does ordering bitcoin debit cards expose us to the ID fraud?

Yuuto

hero member

Activity: 644

Merit: 501

Quote from: predic on June 30, 2017, 04:40:22 AM

this is general, not specific against any website. I included it alos in my signature... to remind people to avoid to give too much information about themselves.

bitcoin debit cards websites are companies registered in London by Lithuanians who demand from you your phone, ID and utility bill, that's enough for them to make offshore companies on your name without your knowledge and they can get a bank account and make financial crimes on your name, or they can simply sell IDs. don't give to anyone too much info.
why they need more than your ID when your local bank demands only ID?

what do you thin, does ordering bitcoin debit cards expose us to the ID fraud and financial criminality?
does the law in Britain really demands utility bill or just "know your customers" or ID and that's all.
anyone visited a bank and opened an account in the last period? did they ask for utility bill?
When I made a bank account in my country, my ID was all I need.

If you use some service that seem to be made with someone that doesn't even understand how html and css works and just made a BS site, it is possible. Though, stolen IDs aren't that useful these days because many bitcoin exchanges have to get you to do a live webcam verification. Fake ids are much more useful to criminals.

If you use a legit service though rarely do they process the info themselves, they generally use a third party verification service such as green id, and these companies are regulated quite stringently. I don't think there is a need to worry, because if anything happens to you, you have someone to blame

xypos

sr. member

Activity: 532

Merit: 250

Quote from: predic on June 30, 2017, 04:40:22 AM

this is general, not specific against any website. I included it alos in my signature... to remind people to avoid to give too much information about themselves.

bitcoin debit cards websites are companies registered in London by Lithuanians who demand from you your phone, ID and utility bill, that's enough for them to make offshore companies on your name without your knowledge and they can get a bank account and make financial crimes on your name, or they can simply sell IDs. don't give to anyone too much info.
why they need more than your ID when your local bank demands only ID?

what do you thin, does ordering bitcoin debit cards expose us to the ID fraud and financial criminality?
does the law in Britain really demands utility bill or just "know your customers" or ID and that's all.
anyone visited a bank and opened an account in the last period? did they ask for utility bill?
When I made a bank account in my country, my ID was all I need.

It is a real possibility if you are dealing with more shady companies, such as advcash which is a bitcoin accepting virtual and physical debit card provider. It is based in belize where laws regarding cybercrime is quite ambigious.

However, if you work with one of the regulated ones such as wirex, bitwala etc. etc. then the risk is significantly lessened. I'm pretty sure anyways that a lot of them use third party, trustworthy ID authenticators and don't do anything themselves.

Though if you're uncomfortable still to share your ID with anyone online, it's completely fine. I understand, it's not paranoia, privacy is a right. You can always get anonymous preloaded debit cards with IBAN for a small fee, or just use any of the services, cryptopay, wirex, bitwala without verifying although your lifetime and daily limits are going to be super low.

AjithBtc

sr. member

Activity: 1666

Merit: 276

Vave.com - Crypto Casino

For all sorts of banking service we have been requested to submit our document proof. Same as that here too a proof of documents has been asked. This doesn't mean that our identification or all our data will get distributed. If they were intentionally asking for identity then sure we can find it easily. But with card services these will be cross checked, because you buy it and someone could steal from you and misuse it.

AT101ET

legendary

Activity: 3178

Merit: 1348

Quote from: predic on June 30, 2017, 04:40:22 AM

this is general, not specific against any website. I included it alos in my signature... to remind people to avoid to give too much information about themselves.

bitcoin debit cards websites are companies registered in London by Lithuanians who demand from you your phone, ID and utility bill, that's enough for them to make offshore companies on your name without your knowledge and they can get a bank account and make financial crimes on your name, or they can simply sell IDs. don't give to anyone too much info.
why they need more than your ID when your local bank demands only ID?

what do you thin, does ordering bitcoin debit cards expose us to the ID fraud and financial criminality?
does the law in Britain really demands utility bill or just "know your customers" or ID and that's all.
anyone visited a bank and opened an account in the last period? did they ask for utility bill?
When I made a bank account in my country, my ID was all I need.

Wow. That's not racist at all Cheesy

Seriously though, what makes you think that these companies aren't legitimate? Why would they steal your details more than any other company? If the company are transparent and official then there's no reason to suspect them more than any other trusted companies. As other members have said, every financial institution (at least in the U.K.) requires you to submit your ID and proof of address in the form of either a utility statement/bill or previous bank statement.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

For years of giving out information to the banks and aervice concierge, I always know that they are selling our information to the government constantly without you or me knowing it. Debit card providers need some of our sensitive info to comply with AML and KYC regulations. That is the most common explanation for that, but I *think* these services still sell our info somehow Huh

BingoDog

hero member

Activity: 658

Merit: 505

When it comes to bitcoin debit cards you should stick to service providers with long history of business and good reputation thus you will also avoid or diminish the chances for personal data to be abused.
And I don't agree with some comments here that bitcoin debit cards are useless. In fact for me this is the easiest and most convenient way to,spend the bitcoin and also to convert it instantly to fiat.

Iranus

hero member

Activity: 1792

Merit: 534

Leading Crypto Sports Betting & Casino Platform

Aren't Bitcoin debit cards basically pointless anyway?

If you want to spend fiat in stores, why not just spend fiat instead of fooling yourself into thinking you're spending bitcoin? It would make it so much easier for people to just spend bitcoin where it's actually accepted instead of relying on even more centralised services in order to let them spend fiat.

Still, I strongly doubt that more trusted services like Xapo or especially Bitpay would be stealing your ID. It's just the same as giving your ID to any other service really.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: predic on June 30, 2017, 04:40:22 AM

this is general, not specific against any website. I included it alos in my signature... to remind people to avoid to give too much information about themselves.

bitcoin debit cards websites are companies registered in London by Lithuanians who demand from you your phone, ID and utility bill, that's enough for them to make offshore companies on your name without your knowledge and they can get a bank account and make financial crimes on your name, or they can simply sell IDs. don't give to anyone too much info.
why they need more than your ID when your local bank demands only ID?

what do you thin, does ordering bitcoin debit cards expose us to the ID fraud and financial criminality?
does the law in Britain really demands utility bill or just "know your customers" or ID and that's all.
anyone visited a bank and opened an account in the last period? did they ask for utility bill?
When I made a bank account in my country, my ID was all I need.

All the things you do mentioned does really have the possibility on using those ID's that we sent from them not only on these things but also to services that do require verification which I do really hate to give. I do really think on this way too on which our important informations would be used on other way which we wont know and no one really knows since we cant see them on how those company do store our private informations. If you don't like to be exposed then better not to use this service,simple as that.

Dontme

sr. member

Activity: 798

Merit: 255

That's how sellers needs to do to secure their own bitcoin upon the scammers. Debit cards can expose it all. Before you are going to buy ID's are always included they need your personal data's and your identity the proofs of residence. They need to know all your details. Most banks needs your information too for their own assurance.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

The EU has just drastically tightened prepaid card limits which Bitcoin ones fall under. You can still have an unverified one but you won't be able to put very much on it.

As far as I know all GBP BTC debit cards are issued by this lot - http://www.wavecrest.gi/ with Xapo/Bitpay/Whatever branding on top.

I can't see any Lithuanians on there.

magneto

hero member

Activity: 1666

Merit: 753

Which service are you using? For mine, i just need to provide ID/passport and proof of residence.

I guess the thing is when you're in a bank, the government is directly linked to them anyways. Most big banks and even small ones have some sort of tie with government regulators, and even if they don't, there are clear regulations that state governments are able to suspend your account and freeze it if anything is suspected. This is not the case with bitcoin debit card providers. They are operating in a grey area and the best that governments can stop any illegal stuff from happening is to get proof of address, proof of id, even origin of funds in some cases.

If you're not comfortable with sharing your info, then don't do it. Use an anonymous card like Advcash. Or use wirex/cryptopay.me, though they have low limits for unverified accounts. If you use a legit, land based corporation's service though there is little chance that your info will be stolen, though it is always possible.

Kevin77

legendary

Activity: 1652

Merit: 1057

The risk of getting our documents being sold is there with every business where we are asked to submit. Not just debit card providers, many exchanges also demanding our documents. Dealing only with reputed service may eliminate 50% risks alone.

tiggytomb

legendary

Activity: 1848

Merit: 1000

In the UK you need your ID and also proof of address, this is usually in the form of a utility bill or a similar document, this has always been the case with all the banks I have come across.

predic

member

Activity: 76

Merit: 10

this is general, not specific against any website. I included it alos in my signature... to remind people to avoid to give too much information about themselves.

bitcoin debit cards websites are companies registered in London by Lithuanians who demand from you your phone, ID and utility bill, that's enough for them to make offshore companies on your name without your knowledge and they can get a bank account and make financial crimes on your name, or they can simply sell IDs. don't give to anyone too much info.
why they need more than your ID when your local bank demands only ID?

what do you thin, does ordering bitcoin debit cards expose us to the ID fraud and financial criminality?
does the law in Britain really demands utility bill or just "know your customers" or ID and that's all.
anyone visited a bank and opened an account in the last period? did they ask for utility bill?
When I made a bank account in my country, my ID was all I need.

Topic: does ordering bitcoin debit cards expose us to the ID fraud? (Read 538 times)