Got surprised by swap cashier as he demanded KYC/AML on the street

joniboini

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Quote from: Synchronice on August 10, 2023, 03:44:49 AM

How do you guys perform Face to Face exchange? How does the process go?

There is a thread about it here[1], maybe you can further discuss it there if you want to ask further. I've never done it personally since finding local traders in my area is quite difficult. Fortunately, it is easy to do P2P through other means nowadays.

Quote from: Synchronice on August 10, 2023, 03:44:49 AM

By the way, it looks logical to ask for an ID during exchange because what if the coins that you sent me are from dark web? And I am the only one who will experience problems when I decide to deposit coins from this wallet to casino/exchange?

If I were a seller I don't think I'd feel comfortable giving away my ID so my buyer can keep it and then collect my addresses since the risk of abuse is also high.

[1] https://bitcointalksearch.org/topic/tips-for-local-transactions-137272

Synchronice

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Quote from: DaveF on August 02, 2023, 03:53:45 PM

Seriously, I would have just walked away at that point. In all my years of F2F exchanges I have only had 1 person ever ask for ID, and due to the amount I could not blame him totally.

Didn't give it, pointed out we were in a casino with about a million cameras and that was the point. He was just worried that since it was over $10K that it was some sort of entrapment thing. I just didn't want to fly with that much cash, and hey.... it was in Vegas. We made the deal. So it was all good in the end.

If you are passing that much cash in a coffee shop I can see it being a different story.

How do you guys perform Face to Face exchange? How does the process go?
I mean, you have to check whether cash is fake or not, then that person has to be sure that you are really sending coins and aren't going to cancel your transaction and both of you should wait for at least for one confirmation. I mean, if you don't do a deal in a public place in front of cameras or near police, there is a chance that one of you will quickly run away. If you do it in front of cameras, I think it will look suspicious for everyone. I have only exchanged iPhone in real life and I know I can block iCloud and feel safe but once bitcoins are gone, they are gone forever.

By the way, it looks logical to ask for an ID during exchange because what if the coins that you sent me are from dark web? And I am the only one who will experience problems when I decide to deposit coins from this wallet to casino/exchange?

DYING_S0UL

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Don't just give anyone your information. It's not like they were law enforcements or anything like that. Why would they need your KYC anyway? I would be much uncomfortable giving anyone my id. Better to walk way.

I have seen many times people fell victim to it. It may not have harmed you instantly. But your information can be sold in dark web. I have seen many users personal data sold in dark webs. They have all kind of information. Later other scammer would use that info to target you.

One time I gave someone my personal number, (I shouldn't have) later I would get numerous spam calls and texts. They literally sold my number to a third party. Really sucks. Later I had to stop using that Sim.

So be careful buddy.

Findingnemo

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Quote from: user210822 on August 04, 2023, 07:15:15 AM

The clerk in swap office told me he's about to receive explanation of my bitcoin origin. To my surprise he sounded very confident and when I asked him to proof his own bitcoin address whether it's clear or not he responded that the service is pre-paid and he couldn't give info for free...

"Don't play the odds, just play the man", so the person is trying to manipulate you by saying they have your information of yours which itself is a red flag in my opinion. If they have any evidence they will simply show your face at the moment you asked since it didn't happen they don't have any and there is nothing to worry about for your privacy as long as you didn't share any personal details with them.

LoyceV

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Quote from: user210822 on August 04, 2023, 07:15:15 AM

The clerk in swap office told me he's about to receive explanation of my bitcoin origin.

Did he also check the origin of your (or his) fiat money? You should read [Blacklist] of unreliable, 'taint proclaiming' Bitcoin services / exchanges: all Bitcoins are supposed to be equal.

user210822

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To

Quote from: Stalker22 on August 02, 2023, 05:15:47 PM

I am not quite sure I understand the situation. Did the 'swapper' request your personal documents (KYC) or did they want to verify the source of your coins?

Option number two.

Quote

From what I know, there are companies like Chainalysis that provide paid blockchain analysis services to uncover possible links between coins and potential criminal activities.

Got it! Any other hints?

To others:
I probably explained it wrong. The clerk in swap office told me he's about to receive explanation of my bitcoin origin. To my surprise he sounded very confident and when I asked him to proof his own bitcoin address whether it's clear or not he responded that the service is pre-paid and he couldn't give info for free...

LoyceV

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Quote from: logfiles on August 02, 2023, 06:55:36 PM

Quote from: user210822 on August 02, 2023, 03:00:48 PM

It didn't stop me from buying crypto but I would like to ask: what additional sources one may use as a proof of clear assets in crypto?

You just walk away if you feel uncomfortable handing your sensitive data to a stranger.

This is how you fall victim to a targeted attack. Your local cash swapper now knows who you are and possibly how much you hold in crypto. Walk away.

logfiles

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Quote from: user210822 on August 02, 2023, 03:00:48 PM

It didn't stop me from buying crypto but I would like to ask: what additional sources one may use as a proof of clear assets in crypto?

You just walk away if you feel uncomfortable handing your sensitive data to a stranger.

Would he have done the same if you asked him for KYC and source of his fiat cash? It goes both ways, right? Grin

Quote from: user210822 on August 02, 2023, 03:00:48 PM

That 'swapper' has claimed that he has a subscription on a pre-paid source for checking what crypto assets are moving to/from my non-custodial wallet.

That's just bullshit.

Stalker22

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Quote from: user210822 on August 02, 2023, 03:00:48 PM

It didn't stop me from buying crypto but I would like to ask: what additional sources one may use as a proof of clear assets in crypto? That 'swapper' has claimed that he has a subscription on a pre-paid source for checking what crypto assets are moving to/from my non-custodial wallet. I still wonder if it was a brawl or not...

I am not quite sure I understand the situation. Did the 'swapper' request your personal documents (KYC) or did they want to verify the source of your coins?

From what I know, there are companies like Chainalysis that provide paid blockchain analysis services to uncover possible links between coins and potential criminal activities.

DaveF

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That or you just look sketchy :-)

Seriously, I would have just walked away at that point. In all my years of F2F exchanges I have only had 1 person ever ask for ID, and due to the amount I could not blame him totally.

Didn't give it, pointed out we were in a casino with about a million cameras and that was the point. He was just worried that since it was over $10K that it was some sort of entrapment thing. I just didn't want to fly with that much cash, and hey.... it was in Vegas. We made the deal. So it was all good in the end.

If you are passing that much cash in a coffee shop I can see it being a different story.

-Dave

Also, this does not belong in the technical support section but general discussion.

user210822

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It didn't stop me from buying crypto but I would like to ask: what additional sources one may use as a proof of clear assets in crypto? That 'swapper' has claimed that he has a subscription on a pre-paid source for checking what crypto assets are moving to/from my non-custodial wallet. I still wonder if it was a brawl or not...

Topic: Got surprised by swap cashier as he demanded KYC/AML on the street (Read 181 times)