Re:Fake books sold on Amazon could be used for money laundering
by kuschku on Saturday April 28, 2018 @08:37AM
(#16947364)
In many cultural circles it’s very rude to gift money (or to even left the gifted know how much something cost).
Giftcards are seen as a way around that (although they’re not really better). They also show that you thought about the gifted (what would this person like), but respect that they might not like the specific gift you’d pick.
e.g. if you know someone is a LEGO collector, you gift them a LEGO gift card, instead of buying a specific collectors model that they might already have.
Re:Fake books sold on Amazon could be used for money laundering
by emodendroket on Saturday April 28, 2018 @10:22AM
(#16947756)
Also, as a recipient, the pressure isn't there to do something practical with it.
Re:Fake books sold on Amazon could be used for money laundering
by lotsofpulp on Saturday April 28, 2018 @08:47AM
(#16947406)
I understand a non gift card gift conveying that someone thought about the gift recipient and/or is not explicit in its cost, but a gift card accomplishes the former poorly, and the latter not at all.
Re:Fake books sold on Amazon could be used for money laundering
by icebraining on Saturday April 28, 2018 @08:55AM
(#16947428)
I don't get it either, but people do use them that way. Some are even sillier: a friend of mine, who teaches classes to seniors, got a gift card from them that can be spent on any shop of our huge local mall.
Re:Fake books sold on Amazon could be used for money laundering
by TorKlingberg on Saturday April 28, 2018 @10:26AM
(#16947771)
It's a weird cultural quirk of the west that you shouldn't gift cash. In China people are perfectly happy to give money in red envelopes.
Re:Fake books sold on Amazon could be used for money laundering
by fjsolwmv on Saturday April 28, 2018 @04:11PM
(#16949225)
Wealthy cultures tend to spend extra to hide the visible evidence of the financial reality of their existence. It's silly but common.
Re:Fake books sold on Amazon could be used for money laundering
by lotsofpulp on Saturday April 28, 2018 @12:32PM
(#16948370)
Same in India.
Re:Fake books sold on Amazon could be used for money laundering
by RandallBrown on Saturday April 28, 2018 @10:33AM
(#16947807)
I've always liked getting gift cards over cash because I usually have to spend them on a gift. If I'm getting cash, I end up spending it on groceries or something mundane.
Re:Fake books sold on Amazon could be used for money laundering
by cathhhhji on Saturday April 28, 2018 @12:29PM
(#16948359)
When I get gift cards I end up selling them for cash
Re:Fake books sold on Amazon could be used for money laundering
by MichaelGG on Saturday April 28, 2018 @09:04AM
(#16947457)
I think one might find that if you go buy a million bucks worth of Amazon gift cards and try to load them into a couple of accounts, it'll probably be flagged.
The article is not about money laundering, but using stolen credit cards. It makes little sense to use Amazon for laundering.
But they exist, and they're huge. Obviously merchants love them for the float and captive customer spending more than the gift card balance. Businesses might love them to give out to employees since it's not taxed income, and similarly, money launderers would like them.
I guess I could see some niche use, like wanting to give a child funds for a movie ticket, but to avoid them using it for other purposes you restrict it by giving a movie gift card. But I don't see that supporting a large market.