Re:Terrorists Turn to Bitcoin for Funding, and They’re Learn...
by wruza on Monday August 19, 2019 @04:52AM
(#20736067)
Hmm, I have a couple of questions on this.
>then you never needed BTC in the first place -- you just launder money through it.
I’m afraid I don’t understand this part. Their goal is not to launder money, but to receive funds from “around the world” (and blow up someone). Of course easy laundering may be profitable^ to criminals, but how are these two connected here?
>Easy to shut down the mixer.
Easy in which country? How a mixer in any “closed” country could be shut down? Say DPRK or strong middle east countries who oppose “west world” to be opaque enough, but not technically aware of these activities (or simply don’t care, as you mentioned). Couldn’t that basically turn “person X consciously funds hamas” into “someone in country Y funds hamas as a hidden detail of business operation”?
^ Our company tried to create a btc-based business in EU. Banks required us to provide sof for every transaction, including banning any amount from fraud/criminal lists, and mixers were all in these lists. I doubt that you can easily launder via well-known, big enough mixers. At least to my understanding, EU is very aware of grey money that comes from btc market.
>then you never needed BTC in the first place -- you just launder money through it.
I’m afraid I don’t understand this part. Their goal is not to launder money, but to receive funds from “around the world” (and blow up someone). Of course easy laundering may be profitable^ to criminals, but how are these two connected here?
>Easy to shut down the mixer.
Easy in which country? How a mixer in any “closed” country could be shut down? Say DPRK or strong middle east countries who oppose “west world” to be opaque enough, but not technically aware of these activities (or simply don’t care, as you mentioned). Couldn’t that basically turn “person X consciously funds hamas” into “someone in country Y funds hamas as a hidden detail of business operation”?
^ Our company tried to create a btc-based business in EU. Banks required us to provide sof for every transaction, including banning any amount from fraud/criminal lists, and mixers were all in these lists. I doubt that you can easily launder via well-known, big enough mixers. At least to my understanding, EU is very aware of grey money that comes from btc market.