The Claim: A Social Security Card Can Be Used To Pay Off Debt And Make Purchases
As online scams continue to thrive amid the pandemic, an old hoax about Social Security cards containing account and routing numbers recently resurfaced on social media.
A May 20 Instagram post with more than 2,000 likes claims a Social Security card is really a credit card linked to your Treasury account, which “permits you a Federal ‘Exemption'” to discharge bills through credits issued on behalf of the government.
“In a sense Their credit is ‘Digital Gold’ that can be utilized to Fund your daily purchases, which can then be discharged through your Exemption Account via 18 USC 8!” the post asserts.
Accompanying the text is a screengrab of a Google search result showing Cornell Law School’s definition of the term “card issuer.” Below the definition is an image of the front and back of a Social Security card with “ACCT. #” and “ROUTING #” displayed in a large red text.
Actor Wood Harris a similar version of the claim to Instagram on May 20 in the form of a TikTok video, in which a man says: “So I’m sure people have heard about the numbers on the back of their social security cards being tied to a federal reserve bank. This is absolutely true.” The original TikTok video was shared on Feb. 28 and has more than 800,000 likes.
In a message to USA TODAY, the TikTok user claimed only “some” Social Security cards are tied to a Federal Reserve Bank and allow debit purchases. “The purpose was to show an account of the sort existed though not freely accessible,” he said.
Differences Between An Onshore And Offshore Banking
Despite all the misinformation out there on offshore banking, they act like any other traditional domestic checking or savings account. While we have assumed that local banks are safer and more secure because they exist just down the road, the reality is that your assets may be exposed to unnecessary risk.
Just because you can walk down the street and withdraw money from your home branch does not mean that your assets are safe and sound. Bank accounts are digitally recorded on global servers around the world. That goes for your small town bank and your big international commercial banks. Both types of banks store assets on the same types of global servers and actually care very little cash on hand.
In fact, foreign banks would be more likely to have your cash-on-hand rather than your local bank due to more stringent reserve requirements, whereas your local neighborhood bank likely has your money parked somewhere else. You might then ask, well why then do most people bank locally? The answer is that generally speaking most people do not know there is any other alternative.
- An offshore bank account is easier to establish than ever. With the quick digital access of information, you can open an offshore bank account online, with minimal documents from the comfort of your couch.
The World’s Only Untraceable Bank Account
It may have been possible in the days of swashbuckling piratesfor the individual with a few extra bucks to hide his stash in achest in the ground beneath a secret palm tree and be reasonablysure that his money was sagely hidden from other pirates like taxcollectors, ex-spouses, blackmailing mistresses, suing lawyersand others whose life ambition is to make the rich poor andthemselves rich. In today’s world with Switzerland down-gradingits secrecy laws and making numbered accounts history and moreand more tax havens being infiltrated by foreign governments andtheir tax departments snoopers, a man’s hard earnedmoney is no longer his personal business. Every government’stax-robber-barons want to know all the details so that they canextort in many cases more than 50% of your assets into their taxcoffers. Everybody today from tax authorities to lawyers has hisproverbial nose up your financial ass.” They work with thebelief that they can extort gross amounts of your hard earnedmoney because they have the power to make the rules. And afterall, the golden rule states that those who have the gold, rule.
Unless you bury your stash as the pirates of old or use theONE UNTRACEABLE BANK ACCOUNT EW IS GOING TO TELL YOU ABOUT, yourstash is ultimately available to Big Brother and his henchmen.
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Best Offshore Banking Jurisdictions
While there are an innumerable number of banks in the world with many offering account openings for non-residents, there are a select few that are popular. We have selected the best 5 offshore banking countries based upon their popularity, cost, ease of opening an account, and overall offshore financial services.
- 1. Cayman Islands – Best Offshore Investment Accounts
- 2. Singapore – Best High Net-Worth Accounts
- 3. Nevis – Best Asset Protection Accounts
- 4. Belize – Easiest Country in the World to Open an Account
- 5. Panama – Most Comprehensive Bank Account
Fighting Seizures By Us Secret Service
If your property was seized by the United States Secret Service for forfeiture pursuant to Title 18 USC 981, then the Secret Service is alleging that the property was used in an illegal scheme for money laundering, drug trafficking, or fraud.
After your money or property is seized, you will receive a letter from the U.S. Secret Service that provides you with notice of the reason for the seizure and the alleged basis for forfeiture.
The letter comes from the U.S. Department of Homeland Security because the United States Secret Service is an operational and support component of DHS.
Most seizures for forfeiture by U.S. Secret Service involve the following types of assets:
- U.S. Currency
If you disagree with the USSS that the property is subject to forfeiture, then you can demand that the property is returned immediately.
That claim triggers a 90-day deadline for an Assistant United States Attorney to either return the property or file a complaint for forfeiture in the U.S. District Court.
Attorney Leslie Sammis can help you challenge the USSS seizure for forfeiture by filing a claim of ownership using the attached Seize Asset Claim Form by the date referenced in the letter.
You should ensure that any correspondence regarding the USSS seizure with intent to forfeit references the seizure number provided in the letter. documents should be submitted to the following address via commercial carrier
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Coalition Of The Corrupt
Imran Khan was elated when ICIJs Panama Papers investigation came out in April 2016.
The leaks are God-sent, the Pakistani politician and former cricket superstar said.
The Panama Papers revealed that the children of Pakistans prime minister at the time, Nawaz Sharif, had ties to offshore companies. This gave Khan an opening to hammer Sharif, his political rival, on what Khan described as the coalition of the corrupt ravaging Pakistan.
It is disgusting the way money is plundered in the developing world from people who are already deprived of basic amenities: health, education, justice and employment, Khan told ICIJs partner, The Guardian, in 2016. This money is put into offshore accounts, or even western countries, western banks. The poor get poorer. Poor countries get poorer, and rich countries get richer. Offshore accounts protect these crooks.
Ultimately, Pakistans top court removed Sharif from office as a result of an inquiry sparked by the Panama Papers. Khan swept in to replace him in the next national election.
ICIJs latest investigation, the Pandora Papers, brings renewed attention to the use of offshore companies by Pakistani political players. This time, the offshore holdings of people close to Khan are being disclosed, including his finance minister and a top financial backer.
Asiaciti records say that Elahi backed off from putting money into a trust in Singapore after the provider told him it would report the details to Pakistani tax authorities.
Pandora Papers: Biggest Ever Leak Of Offshore Data Exposes Financial Secrets Of Rich And Powerful
Millions of documents reveal offshore deals and assets of more than 100 billionaires, 30 world leaders and 300 public officials
The secret deals and hidden assets of some of the worlds richest and most powerful people have been revealed in the biggest trove of leaked offshore data in history.
Branded the Pandora papers, the cache includes 11.9m files from companies hired by wealthy clients to create offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands.
They expose the secret offshore affairs of 35 world leaders, including current and former presidents, prime ministers and heads of state. They also shine a light on the secret finances of more than 300 other public officials such as government ministers, judges, mayors and military generals in more than 90 countries.
The files include disclosures about major donors to the Conservative party, raising difficult questions for Boris Johnson as his party meets for its annual conference.
More than 100 billionaires feature in the leaked data, as well as celebrities, rock stars and business leaders. Many use shell companies to hold luxury items such as property and yachts, as well as incognito bank accounts. There is even art ranging from looted Cambodian antiquities to paintings by Picasso and murals by Banksy.
What are the Pandora papers?
Where did the Pandora documents come from?
What is an offshore service provider?
Why do people move money offshore?
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Proposal By Treasury Isn’t Official
A May document from the Department of the Treasury outlines a number of the Biden administrations revenue proposals for the 2022 fiscal year. The proposal referred to in the claim suggests introducing more comprehensive financial account reporting to improve tax compliance.
The latest IRS estimates show a tax gap of $166 billion per year between the tax owed by businesses and the tax actually paid. The document says requiring comprehensive reporting on money flowing in and out of accounts “will enhance the effectiveness of IRS enforcement measures and encourage voluntary compliance.”
To achieve that, the Treasury proposed requiring financial institutions to annually report the total amount of money that went in and out of bank, loan and investment accounts if those accounts hold a value of at least $600, or if the total is at least $600 in a year.
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That means that if the total debits and credits equal at least $600 including deposited paychecks or money transferred from finance apps like Cash App or PayPal banks would have to report those figures to the IRS.
However, the banks would not report details on individual transactions, like how the money was spent, only the total amount of money flowing in and out of the applicable accounts.
Having that information will help the IRS flag under-reported income and target enforcement activities on tax evaders, the Treasury said.
Start Your Secret Divorce Account
Youve heard of the amicabledivorce. A couple gets together and splits their assets fairly. They try to make the process as smooth as possible. They do whats right for the kids. They might even stay friends.
But ugly divorces do happen. There will always be the bitter, nasty, name-calling, drag-out separations that seem to go on forever. And if you know anyone who has been through one, then you know that the emotional and financial toll can be devastating. A really bad divorce can take years to recover from. Some people never recover.
The cheaper to keep her dictum still holds true. If a relationship can be salvaged then its worth it to do everything possible to make it happen. In the event that a relationship cant be saved and you think you are headed for a nasty, bitter court fight, one of your goals may be to set up a secret account.
We don’t intend to offer legal advice, and following these steps could get you into more trouble than you ever intended. What follows are ways that some guys have hidden their assets from their spouses, for better or for worse.
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All Content Is From Us Department Of Justice News Releases
Feb. 18, 2015 Georges Briguet pleaded guilty to corruptly endeavoring to obstruct and impede the IRS. For tax years 2001 through 2010, Briguet filed false federal income tax returns on which he failed to report his foreign financial accounts, failed to report any income earned thereon and failed to pay any taxes on such foreign income.
Oct. 20, 2014 Menasha Cohen, from Hampton, N.H., pleaded guilty to filing a false income tax return for tax year 2009. Cohen, an oriental carpet dealer, and his sister maintained an undeclared bank account at UBS with a balance of approximately $1.3 million.
Oct. 3, 2014 Howard Bloomberg pleaded guilty to willfully failing to disclose a foreign bank account he controlled at UBS.
June 18, 2014 Gabriel Gabella pleaded guilty to failing to file a Report of Foreign Bank and Financial Accounts . In the plea agreement, Gabella agreed to pay a civil penalty of $3,140,346 and to pay $239,012 in restitution to the IRS.
May 27, 2014 Martin Lack, a former UBS AG banker, was sentenced to five years of probation and ordered to pay a $7,500 fine. Lack was charged in with conspiracy to defraud the United States. He assisted U.S. customers to open and maintain secret bank accounts.
Jan. 14, 2014 H. Ty Warner was sentenced to two years probation for tax evasion. Warner has paid more than $53 million in a civil penalty, as well as approximately $27 million in back taxes and interest.
You Don’t Need To Pay To Reclaim
There’s absolutely no need to pay anyone to do this. A growing market of companies offer to track down your old assets for a fee. Ignore them! It can easily be done yourself without forking out the cash.
Depending on the type of product your assets are in current accounts, savings, pensions, or various investments a selection of organisations provide facilities to help search for unclaimed assets, many of which can be done quickly and at no cost online.
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Protect Your Data & Personal Info
Some people might want an anonymous bank account to protect themselves from identity theft and cybercriminals. If your name, personal details, and account information are easily accessible and splashed all over a banks internal system, youre vulnerable to identity theft and cybercrime.
For example, JP Morgan Chase was hacked and data on more than 80 million clients was stolen in 2014. Capital One had the same thing happen and personal details on over 100 million clients were stolen in 2019. The list goes on.
Why Its Critical You Create Your Bitcoin Bank Account Right Now
Theres one thing that throughout history has sent money soaring
In a word, its this:
- Acceptance
- Acceptance to exchange for other goods.
And according to our research, the acceptance level for Bitcoin is about to explode.
For example, at the beginning of 2013, there were a little over 2,000 businesses that accepted Bitcoin.
Today, there are more than 21,000 merchants that accept Bitcoin.
By the end of this year alone, it could be 10 or 20 times that.
Listen, were on the verge of Bitcoin becoming a mass market-accepted payment system.
And when Bitcoin goes fully mainstream, we could see the value of accounts absolutely skyrocket
As it grows, it may continue to make its users extremely wealthy
Turning every $1,000 into $10,000 or even far more in just 12 months.
Already, a company called BitPay provides a payroll service to companies that enables them to pay their employees in Bitcoin.
BitPay already serves over 20,000 companies and is still growing its customer base by over 1,000 per week.
Shoppers can purchase merchandise at major retailers like Overstock.com, Amazon, CVS, and Target using Bitcoin as payment.
You can use it to buy a brownstone in New York City.
Or to buy poker chips at major casinos in Vegas.
You can even pay for flights across the country in Bitcoin at CheapAir.com.
All without ever getting out your credit card and jeopardizing your personal information.
In fact, it wont be long before you never need to get that credit card or debit card out again
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Looting The Wealth Of A Nation
Much of the money that left Venezuela has vanished from public sight. FinCEN Files documents offer a rare view into where some of it went, and the banks that helped send it on its path.
The insight comes from the banks themselves.
A bank is required to send a suspicious activity report to FinCEN if it knows, suspects, or has reason to suspect that a transaction moving through the U.S. involves criminal money or has no apparent business purpose. These reports do not constitute criminal accusations, but they provide the financial systems strongest line of defense against corrupt politicians, drug kingpins and ordinary criminals laundering ill-gotten gains. Lenders are supposed to actively seek out and report transactions that raise red flags for potential financial crime.
Instead, the FinCEN Files documents show banks often filed reports only in response to bad press about clients and sometimes, as they faced inquiries into their own actions.
The Miami branch of Banco Espírito Santo, a Portuguese lender admonished by the U.S. government in 2005 for opening secret accounts for Chilean dictator Augusto Pinochet, processed more than $262 million in transactions linked to Ceballos.
Later in 2014, the Wall Street Journal reported that U.S. authorities were investigating Espirito Santos Miami branch for suspected money laundering linked to Venezuela.
Banks that have been tied to suspicious dealings related to Venezuela have faced varying responses from regulators.
Do Not Log Into Shared Devices
When you are banking online, do not log into your bank account through a shared device.
Remember:
Your browser will likely store your username, password, and browsing history. Your partner could easily stumble upon the secret account when using the same device.
If you only have shared devices, then one option is to delete your browser history.
However, it can be tricky to completely erase or secure your browsers history without raising some red flags.
So, the better option is to just avoid shared computers.
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