Waraka Bank back up???

[Jerry]

Has anyone found out if a major bank is backing up Waraka? If there is... is it HSBC?

I ask this because HSBC is on the IRS radar. Alot of people have off shore bank accounts and the IRS is cracking down. Many bank accounts particularly in the Cayman Islands are now being monitered. Until lately it was virtually impossible for the IRS to track transactions of these off shore accounts. Now they are apperantly tracking ANY credit card purchases made in the U.S. by a offshore account and the IRS is auditing thos individuals. The patriot act now made this possible.

NBK however is still off the radar and Credit Bank of Iraq belongs to NBK.
Just food for thought.
Jerry

[iraqidinar2005]

Thank you very much for the info. Damn...That was the bank I was looking into getting into. Will have to reorganize my plans!!! Did you read an article about this or is it from a trusted source?

[Jerry]

I read an article about it some months back. It mainly was talking about the bank accounts people had set up in the Kayman Islands. I asked about the HSBC thing because I notice fron the board the wire transfers for Waraka go through a HSBC bank in Jorden. I supposed you can do a search on Off shore accounts-Creditcard purchases U.S. It just stuck out in my mind because Im use to having off shore accounts as being a contractor who travels the world regularly.

[kujikiri]

Here is the IRS article:
http://www.irs.gov/newsroom/article/0,,id=105689,00.html

You probably saw this USA article, which says the same thing:
http://www.usatoday.com/money/perfi/taxes/2003-01-14-irs-amnesty-program_x.htm

A site I frequent you might want to check out:
http://www.tax-news.com/asp/newsjca.asp

[Jerry]

Here is the IRS article:
http://www.irs.gov/newsroom/article/0,,id=105689,00.html

You probably saw this USA article, which says the same thing:
http://www.usatoday.com/money/perfi/taxes/2003-01-14-irs-amnesty-program_x.htm

A site I frequent you might want to check out:
http://www.tax-news.com/asp/newsjca.asp

Thanks Kujikiri!

I really appreciate you posting the links. Its great to seem someone with "off shore" knowledge and who keeps up with taxes. Please continue posting because we definatly need the insight. Thanks tons!!!
Jer