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Online Casinos in general: Obligation to report to Bundesbank

Topic created on 06th Feb. 2018 | Page: 1 of 1 | Answers: 8 | Views: 7,519
Allanon
Rookie

Obligation to report to Bundesbank

6th Feb. 2018, at 11:14 pm CET#1
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Hello,

i was lucky and won a large sum in two casinos. The highest single transfer was 10000 €. Since I have now always lost something risky and then also won again there is already something together. About 36000 are received as transfers to my account.

Now the question I must now report to the Bundesbank? Have read here the single transfer only from 12500 must be reported. So rather report or not?

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Daniel
Elite

Obligation to report to Bundesbank

7th Feb. 2018, at 12:22 am CET#2
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So what you are referring to is the AWV reporting requirement.

As far as I know, only single transactions from abroad of 12,500€ and more have to be reported to the Bundesbank for statistical purposes. Piecemeal transactions are not allowed. That is, if you win in online casino A 50,000 € and you can pay out 10 times 10,000 € from this casino, then you must report the 50,000 €.

However, if you play in 5 casinos and win and withdraw 10,000€ per casino, then you do not have to declare anything.

As far as I know, you also do not have to declare anything if you win 5 times 10,000€ over the month in an online casino. However, I am not really sure about this point.

However, this AWV reporting obligation is generally not strictly prosecuted and the omission is also not a criminal offense, but a misdemeanor, which can be punished with a fine of maximum 30,000€. 30.000€ sounds like a lot but this rule basically applies to large companies that make million-dollar transactions every month and not to private individuals who win once in an online casino. I don't think that if you make a big win once in your life and fail to report it, you will get a fine of 30.000€ That would be absolutely not proportionate.

If you want to be on the safe side, the best thing to do is to ask your bank and get a form (if necessary) that you can fill out and that's it

The AWV reporting requirement is purely statistical and has nothing to do with the tax office or any other authorities.

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Allanon
Rookie

Obligation to report to Bundesbank

7th Feb. 2018, at 02:52 pm CET#3
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It's all very strange. I called them today. The Bundesbank only asked how much and from which country. They didn't ask for my name or account number. Theoretically, anyone could call and say anything.

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RiverSong
Legend

Obligation to report to Bundesbank

7th Feb. 2018, at 06:43 pm CET#4
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Daniel wrote on 02/07/2018 at 00:22: So what you are referring to is the AWV reporting requirement.
... .

the daniel could yes, because such and other topics are asked again and again and no one finds these threads more, make this sticky. saves you a lot of writing work and time, daniel, right?

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Daniel
Elite

Obligation to report to Bundesbank

7th Feb. 2018, at 07:03 pm CET#5
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Iseedeadpeople wrote on 02/07/2018 at 18:43
Daniel wrote on 02/07/2018 at 00:22: So what you are referring to is the AWV reporting requirement.
... .

the daniel could yes, because such and other topics are asked again and again and no one finds these threads more, make this sticky. saves you a lot of writing work and time, daniel, right?

Is right what you write. I will as soon as I have time the complete forum durchforsten, make me my thoughts and everything better structured.

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RiverSong
Legend

Obligation to report to Bundesbank

7th Feb. 2018, at 07:14 pm CET#6
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Daniel wrote on 02/07/2018 at 19:03
Iseedeadpeople wrote on 02/07/2018 at 18:43
Daniel wrote on 02/07/2018 at 00:22: So what you are referring to is the AWV reporting requirement.
... .

the daniel could yes, because such and other topics are asked again and again and no one finds these threads more, make this sticky. saves you a lot of writing work and time, daniel, right?

Is right what you write. I will as soon as I have time the complete forum durchforsten, make me my thoughts and everything better structured.

the forum too just noticed that you always answer the same questions in detail and with different text, but the sense has remained the same. costs a lot of time and your brain would have to smoke and since the forum is now also continues to grow, it only makes sense your valuable time for other things to be able to use. so main questions that arise again and again in an area answer 1 time and refer the questioners to this place. there then also only allow your post otherwise it will soon be confusing again. discuss then in the respective thread further, solution good?

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Daniel
Elite

Obligation to report to Bundesbank

7th Feb. 2018, at 07:30 pm CET#7
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Solution well but I honestly forgot that there are already such in topic in our forum. My brain is also not what it used to be - too many spins done in my life. I beg your indulgence

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RiverSong
Legend

Obligation to report to Bundesbank

7th Feb. 2018, at 07:44 pm CET#8
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Daniel wrote on 02/07/2018 at 19:30: solution good but I honestly forgot that there is already such in topic in our forum. My brain is also not what it used to be - too many spins done in my life. I ask for your indulgence

hihi, can now say da helps the search function

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Daniel
Elite

Obligation to report to Bundesbank

7th Feb. 2018, at 07:52 pm CET#9
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Iseedeadpeople wrote on 07/02/2018 at 19:44
Daniel wrote on 02/07/2018 at 7:30 pm: solution good but I honestly forgot that there is already such in topic in our forum. My brain is also not what it used to be - too many spins made in my life. I ask for your indulgence

hihi, can now say da helps the search function

Sure, but I'm not only stupid, but unfortunately also lazy

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