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You're making it sound like the credit card companies are idiots. If a huge portion of their stolen cards are buying an obscure app with a $1000 price tag, they
by sushid 8y ago
You're making it sound like the credit card companies are idiots. If a huge portion of their stolen cards are buying an obscure app with a $1000 price tag, they're going to notify the authorities.
- white-flame 8y agoLaundering money means someone is using their own dirty money in a clean transaction, not further stealing others' money. This is all happening after the initial theft has taken place.
- chatmasta 8y agoCredit card companies don’t have product level insight. They would just see payments to “Apple Inc.,” hardly a rare occurrence for any customer.
- AngryData 8y agoWhy would the credit card companies even want to stop this? For every transaction they are earning processing fees, the only thing they need is a small amount of plausible deniability to shed any legal liability. They are basically being paid to look the other way.