Money-Laundering Practices in the Online Scam Industry

Re:Money-Laundering Practices in the Online Scam Industry by AnthonyMouse on Friday September 27, 2024 @01:22PM (#41673222)

This doesn't explain why surveillance is required on the buyer's side. Why can't you go to a retail store, buy an anonymous prepaid debit card for cash and then use it to make purchases over the internet without giving anyone your social security number? The cash you're using has already been taxed.

[ Parent | on HN ]

Re:Money-Laundering Practices in the Online Scam Industry by JumpCrisscross on Friday September 27, 2024 @01:45PM (#41673513)

> Why can't you go to a retail store, buy an anonymous prepaid debit card for cash and then use it to make purchases over the internet

Because when this is made available in practice like 99% of the volume is tied to crime. 99% of users aren't criminals. But criminals use it at scale in a way that dwarfs licit activity. (Without tracking how much each person is using it, you can't cut off the scale users.)

[ Parent | on HN ]

Re:Money-Laundering Practices in the Online Scam Industry by AnthonyMouse on Friday September 27, 2024 @10:09PM (#41677330)

This is just assuming the conclusion. Anonymous purchases should be the default, so that ordinary people aren't baselessly subject to mass surveillance. At which point you'd have to be arguing that 99% of all purchases are criminal, which seems implausible.

[ Parent | on HN ]

Re:Money-Laundering Practices in the Online Scam Industry by adwhdj on Friday September 27, 2024 @01:31PM (#41673365)

To protect the kids of course! How ever could the government prevent all of these awful crimes against children unless we surveil everything. Like I always say, if you have nothing to hide. . .

Is what I imagine some spook told the lawmakers. Sarcasm aside, I believe it is control.

[ Parent | on HN ]