfer of funds, And you're using certain platforms. Those platforms may be monitored or even reporting to government agencies, not necessarily a bad thing right there as. as you do what you're doing is legitimate Then transferring funds is perfectly legal.

But you want to make sure you're doing the right reporting If you have to report it for taxes, if we have to report it for any other asset. disclosures. Do you want to make sure you do that You don't want to be doing anything for transferring funds. That creates a record That's going to be illegal That's going to get you into trouble. So there's a lot of, money transfers that are done every single day There's PayPal's Zelle.

Venmo. other types of transfers and there's platforms that will do it internationally. That can do it either in Fiat currency cryptocurrency.

local currency. Sometimes there's an intermediary that does a clearing house type of transfer kind of like a wire transfer. But making sure that your funds transfer happens the way you want and being aware that these are monitored And if you're in the U S. There's a federal law that's being…rolled out by the IRS that it's going to monitor every transfer. $600 or more so that can affect even some E-bay transfers.

So having some awareness of how wire transfers or money transfers happen and what's being monitored might be important. For your day-to-day operations or your business enterprise.