4 ms·

Maybe I just haven't had enough coffee this morning, but I don't understand the scenario you're describing. Could you elaborate?

by ellard 4y ago

SOTGO 4y ago
Instead of paying for what the dealer is selling you rent his car for the same amount of money. You don't actually drive it (so it costs the dealer nothing in depreciation) but now the dealer has the appearance of a legitimate income stream.
- ellard 4y ago
  Ah, gotcha. Thanks!
Cederfjard 4y ago
If you read ”dealer” as ”car dealer”, think instead ”drug dealer” or similar.
- DaiPlusPlus 4y ago
  I'unno, being a car dealer is a pretty dodgy line of work. A huge barrier to wide adoption of BEVs is because dealers won't sell them because BEVs have far lower vehicle service requirements (no oil changes, no 20,000mi servicing, etc) which are normally half their revenue stream. Car dealers, en-masse, are happy to see the world burn than do-their-part and transition the world away from fossil-fuel cars simply due to their bottom-line.
JumpCrisscross 4y ago
> Maybe I just haven't had enough coffee this morning, but I don't understand the scenario you're describing. Could you elaborate? Beth has dirty money. Bob, a friend of Beth’s, “rents” her car. (There is no car. Maybe Bob pays Beth over Turo and then Beth gives Bob the dirty cash.) Beth now has the appearance of legitimate income.
- bravo22 4y ago
  Bob has the same problem as Beth in showing the sources of his funds as being legitimate to justify his lavish spending on car rentals.
  - creato 4y ago
    I think the parent comment has this wrong. This isn’t about laundering a big pile of dirty cash into a pile of clean cash. It’s more a way for black markets to take credit cards by “renting” cars. But it only works up to a small scale and for individual customers. It still seems risky for those involved because there is a paper trail linking the buyer and seller in the case the buyer gets busted.
- azinman2 4y ago
  But Bob will have to deposit this dirty cash at some point. With enough cash, it’ll raise alarm bells unless Beth has A LOT of friends who can deposit $600 each.
  - JumpCrisscross 4y ago
    > Bob will have to deposit this dirty cash at some point This is a layering mechanism, designed to obfuscate and distribute dirty cash. There may be many Bobs. Or Bob may be fine running cash to Mexico whereas Beth is not; this lets Bob sell that service to Beth. (I’m also not sure how much Turo requires rentals be settled through its platform. If it allows off-platform billing and settling, there is no need to reimburse with dirty cash.)
    - azinman2 4y ago
      They must otherwise how would Turo make money? It’s not a charity…
  - DaiPlusPlus 4y ago
    Who said anything about it being physical cash?

Maybe I just haven't had enough coffee this morning, but I don't understand the scenario you're describing. Could you elaborate?

by ellard 4y ago

Maybe I just haven't had enough coffee this morning, but I don't understand the scenario you're describing. Could you elaborate?

SOTGO 4y ago

Instead of paying for what the dealer is selling you rent his car for the same amount of money. You don't actually drive it (so it costs the dealer nothing in depreciation) but now the dealer has the appearance of a legitimate income stream.

ellard 4y ago
Ah, gotcha. Thanks!

Cederfjard 4y ago

If you read ”dealer” as ”car dealer”, think instead ”drug dealer” or similar.

DaiPlusPlus 4y ago
I'unno, being a car dealer is a pretty dodgy line of work. A huge barrier to wide adoption of BEVs is because dealers won't sell them because BEVs have far lower vehicle service requirements (no oil changes, no 20,000mi servicing, etc) which are normally half their revenue stream. Car dealers, en-masse, are happy to see the world burn than do-their-part and transition the world away from fossil-fuel cars simply due to their bottom-line.

JumpCrisscross 4y ago

> Maybe I just haven't had enough coffee this morning, but I don't understand the scenario you're describing. Could you elaborate? Beth has dirty money. Bob, a friend of Beth’s, “rents” her car. (There is no car. Maybe Bob pays Beth over Turo and then Beth gives Bob the dirty cash.) Beth now has the appearance of legitimate income.

bravo22 4y ago
Bob has the same problem as Beth in showing the sources of his funds as being legitimate to justify his lavish spending on car rentals.
- creato 4y ago
  I think the parent comment has this wrong. This isn’t about laundering a big pile of dirty cash into a pile of clean cash. It’s more a way for black markets to take credit cards by “renting” cars. But it only works up to a small scale and for individual customers. It still seems risky for those involved because there is a paper trail linking the buyer and seller in the case the buyer gets busted.
azinman2 4y ago
But Bob will have to deposit this dirty cash at some point. With enough cash, it’ll raise alarm bells unless Beth has A LOT of friends who can deposit $600 each.
- JumpCrisscross 4y ago
  > Bob will have to deposit this dirty cash at some point This is a layering mechanism, designed to obfuscate and distribute dirty cash. There may be many Bobs. Or Bob may be fine running cash to Mexico whereas Beth is not; this lets Bob sell that service to Beth. (I’m also not sure how much Turo requires rentals be settled through its platform. If it allows off-platform billing and settling, there is no need to reimburse with dirty cash.)
  - azinman2 4y ago
    They must otherwise how would Turo make money? It’s not a charity…
- DaiPlusPlus 4y ago
  Who said anything about it being physical cash?