Topic: Money laundering via BTC - page 33. (Read 39389 times)

Deisik, you're referring to the "419 scams" that were famous for originating in Nigeria - I think I also read the same research into it. Scammers are a lot more complex in operating than we give them credit for. The 419 scammers aren't much different from the ones here. Wittingly or not, they actually know the type of people most likely to get conned, and will only move the deal for as long as the targets fit the profile. As soon as it doesn't, they drop the target.

The mistake we make is our underestimation of scammers. We liken them to be immature, below average in intelligence and uneducated. While it is true that a lot of their methods are unsophisticated and their language awkward, this in fact can be deliberate and helps ensure the right targets are attracted. And scammers who recognise our underestimation then give us what we want: maturity, intelligence and educated manners.

They might not be asking for the source of your money right now, because they already got your identification. However should something incriminating turns up tomorrow, they already know where to find you or some good reference points to start with. These things are meant for protecting the society from bad eggs, but often times, they are abused.

there are chasing all kinds of people and cracking down here and there.  someone like you is torn between keeping very precise records of everything and creating a huge paper trail, but covering your ass with where the funds came from, went and thus.  the other option is to increase anonymity in every step, erase all paper trails and hide it all, meaning no evidence and at the same time, no proof that what you are doing is legit, lol.

When notes were banned in November last year, there were many who were selling their banned notes for 30-40% discount via bitcoins and that exactly what money laundering is. It's so easy to convert black into white money as you don't have to prove your source but these trades hamper the reputation of bitcoins. I sell my legal products for bitcoins but then when I withdraw my coins via legal exchanges, I am scared if they will consider my money too fraudulent as there's never a way to prove the source of the bitcoins. It gets transferred from one address to another without any verification and hence it's possibly impossible to prove they were legal funds.

Very simple stuff. Create business, build business, accept btc and buy your own service with your own btc. Pay the small amount of tax and you have clean money. One simple method of hundreds or thousands out there.

Just as expected and we should really think that money laundering is very possible and does exist on darkweb or darknet thats why it being called like that because of the transactions that is happening there.Yes,you are right because bitcoin is anonymous thats why money laundering is really possible.

lol, no i wasn't, but i have done quite a few high pressure sales jobs and many of them and their employees ride the line close to scamming people.  My last two years in the Navy I was involved in a deep psychology study program.  The government was trying everything to deal with terrorist, including catching them before anything was ever done.  Also, bear in mind i I was making huge sweeping remarks and nothing is always true.  I think the scammer leaves in a hurry because they see that they are not getting anywhere with person A and want to go find person B.  Also, the quick departure is really a ruse, adding intensity and haste to the deal.  Anyone that has time to think and talk to others will likely find the flaws with the scam.  The Nigerian princess was a long scam, taking days sometimes, but I guarantee that if our "princess" was starting to lose some schmuck and pulled a quick reverse, "well, i know that I ask a lot, but I just want to be with you so much.  Maybe we should stop talking, if you aren't going to help me come be with you, it is too much to stand......" the scammer would reel in a quick 50%.  You may not want something really bad, just a little bad, but if someone is taking it away from you, you suddenly have to have it.  I think the quick exit is the last resort before the scammer moves on.

Yes it's really possible that there are money laundering in bitcoin because you can you it being anonymous! Actually, according to some articles that I have read, bitcoin is being use illegally in the deep web and we can assume that there are also money laundering there!

No offense intended but you sound as if you were a scammer yourself

And now you are sharing the secrets of the trade with us. Though I disagree that scammers are always keeping the deal moving, no matter what. Once I read some pretty scientific investigation into the matter (namely, into the so-called Nigerian Prince emails aimed at extorting money), and the conclusion was that the scammers drop communication instantly as soon as it becomes evident to them that their target won't bite since continuing would be a waste of time and effort for them

That's right and even if you can escape those you will still eventually getting caught and it just matters about the time.

Government will only see your activities through bank transfer, if there's some suspicious transaction going on then they will take a look on it, but when you're using bitcoin and you bought the bitcoin from some company which is not based on your country you seem to be fine

yes, it is greed and fear that cause the most illogical choices.  and it is these two things that most scammers use to get people.  

1. If it sounds too good to be true, it likely is.  
      If I tell you I can magically make $1 into $2, all I need is your $1, why haven't I simply done this repeatedly to my own money.

2. Scammers appear quickly and disappear just as quick. Technically I trust no one, but I would rather trust a forum member here that has a history of trying to generally help people versus someone that signed up yesterday.  

3. Many people distrust others in a way that shows their own weaknesses. What I mean is something like a spouse that is always accusing the other person of cheating.  These things are in their head because they cannot be trusted.  Many scammers may take undo care to ensure that you are keeping your end of the deal because they cannot be trusted.

4. Profile your business dealings!  Desperate  people beg, crooked people change gears and/or back shift and people that are trying to help probably back shift and then leave an open communication line.
      Someone that is in desperate need of money will offer you a deal and when you decline they will sweeten the pot, and finally beg you to "buy" or "trade".  They need the money and the biggest trust issue with them is the fact that they believe they will come through for you, but may fail, not due to intentional theft.  Crooked scammers keep the deal moving, no matter what. If they lose steam, they lose the mark.  They want you slightly confused, convinced you are not confused and they do not want you seeking advice or catching your breath.  The desperate person has only one deal to offer, but the scammer may produce alternatives and changes to get you to bite.  The scammers last move is to cease talking and drop the ball in your court, stating that their time is very limited.  Someone that is interested in making a deal with honest intent, or trying to honestly help will try for a bit and then leave it to you. The difference in the end from the scammer is that they will leave the future open for you, letting you know that they are there anytime you change your mind, but that they cannot waste more time trying to convince you.

It's possible to escape governments income tax and engage money laundering with bitcoins but I would advice against it as that increases governments around the world's hesitance to accept/approve it in their respective jurisdictions thereby restricting Bitcoin usage to the underground/black markets. We all owe it a duty to push for the world wide legalization of bitcoins and such negative ways of using Bitcoin doesn't auger well for all of us.

It's not money laundering via bitcoin is the way how you get trapped in scammers hand. You should analyze and investigate the company or whatever where you are investing money. I was scammed mny times but now I know the scammers and such companies.

Money laundering is done by more users through bitcoin. At the same it is possible through a group of members and not with a single individual as someone has described. Nigerian MMM which has been a ponzi has once again getting active with the name of bitcoin. Now Nigeria government has made regulations with banks to avoid virtual currency transactions to avoid laundering services.

That is what im actually saying tho what you have said that if you deposit btc on a certain exchanger from your job that would still varies to what certain job you are having and would not make a guarantee so you should have to be very careful

And who documented these cases?

I guess they have been documented exactly by some anti-money laundering agency after they caught someone actually trying out that. Really, how would you know otherwise? If you read about some scheme for money laundering and which is not an outright invention of someone's runaway imagination at that, you can be pretty sure that it had been tried and it didn't work out. Working schemes for laundering money are kept top secret, else they are no longer working since anti-money laundering agencies would be quite familiar with them by that time

If you do more transaction definitely you will caught by government because they will find easily who shifting money into digital currency that is in the form bitcoin, one day they will ask you for tax on it, if you pay taxes on time they will not ask any thing. But without paying tax and transacting more money definitely they will caught you.

It is not always the case

I don't know about the IRS requirements, and what you say may very well be the case in the US where you should report any income even if it is not taxed (e.g. due to tax exemptions), but, for example, in Russia, you don't need to report your income if it is not taxed. There may in fact be a law (likely a provision in the Tax Code of Russia) according to which you are still obliged to declare this kind of income (i.e. even if it is exempted from taxation), but no one does it really since if you don't have to pay a tax, you are basically free from tax claims as well as declaring anything. This is the "unofficial convention" existing in the society

Its not my idea.  

There are documented cases of people using this method to launder money.

I doubt most money launderers even know what bitcoin is.