How to- Digital Money Laundering

=-=-=-=-=-=-=-=-=-=-=-=-=-= EDUCATIONAL ONLY =-=-=-=-=-=-=-=-=-=-=-=

People that rob banks go to JAIL – Banks that Rob People get a Bonus

gAtO rEaD – On October 30, 2012 yesterday the Times reported Iraq-reports on Money-Laundering on how 800 million American dollars is being sent out of the country each week. It’s not only drug lords, terrorist and government-agencies with 3 letters that play this game. Hiding money is as normal to a private equity firm as it is to a commercial cyber criminal. So let’s define this…/

I will only use BitCoin in this example because it’s the one digital currency that I understand the best today, but there are other digital currencies that work just the same way..

“Money laundering is called what it is because that perfectly describes what takes place – illegal, or dirty, money is put through a cycle of transactions, or washed, so that it comes out the other end as legal, or clean, money.”  — 

There are 3 stages of money laundering – Placement, Layering and Integration. 

Placement: So the first step of hiding the cash is to get it out of your hot little hands.  Most popular way of doing this?  Putting it into digital currency (like BitCoins) or any non-fiat currency.

Layering: In a traditional money laundering, the next thing to do is farm out all of that cash into so many complicated transactions that the poor tracker assigned to your case loses his mind and decides to give up.

With Bitcoins it becomes a different puppy because they allow all transactions to be viewed – all transactions are public but all the wallets are private – There are services that claim to strip away at the least 3 wallets but I have not verified this, but if you want to give your Bitcoins to someone else and they will give you washed coins back in the digital black market -there’s a sucker born every second -were nobody knows your name – well it’s not a good thing and a possible point of LE (law Enforcement to get you)…

Integration: Coversion of Bitcoins to fiat greenBacks – cash is going to be the tricky part but in todays world you can get a different ID in a few days and once you have a legit Money drop not traceable to you – your Bitcoins can come from one of many Digital exchanges. See chart below it’s old 2010 but you can see how conversion of digital currency is really easy.

Excahnge Money Place – http://www.exchangemoneyplace.com and here is a http://goldexpay.com were you can also but Skype, uKash, World of Warcraft, Betamax, Amazon, Paysafe and others, LibertyReserve to Payza, Instant Exchange Liberty, Perfect Money, Pecunix, V-Money, WebMoney, Payza, PaYPaL,Lr,UkAsH,Mb,NeTeLLeR,Pm,LiqPay,CaShU,ALeRTP aY,PaYPaL VcC ExChAnGe SeRViCe

I wish it was harder but it’s not – Moneygrams, S.w.i.f.t Money transfer or xBox Dollars- all can be had once you have your digital cash. Money laundering is easy in todays digital world but it’s has to go slow and easy. As our current Presidential candidate Mitt Romney has shown us all if you plan right you can bury your cash in all kinds of deals – gATO OuT

Digital Currency ExchangeExchangers

Comparison of Digital Currency Exchangers (DCEs) as of 18 April 2010:

Digital Currency Exchanger Yearfounded GDCAmember Telephone Telefax email Digitalcurrencies (DC) accepted Fiat currencies accepted Fee buying DC Fee selling DC Fee exchanging DC to DC
WMXchange.net 2009 13px-Green_check.svg.png 13px-Green_check.svg.png 13px-Green_check.svg.png 10 any 5-8% 5–8% 0-5%
LinkflyExchange.com 2010 13px-Green_check.svg.png 13px-Green_check.svg.png 13px-Green_check.svg.png 6 any 1–3% 1–3% 1–5%
wmBroker.eu 2008 13px-Green_check.svg.png 13px-Green_check.svg.png 13px-Green_check.svg.png 11 any 0–3% 0–3% 3–5%
e-forexgold.com 2000 13px-Green_check.svg.png 13px-Green_check.svg.png 13px-Green_check.svg.png 7 any 2–5% 2–7.5% 3–7.5%
PlanetWM.com 2009 13px-Green_check.svg.png 13px-Green_check.svg.png 7 3 1–5% 1–5% 1–8%
Money Central Market 2007 13px-Green_check.svg.png 13px-Red_x.svg.png 2 3 2.99%-4.99% 4.99%-6.99% 0–5%
CurrEx 2007 13px-Red_x.svg.png 13px-Green_check.svg.png 3 0 N/A N/A 0–5%
SaveChange.ru 2007 13px-Green_check.svg.png 13px-Green_check.svg.png 5 0 3%–5% 5% 0–5%
Euro Gold Sales 2004 13px-Green_check.svg.png 13px-Green_check.svg.png 2 3 2.5%–4%% 1.9% N/A
ExchEngine 2004 13px-Green_check.svg.png 13px-Green_check.svg.png 5  ?  ?  ?  ?
GoldExchange.eu 2005 13px-Green_check.svg.png 13px-Green_check.svg.png 3 2 1.9–2.9% 1.9% N/A
ecardone.com 2009 13px-Green_check.svg.png 13px-Green_check.svg.png 3 2 1.9–2.9% 4.0% -5%+5%
GoldNow 1999 13px-Green_check.svg.png 13px-Green_check.svg.png 4 9 5% 5% 5%
goldtotem 2005 13px-Red_x.svg.png 13px-Green_check.svg.png 4 3 3–5% 0.75–1.5% 1.5–3%
IntlExchange.com 2005 13px-Green_check.svg.png 13px-Green_check.svg.png 9 10 2% 1% 1.5%
citichanger.com 2010 13px-Green_check.svg.png 13px-Green_check.svg.png 5 5 US$2.00 US$2.00 US$2.00
NetPay 2001 13px-Red_x.svg.png 13px-Red_x.svg.png  ?  ?  ?  ?  ?
ROBOXchange 2002 13px-Green_check.svg.png 13px-Green_check.svg.png 14 0 N/A N/A 1–5%
SpeedyExchange 2003 13px-Green_check.svg.png 13px-Red_x.svg.png (answerphone) 7 3 8–13% 1.5–9% 0.3–4.4%
Webmoney.co.nz 2004 13px-Green_check.svg.png 13px-Red_x.svg.png 3 1 5–7% 3% 0–5%
Wm-center.com 2005 13px-Green_check.svg.png 13px-Green_check.svg.png 11 3 1.5–6% 1–8% 0–10%

=-=-=-=-=-=-=-=-=-=-=-=-=-= EDUCATIONAL ONLY =-=-=-=-=-=-=-=-=-=-=-=

—Reference:

http://www.cs.utah.edu/~kmay/look/digital/Laundry.htm

http://www.forbes.com/sites/lawrencehunter/2012/10/29/are-federal-reserve-regulated-banks-laundering-dirty-money/

 

 

 

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One response

  1. Pingback: AnimalFarm.org » People that rob banks go to JAIL- Banks that Rob People get a Bonus http://t.co/Q3p2FFz9 #gAtO ? #infosec #tor #AnonOps #hacking #bitcoin

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