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I think it's just a sign of the appetite for real financial privacy, which is not possible in the U.S. because of money laundering and "know your customer" laws

by ipsin 11y ago

I think it's just a sign of the appetite for real financial privacy, which is not possible in the U.S. because of money laundering and "know your customer" laws. There's no such thing as a "prepaid, anonymous credit card" that can't be linked to you as a person.

exclusiv 11y ago
Yes there is. You can buy prepaid cards at grocery stores or malls, although privacy generally erodes when you want to ship.
- ipsin 11y ago
  Are you sure? I've looked at these, and every single one that I investigated involved some kind of activation process that meant giving up identifying information (or lying, which I'm not willing to do).
  - darksim905 11y ago
    AMEX gift cards => pay cash => leave => enjoy. when paying with said card? provide address, fake name, 3 digit code on back of card "A HAPPY CUSTOMER4U" as name on card. Done.
    - ipsin 11y ago
      Thanks for the tip. I'm not familiar with the laws around providing a fake name or address, but it's good to know that's an option. (My concern is that, if there's any kind of issue on the payment processor's end, it seems like the use of the fake identity could be misinterpreted as criminal fraud)
      - ryanlol 11y ago
        > it seems like the use of the fake identity could be misinterpreted as criminal fraud How could that possibly be the case? Who's being defrauded?
tajen 11y ago
As a result, USA is not Greece. USA isn't bailing out, USA doesn't have to beg money to Germany or court Putin's protection. Greece has a massive fraud problem, half of the houses aren't finished because of tax schemes, everyone pays everything cash, they have high taxes but their tax money gets laundered into subgroups of people without the projects being built or achieved. If Greece went to a full-debit-card economy, they would be able to trace who doesn't pay their taxes (hint: everyone and their smugglers) and probably step into the developed world. But yes, it would be bad for privacy, i.e. it gives the govt power to levy a mandatory tax, for example to increase the wage of the prime minister.

by ipsin 11y ago

exclusiv 11y ago

Yes there is. You can buy prepaid cards at grocery stores or malls, although privacy generally erodes when you want to ship.

ipsin 11y ago
Are you sure? I've looked at these, and every single one that I investigated involved some kind of activation process that meant giving up identifying information (or lying, which I'm not willing to do).
- darksim905 11y ago
  AMEX gift cards => pay cash => leave => enjoy. when paying with said card? provide address, fake name, 3 digit code on back of card "A HAPPY CUSTOMER4U" as name on card. Done.
  - ipsin 11y ago
    Thanks for the tip. I'm not familiar with the laws around providing a fake name or address, but it's good to know that's an option. (My concern is that, if there's any kind of issue on the payment processor's end, it seems like the use of the fake identity could be misinterpreted as criminal fraud)
    - ryanlol 11y ago
      > it seems like the use of the fake identity could be misinterpreted as criminal fraud How could that possibly be the case? Who's being defrauded?

tajen 11y ago

As a result, USA is not Greece. USA isn't bailing out, USA doesn't have to beg money to Germany or court Putin's protection. Greece has a massive fraud problem, half of the houses aren't finished because of tax schemes, everyone pays everything cash, they have high taxes but their tax money gets laundered into subgroups of people without the projects being built or achieved. If Greece went to a full-debit-card economy, they would be able to trace who doesn't pay their taxes (hint: everyone and their smugglers) and probably step into the developed world. But yes, it would be bad for privacy, i.e. it gives the govt power to levy a mandatory tax, for example to increase the wage of the prime minister.