I thought gambling addicts were broke?
I thought gambling addicts were broke?
They wind up broke, sure, because the house always wins in the end. But that doesn't mean they're broke all the time. Winning is what makes it addicting in the first place. You're up $100. Then you're up $1000. Then you're down $2000. That's how it works
This is serious, you need to make sure you know the origins of the money even if it is legit.
Here in Sweden your earnings are reported directly to the tax office, banks are also required to verify the origin of large payments.
How does taxes work in Romania?
Here they are being pulled straight from your salary before you get it, but selling financial instruments works differently, I sold some shares from an inheritance to by a car last year, I had to report the income when doing my taxes, I also had to use a standard earnings calculation as I didn't know the value of the shares when I got them.
There is a decent possibility he is a money mule, he may be unaware that what he is doing is illegal. There is some precedent specifically for criminals in China using people overseas as money mules.
Straw man for money laundering maybe? The "receive, keep x percent, send the rest on" kinda scheme.
I guess that's possible, I was just saying the two most likely things that came to mind. I wouldn't necessarily expect money launderers to rely on a teenager, but I also don't have any personal experience in this area.
There are several possibilities unrelated to lovers. As others have mentioned, cryptocurrency is likely. Selling drugs is also possible. Organized crime in China is very real so it could be other things besides drugs.
It could also be a relatively legitimate side-hustle. Art, music, or video production could yield this kind of money for a big project, especially over time.
If they're not paying taxes, this is a problem no matter what. That is too much money for the banks to not take notice and report on it. This needs to be addressed either way.
How much are "big transactions"? That will help us understand what kind of payments are being received.
Yikes. That's a LOT of money to be received ~weekly from an international source.
That means this has been going on for 2-4 months
This amount of money is likely to be reported to tax authorities if it hasn't been already.
Is your son a talented artist of some kind? Musician? Video editor? Anything that might get them a contract job online that could be billed in different amounts each week? (A typical job would pay the same amount every week, whereas if they're billing for "hours worked" it will be different each time)
I'm trying to be as generous as possible with explanations but I think you are right to be concerned (unless your son has a reason he would hide money from you, like a history of having his possessions disrespected or taken from him)
Possibly money mule. Could be holding it for a time then will transfer it out later. Your child's percent could be taken then.
It is possible that the sender made a misstake and sent the money to the wrong account, but this needs to be dealt with.
If the banks in Romania are anything like the banks in Sweden, they will report this to the tax office.
Might be a scam, where they send you large amounts of money, you pass it on to some other account. Then the original transaction is revoked and you're left holding the bag.
Ask him.
does he make YouTube videos?
This sounds serious. Can't help but think about the possibility of human traffic.
I would start by telling him he needs to pay rent.
He is an adult, mind your own business until he approaches you for advice.
Don't ever have kids. If you already have, I'm sorry for them.
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Start by apologizing for looking into his bank account? Then the best approach might just be going along with it at first.
If it's crypto, that could easily be a gambling addiction. If they're dealing drugs, they might be in danger if you force them to just stop.
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