Topic: Could Al-Qaeda use Bitcoin ? (Read 4573 times)

Truth, he speaks it.

You are living in a fantasy world. What on earth would al-Qaeda want to use BitCoin for when they could use cash? Given the very few ways to cash in or out large sums and the very many ways to move large amounts of cash around any terrorist use of BitCoin would be just plain silly. It's possible to send messages from anywhere to anywhere without the massive complexity of hiding them in BitCoin's blockchain.

Stop spreading American media style fear because it doesn't belong here. Every time you get molested at an airport, or get your papers checked by some psycho who really just wants an excuse to give you a really bad day remember your irrational fear of Al-Qaeda caused you to live in permanent fear of your own government. The terrorists won and they are called the TSA.

The easiest way to accomplish this would be to limit transfers above the cut-off limit (e.g. USD$10k w/the same day) to only those institutions that are regulated.  This doesn't prevent them from making multiple transfers, but even US banks don't document multiple small transfers.

I'm new to bitcoins and just learning.  But I've dealt with security in the US financial verticle for a while.  Judging by a quick look around your site.  I'm not totally sure if or how you would be regulated.  It doesn't look like you deal with actual cash. Unless you physically accept cash (as in dollars/checks) or disperse cash to individuals (I didn't see this, but I could have missed it), then your obligations are likely defined by your interface institutions.

What you should to do is write up a risk mitigation plan (based on your interfaces) that you can present in the event that your services are questions by any authorities. Then implement it.  That will give you standing for having considered the issue and addressed it within the current regulatory requirements. It will also save a lot of fumbling if you're drawn into any investigation or some sort of an audit.

As a minimum, you need a data destruction policy (that would be part of your risk mitigation plan) that is followed religiously - even if you do not have the entire risk mitigation plan.  I say this because IF an investigation is started the first thing you will have to justify is any deleted data.  Without a written plan (with evidence of enforcement), they can try to claim that you deleted 'evidence' or force you into expensive data mining to answer obtuse questions.

+1

This is very true.

Only if you are extremely careful. It's difficult to be completely anonymous with bitcoin.

They could be using it for money transfers because it helps them transfer money without being detected.

Sleeper cells don't exist.
 
They get over here, realize how cool it is, you can go to strippers, watch awesome movies, go to Disney Land, drink beer w/out getting your hand cut off... and realize "No, I don't want to blow this place up, this is awesome!" 

Fine, I'll shut up about Islam. I'm not western, and what you say it's easier said than done. But I'll shut up.

That's a good idea, they would no longer have to give the CIA a cut for distribution. 

Amen, so sick of seeing Stardusts patronizing posts about her persecuting Islam being shoehorned into every discussion possible.
Dont like it - great, get of your fucking laptop and go do something to help these oppressed women in Islam, wait what - your a spoiled western princess who wouldnt dream of stepping outside of her own safety zone to help others.......... shocking !!!.


Now in answer to op - they would be stupid not to, Its an excellent system for instant "near anonymous" global money transfer, on top of which your accounts cannot be frozen.
IMHO its every crime syndicates and money launderers wet dream.

We will soon know I guess if we see Al-Qaeda on Silk Road selling off their opium stock

edit: as other members pointed out its quite likely bitcoin does not hold enough value to suite most large organizations for money laundering.

It could be on the rise in those circles, Id imagine it would be excellent for paying/sending money to an operative on a field mission who is in a city (lots of potential buyers).
Imagine Walt from breaking bad flashing a QR code to a bulk meth distributer, Jesse goes "yo' what are you waiting for man, bitcoin him biatch !".

Your right, it does sound like that.

However, in this case Im the one going to jail if I dont allow the probing.

Am I the only person who understands the true joke intention of the post?
Anyway there is no real case here, the problem is not with the currency but the group, they will always be a way of transferring money around the globe under the radar its like trying to combat piracy by blocking sites like piratebay... it doesn't work

You sound like the kind of person who is willing to give up his freedoms for the fight against "terrorism", the kind of person who wouldn't mind being anally probed at checkpoints.

It's cool, no one has noticed all the steganographic content in the blockchain except the US NSA. So far so good.

+1
Nailed it, #3 and #4 particularly. What you describe is a generic template, you could substitute many degenerate ideologies for Islamophobia. Pull out #1 and substitute "bitcoinism" for "Islamophobia", works like a charm.

Al Qaeda don't need bitcoin they already have a hawalla system which works much better for them, or they can bribe any bank employee in egypt or pakistan to transfer money for them. Judging by their recently exposed COMSEC, I doubt any of them would bother to use it since they don't even pgp encrypt their emails to each other.

A better question would be could Anders Breivik had used bitcoins to buy anonymous weapons and explosives? Sure he could have, but again didn't need to because there were other methods at his disposal like his phony farm nobody checked he could use to import watched chemicals.

Could Mossad operatives use bitcoin to transfer money to agents doing assasinations? Sure they could, but why bother when they have unlimited fake IDs they can make to open real companies and bank accounts.

Could drug cartels use bitcoins to launder billions? Sure, but highly unlikely. Why bother when they have a network of sucessfull laundering already set up that seems to work for them. There also probably isn't enough bitcoins in the world to satisfy one day's worth of drug trafficking profits laundering for even the smallest mexican cartel.

Can human trafficking mafia in the Ukraine sell illegal pornography using bitcoins? Sure they could. Do they? No they buy stolen bank accounts and prepaid cards and whatever else mafia usually does.

Can a terrorist in the USA buy an anonymous rifle with bitcoins and go on a rampage? Sure but why would they when you can easily pick up the Phoenix newspapers or search craigslist for legal mail order weapons that don't require ID anyways. Or go to a gun flea market with phony papers and buy anything you want. Did cho need bitcoins to shoot up Vtech? nope.

Criminals are criminals and have the entire system to exploit to their advantage. Bitcoin for them isn't needed. Last time I checked there were still a lot of open computer fraud forums operating in CIS and Russia that aren't using bitcoins.

It's not "Islamaphobia"... it's just the same old atheist idiots who got bored of Christianity and have now found a new flavor of the month.  So don't feel singled out.  It was bound to happen sooner or later.

That's not my point.

If you want Bitcoin to exist in this 'present status quo', we must be compliant with their laws as we actively try to change them.

This is not just my view, but then view of many including assemblymen we're actively working with to repeal state regulations.


No, and thats an insulting thing to say. I was born and raised mere blocks from the world trade center and lost friends


Look, you and I can debate wether or not these regulations and compliance laws actually mean anything or prevent anything.

At the end of the day, your not the one on the front lines doing the fighting.

So you were, what, like 10 years old when 9/11 happened?

Even if you believe the official conspiracy theory of 9/11, it probably cost less than $5000 per person.  And the hijackers who were "known suspected terrorists" were being monitored by the CIA as they entered the country anyways (yet this fact was conveniently hid from the rest of the US government).  And they were using credit cards in their own names, so all of their transactions were tracked and monitored.  They weren't even using cash.

So, really, I for one am sick of hearing about this "terrorism and money laundering" bullshit.  Because that's 100% exactly what it is.  What is your suggestion, exactly?  You want to prevent people from transferring $5000 at a time?  That will create far more terrorists than it will hinder.  You want to monitor all transactions and turn that info over to the government?  Hah, just see how many terrorist attacks that prevents.

Fuck, dude.  Either wake up and get a clue, join the rest of the adults here in reality.  Or stop trying to bullshit us, if that's what you're doing.  Don't try to tell us you're really afraid of "terrorists"...

there isn't such thing as "money laundering" or "terrorism" in a real free market governed world. You base your assumptions on shaky grounds after being "washed" for your whole life. "Money laundering" is the term they like to use for the exchange of value without without proper screening or reporting. "Terrorism" defines the re-action with force to previous interference into a country or organization's internal affairs by force, extinct in a worldwide bitcoin economy.

Present status quo and bitcoin are incompatible by design so if you stand up for bitcoin wait for the other extreme to use any means available against it. It will not matter if you comply with their laws as you already do.