4 ms·
I don't see how this helps launder money. Dirty cash -> bitcoin via these machines -> legitimate goods and services -> clean money. "From anonymous donors via
by mootothemax 14y ago
I don't see how this helps launder money.
Dirty cash -> bitcoin via these machines -> legitimate goods and services -> clean money.
"From anonymous donors via bitcoin ATMs" is not a plausible answer.
I very much agree with you - and that is not what I meant. It's worth remembering that money laundering is not cheap; getting 50% of the original amount in "clean" money would be an incredible deal. So the aim would be to make use of services that either convert bitcoin to ready goods, or better yet, run a service and create fake customers who pay via bitcoin.
It's the same principle as running a second-hand car showroom (although, in the UK at least, that is no longer a realistic option) or currency exchange (I believe this is more difficult, but is still an option in some countries). Both are cash-heavy businesses, making it very easy to mix in dirty cash with clean, and account appropriately. There's a reason why many years ago casinos appealed to mobsters.
Edit: Just seen that you're based in Warsaw as well - if you ever fancy meeting up, send me a mail! :)
- praptak 14y ago> Dirty cash -> bitcoin via these machines -> legitimate goods and services -> clean money. Ok, my original thought was that cash is already anonymous, so the first step provides little value laundering-wise. But I see how Bitcoin removes the requirement to deal with cash (for the fake business) while still keeping the anonymity, which in turn makes the hypothetical business much more convenient. Edit: mail sent :)