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The US gov could pull a FACTA if they really cared: Institutions and employees found to process more then a specified percentage of scammed funds/giftcards get
by Zuiii 4y ago
The US gov could pull a FACTA if they really cared: Institutions and employees found to process more then a specified percentage of scammed funds/giftcards get sanctioned, thereby cutting them out of the defacto world financial system.
This approach works extremely well for FACTA, so much so that some foreign banks bend local laws to comply. Scammers would get absolutely destroyed if this was implemented.
- kube-system 4y agoThere aren’t any legitimate foreign companies involved in gift card scams, just the scammers stealing otherwise legitimate gift cards issued for US companies and selling them on secondary markets. Google doesn’t really have any way to manage what people do with a physical Google Play gift card, nor does the grocery store that sells it. If you were to make those parties responsible for fraud, they’d simply stop selling them. Gift card are neither of their primary businesses. Scammers could also just move on to cryptocurrencies, which are already subjected to sanctions in some cases with varying degrees of success. Banks are easier to sanction because they have a more tangible physical presence.