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But it can also be: 1.) get "illegal" money from somewhere/anywhere. Create bank accounts under fake names with the "illegal" cash. 2.) host receives payment
by laurencei 9y ago
But it can also be:
1.) get "illegal" money from somewhere/anywhere. Create bank accounts under fake names with the "illegal" cash.
2.) host receives payment minus AirBnB fees 2 days later
3.) host transfers amount minus his own cut to criminals
4.) AirBnB never gets notified of anything - it's just another happy customer.
So the problem with this scenario is AirBnB never knows about the problem - so all the "bad" hosts can go on for long times, and you dont need as many accounts; thats where the "scalability" comes in.
- jasode 9y ago>Create bank accounts under fake names with the "illegal" cash. In USA, I don't see how this is "scalable" with the stringent "know your customer"[1] laws. Using a fake drivers license + fake Social Security Number to open a new bank account with a false name is not trivial. Many banks also require a thumb print for identification. The customer's face is also captured on security cameras as he walked through the bank to open the account. All of that can be cross-checked with the FBI. It seems the preferred method for criminals using banks to wash money is a "shell company" instead of fake personal accounts. E.g. Open a business account for a car washing company or restaurant. But then the criminal has to be careful and make sure his "pattern of deposits" does not raise suspicions. Any unusual banking activity could trigger an investigation for racketeering and money laundering. [1] https://en.wikipedia.org/wiki/Know_your_customer https://en.wikipedia.org/wiki/Know_your_customer
- philihp 9y ago4. Airbnb gets notified by their bank to provide restitution for the chargeback.