Originally Posted by equilec
On the positive side of post on cash payments living in Lithuania, a senior member said that bank wire is actually a great way to trace who these people are if or should anything happen or anyone who wants to take action if this program does go south.
That could be true in the case of standard banks and accounts. In this case, not so easy.
If you look at how they're doing the wire transfers, they are routed through Fortis Bank in Brussels, to a Fortis branch in Turkey (which both are real banks, as indicted by the SWIFT numbers) then to an ACCOUNT (not a bank) in the name of Rahim Bank LTD.
This likely is an account maintained for Rahim Bank aka Royal Allied High Investment Merchant Bank). You can find more information here: http://www.rahimbank.com
. Long story, but it's a bank registered in the Turkish Republic of Northern Cyprus (TRNC). TRNC is, depending on your perspective, an unofficial state within a state in northern Cyprus. You can find out more about TRNC here: http://en.wikipedia.org/wiki/Turkish...orthern_Cyprus
Basically, what all of the above means is that your money is being sent to an ACCOUNT for an "offshore bank" that is registered in a "country" that's generally not recognized as a country (by anyone other than Turkey anyway). Given that, it's probably going to be a big stretch to trace anything beyond the point that it hits Rahim Bank's account.
Checks go to First Oceanic Trust, an offshore agent and virtual office located in Latvia. See http://www.firstoceanictrust.com/index.php?page=virtual
The 27 Old Gloucester Street address looks to be a virtual office in London associated with First Oceanic Bank. See http://www.firstoceanictrust.com/index.php?page=virtual
. Again, a "bank" only in the most loose sense.
So, in the case of a check, it's being sent to a NUMBERED ACCOUNT at a virtual office in London which then is forwarding it to a vitrual office in Latvia where someone(?) will pick it up. Again, not easily traceable.
Western Union transfers aren't traceable. The names (all at the same address) could be aliases or actual people who they've recruited to serve as "local agents" to accept payments.
Bottom line is that you don't have much to go on as far as tracing the money or the actual identities of recipients.
Beyond that, what stands out in all of this is that it's an extraordinarily and unnecessarily complicated way for a legitmate organization to receive funds.