Online Privacy
Why You Need an Anonymous Offshore Bank Account
By Ian Wetterman

The best way to get an anonymous offshore bank account may not require a trip to the bank, but rather breaking it.

The increasing pressure of some so called “developed nations” on their citizens privacy residing or doing business offshore has surpassed the limit of ludicrous. Everyday we hear of new war stories about government regulators inquiring sensitive “information” about their citizens’ dealings offshore. Due to this increasing presence of big brother, and the enormous stick in which he wields, many smaller tax havens have caved in to provide any and all information that may be whimsically queried. The simplicity of opening a bank or merchant account has been reduced to an unforgettably unpleasant experience in all the best jurisdictions. Beware of the simplicity that remains with some of the smaller less reputable locations as what seems too good to be true, usually is. The solution to an anonymous offshore bank account may not even require a bank, but a bet.

Offshore financial transactions come and go in many forms; we usually think of banks foremost, but there are also brokerage accounts, numerous derivates of insurance policies, and less traditional forms such as international trade (forfeiting – buying and selling of discounted trade debts), auctions, and the granddaddy of them all – wagering. The legalization, promotion and regulation of offshore online gaming has been one of the largest economic booms for many Caribbean Nations. Aruba, Curazol, Costa Rica and the latest financial center to enter the game, Panama, have created thousands of jobs by taking legal offshore bets. It is clearly legal to enter into wagering transactions in these jurisdictions with “licensed” operators; however, one must always check on their own jurisdiction for full compliance. One of the main benefits that these financial transactions posses is there anonymity.

The steps to opening an offshore wagering account are simple. Just download the casino’s software package and register to begin wagering. Once you have your numbered wagering account, then the only thing remaining is to fund your account through bank wire, checks, netteller, western union, or virtually any means possible. Netteller.com – a privately held Canadian company – is by far the most popular and worth the time of looking into. Pablo Escobar beware! – online casinos are still required to report “suspicious activity” so don’t plan on showing up at their door with a duffel bag full of fresh twenty dollar bills. How do I get access to my money? Is all that remains to be answered. Well, again the options are limitless, bank wire, ACH, curried check, netteller, western union, and a prepaid anonymous debit card.

By far, the most convenient and popular method of receiving payments from your offshore account is the introduction of the anonymous stored value / debit card. Once you have your wagering account, most online casinos send you a “complementary” debit card for which you can receive your winnings. These cards are accepted virtually everywhere in the world that a normal debit card is accepted. They work on a stored value principle, whereas the client can request that money from his wagering account be made available on the card. This request is accomplished by a simple toll free phone call with a challenge and password by a professional customer service representative or simply through an online interface for the net savvy. The online account acess is catching on, but some people prefer to talk to a live human being at 3am. The casinos are notorious for their customer service and options to clients.

Pros
• Reporting - minimal – if any requirements
• Ease – Can open an account instantly online
• Liquidly - Fast access to cash – especially with the ATM card
• Secure – licensed and bonded operators only here please
• Access – unlimited internet access to your account and you are always only an 800 number away 24/7 – try to get a bank to compete with that one!

Pitfalls to an offshore wagering account
• Income - Sorry no interest income on your account balance
• Temptation – those computer games sure do look good don’t they?
• Spontaneous – couldn’t find anyone to bet with on the game – now you have one!
• Shysters – again, only licensed and bonded operators
• Stereotype – the Mrs. is complaining on which sites you are looking at again?

While this account may not be the best venture for everybody, it is not a bad idea to establish as many diversified means to establishing yourself offshore as possible. By far the easiest and less conspicuous path must always be considered. However, there are many pros and pitfalls that need to be addressed before taking the plunge – or punt for you sports fans.

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