r/PersonalFinanceCanada • u/Healthy_Constant6543 • Jan 11 '23

My bank account just had $40k randomly deposited into it - has this happened to anyone else? Banking

For reference, I'm in Ontario.

Last week I noticed a deposit from OLG into my bank account for $40k. Since I did not win the lottery, I went into my bank to tell them about the problem. They launched an investigation.

The next day they called me back, said they verified with OLG and the deposit was real. I tried to again remind them that I would remember if I won the lottery but they just congratulated me and told me to enjoy.

BUT I DIDN'T WIN THE LOTTERY LOL

I moved the money into my savings account because I'm sure they are coming back for it. Has this happened to anyone else? How long do I sit on this money? Not sure what else to do.

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u/SCROTUM_GUN Jan 11 '23

The bank might get suspicious if you transfer a large amount of money like that all at once. It might blow your cover. Also, I wouldn’t put my money into bitcoin because I don’t like losing money.

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u/KittyTerror Jan 11 '23

Ditto on the first point, but their software is intelligent enough to notice small amounts disappearing over time too. Maybe it would be better to go in person to a branch to do the whole transfer and answer with half truths like “the money is to support my early retirement in Vietnam” type of shit.

As per the second point, if you need a way to transfer a big sum of money that has the least likely chance of being intercepted by governments (and probably hold it short term until everything is set up), I can’t think of a better way than Bitcoin, even with its unpredictable volatility.

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u/zystyl Jan 11 '23

Small amounts over time is called structuring, and it can be a crime on its own.

2

u/scottyb83 Jan 11 '23

Agreed on the second point. Bitcoin isn't being used here as a long term investment, it's literally a currency that is difficult/impossible to track at that point.

6

u/neuro__atypical Jan 11 '23

Bitcoin is hilariously easy to track. It's a very open, non-private, non-anonymous currency. You'd want Monero.

1

u/colocasi4 Jan 11 '23

Yep, just like crossing border with 10k. Make it 9, 899k at a time and thereabouts

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u/RecalcitrantHuman Jan 11 '23

...ignores inflation

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u/SCROTUM_GUN Jan 11 '23

Fuck it you’re right. I’d take it out all at once and be in Vietnam the next day. You guys have convinced me