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There are organised groups that will launder funds via Twitch tips. Another common pattern is to sell a digital good like an ebook. Money laundering cannot pos
by monero-xmr 3y ago
There are organised groups that will launder funds via Twitch tips. Another common pattern is to sell a digital good like an ebook.
Money laundering cannot possibly be stamped out. The best you can do is try and limit giant one-time affairs through a bank, but laundering money is extraordinarily easy, with crypto or not.
- sabellito 3y agoHow do they launder money via Twitch tips if the money already needs to be "in the system" for tipping to be possible?
- olalonde 3y agoMultiple accounts, small amounts. The hard part about money laundering is not really getting money in the system. It's building a credible story for when someone (e.g. the police) asks where your money comes from. In this case, "I'm a popular Twitch streamer". Products that have high profit margins (e.g. streaming, digital products, gambling, software, etc.) are ideal for that and why they are often considered "high risk" by financial institutions.
- deleted 3y ago[deleted]
- dmbche 3y agoIt was a way to extract money from stolen credit cards! It's quite easy to pay for card info, but difficult to use it without it being brought back to you.
- RhodesianHunter 3y agoMoney laundering isn't about getting money into the system, it's about making it look like it comes from sources that aren't illegal. If entity A can set up hundreds of fake twitch accounts, all of which tip entity B from A's pool of illegal money, then B can claim that it's revenue is entirely above board, it just came from Twitch tips.