cryptohunter
Active member
- PPF Points
- 2,738
- Increased risk of fraud and financial scams
- Complex and confusing regulations and legal requirements
- Potential for decreased transparency and accountability
- Possible difficulty accessing funds in times of emergency
- Higher fees and charges compared to domestic banking
- Reputation risks, as offshore banking is often associated with tax evasion and other illegal activities
- Difficulty in exchanging currencies, especially if the account is in a less commonly traded currency
- The possibility of stricter government regulations and increased scrutiny in the future
- Difficulty in resolving disputes or complaints
- Risk of violating domestic and international laws, which could result in severe penalties.
