elygil2022
Jr. Member
 Offline
Activity: 140
Merit: 2
REMIIT.IO
|
 |
June 10, 2018, 05:20:23 PM |
|
These people probably want to avoid the taxman and law enforcers. Bitcoin attracts the criminal types because of its anonymity and untraceability feature.
|
▀▀▀▀▀▀▀▀▀▀▀▀▀▀
REMIIT.IO ║ Decentralized Remittance & Payment Platform (https://remiit.io/)
▄▄▄▄▄▄▄ |
|
|
|
|
|
|
|
The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
bce
|
|
June 10, 2018, 05:52:11 PM |
|
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After 7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the Bank got jail time for doing this.  https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated the sale of $250 million worth of drugs. Why are we seeing such double standards, when Bitcoin is involved? all can happen because bitcoin can be accessed by anyone and anywhere without any limit to what and result what bitcoin can be good if its user have a good purpose also |
|
|
|
|
angchosenone
Newbie
Offline
Activity: 112
Merit: 0
|
|
June 10, 2018, 05:57:20 PM |
|
The twofold standard bodes well when you consider that the whole establishments of our fiat economy are reliant on the achievement of banks. Henceforth the expression "too enormous to bomb; too huge to imprison". They can make a case of Ross Ulbricht on the grounds that the US economy won't fall therefore. On the off chance that the US bolted up each investor that accomplished something incorrectly and fined banks sums that were more proportionate to their violations, they'd successfully be shooting themselves in the foot head. It would be lethal if real banks went under, so they'll continue doing all that they can consider to keep that event.
|
|
|
|
|
|
Kray
|
|
June 11, 2018, 06:47:22 PM |
|
Well the double standard doesn’t happen just in this case but also for anything else, especially when it comes into something big and society might tolerate when it happens, in this case if the HSBC gets bigger sanctions it may be able to disrupt the world economy, that's the wrong with the current system.
|
|
|
|
|
Phildo
Legendary
Offline
Activity: 1526
Merit: 1000
|
|
June 11, 2018, 07:10:54 PM |
|
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After 7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the Bank got jail time for doing this. https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated the sale of $250 million worth of drugs. Why are we seeing such double standards, when Bitcoin is involved? Bitcoin isn’t the culprit, Bitcoin is only a tool and got bad reputation from it that is not always people think or it even have become a public secret and actually FIAT and other things got the same but the public doesn’t really care and choose to ignore it. |
|
|
|
|
BelieveInBTC
Member
Offline
Activity: 280
Merit: 15
BookiePro.Fun - The World's Betting Exchange
|
|
June 11, 2018, 07:17:35 PM |
|
People don't need to use Bitcoin for money laundering. There are many different cryptocurrencies which are better for this purpose because they are completely anonymous for example Monero, Dash, Zcash and so on. I wouldn't use Bitcoin because it is very easy to track transactions. Monero allows you for fully anonymous transactions. Nobody beside you knows who and when send you any money.
|
|
|
|
sublime5447
Legendary
Offline
Activity: 966
Merit: 1000
|
|
June 11, 2018, 07:23:38 PM |
|
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After 7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the Bank got jail time for doing this. https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated the sale of $250 million worth of drugs. Why are we seeing such double standards, when Bitcoin is involved? Bitcoin isn’t the culprit, Bitcoin is only a tool and got bad reputation from it that is not always people think or it even have become a public secret and actually FIAT and other things got the same but the public doesn’t really care and choose to ignore it. |
|
|
|
|
DunnDy
Member
Offline
Activity: 132
Merit: 12
|
|
June 11, 2018, 07:42:58 PM |
|
It can't be denied that people use Bitcoin for this purpose because they want to. There are many reasons that make up the decision to use Bitcoin for money laundering. Many people, through Bitcoin opportunities, feel irresponsible for their unethical acts that have a detrimental effect on the structure of Bitcoin. Perhaps this is due to the fact that Bitcoin is considered by many as a currency associated with full anonymity and lack of responsibility for the phenomena caused by its users.
|
|
|
|
|
Dudeperfect
|
|
June 13, 2018, 05:04:03 PM |
|
Well, everyone would use the payment method which is convenient for him and if money launderers are using Bitcoin to evade tax, they are simply replacing the fiat currency and nothing else so it is baseless to accuse Bitcoin of such mess. Bitcoin provides some more benefits as compared to that of the traditional payment system.
|
|
|
|
|
|
Wintersoldier
|
|
June 13, 2018, 05:16:05 PM |
|
People choose to do illegal thing in cryptocurreny due to the fact that Bitcoin does not have a complete regulation or a full system regulations for the government where in fact drop It as an non legal form of currency.
|
|
|
|
|
p4npos
Newbie
Offline
Activity: 224
Merit: 0
|
|
June 26, 2018, 06:26:41 PM |
|
People use Bitcoin for money laundering because there is no money trail. The system doesn't ask the investor where he earned the investors. Many people call cryptocurrency a fruad because of these money launderers. We should take action against such people.
|
|
|
|
|
5hoursaday
Newbie
Offline
Activity: 127
Merit: 0
|
|
June 30, 2018, 09:10:13 AM |
|
People do not need to use bitcoin for money laundering. Before bitcoin came into existence, criminals were already laundering large amounts of money without getting caught so they really do not need bitcoin for them to successfully launder money if they wanted to. With the know your customer policy going on in crypto right now, laundering is much harder.
|
|
|
|
|
Ezenwanyi
Copper Member
Jr. Member
Offline
Activity: 336
Merit: 1
|
|
June 30, 2018, 09:25:34 AM |
|
Those who are into money laundering, prefer using bitcoin because it covers their tracks, as the cryptocurrency is not linked to their offline address.
Can we then say that bitcoin I an enabler?
|
▀▀ PUBLISHprotocol [ WHITELIST ] ▀▀
The most viable blockchain based media platform |
|
|
|
Sir Cross
|
|
June 30, 2018, 09:26:39 AM |
|
Well, everyone would use the payment method which is convenient for him and if money launderers are using Bitcoin to evade tax, they are simply replacing the fiat currency and nothing else so it is baseless to accuse Bitcoin of such mess. Bitcoin provides some more benefits as compared to that of the traditional payment system.
The use of bitcoin for money laundering is not only just to evade tax. Some criminals use bitcoin for ilegal transactions since fiat is tracked by most authorities. It’s possible that drug lords or syndicates have been using bitcoin instead of fiat but I don’t say that the same is true. Unlike using cash, bitcoin is not being looked into by the police although transactions may still be traced. It’s just not being watched carefully as compared to transactions of cash in high volumes. |
|
|
|
|
asus09
|
|
June 30, 2018, 09:33:20 AM |
|
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After 7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the Bank got jail time for doing this. https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated the sale of $250 million worth of drugs. Why are we seeing such double standards, when Bitcoin is involved? I think it is a phenomenon of a crime committed by individuals and not communities. something has its negative and positive effects so I think it's very irrelevant if bitcoin becomes the character of the case as you discussed. |
| | .
Gamdom | │ | 15% | .
CASHBACK
FOR THE FIRST
7 DAYS | | | ██████████
██
██
██
██
██
██
██
██
██
██
██
██████████ | █████████████████████████████████ .
█████████████████████████████████ | ██████████
██
██
██
██
██
██
██
██
██
██
██
██████████ | ▄██████████████████████████████▄
████████████████████████████████
█████▀▀████████▀▀████████▀▀█████ ▄▄▄▄
███ ▀▄▄▀ ████ ▀▄▄▀ ████ ▀▄▄▀ ███ ██████
████▀ ▀██████▀ ▀██████▀ ▀████ ▀████▀
████▄ ▄██████▄ ▄██████▄ ▄████ ██
████████████████████████████████ ██
████████████████████████████████ ██
██████████████████████████████████████▀
▀██████████████████████████████▀
██████████████████████
██████████████████████
████████████████████████████████ | .
HIGH QUALITY CASINO
WITH MULTIPLE GAMES | | | ████████
██
██
██
██
██
██
██
██
██
██
██
████████ | | ████████
██
██
██
██
██
██
██
██
██
██
██
████████ |
|
|
|
Solomonkingdom
Newbie
Offline
Activity: 77
Merit: 0
|
|
June 30, 2018, 09:53:48 AM |
|
It has a high anonymous nature. No one will know who is behind all the transactions. The BTC performs nationwide operations without any control from the bank and the government.
|
|
|
|
|
Timere
Newbie
Offline
Activity: 133
Merit: 0
|
|
June 30, 2018, 10:01:07 AM |
|
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After 7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the Bank got jail time for doing this. https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated the sale of $250 million worth of drugs. Why are we seeing such double standards, when Bitcoin is involved? This world is very unfair. And corruption is present wherever there is so much money, whether it's the US, or the Congo or Nigeria. The rules are not for big money! |
|
|
|
|
mr.nby
Member
Offline
Activity: 307
Merit: 10
|
|
June 30, 2018, 10:11:48 AM |
|
People do not need to use bitcoin for money laundering. Before bitcoin came into existence, criminals were already laundering large amounts of money without getting caught so they really do not need bitcoin for them to successfully launder money if they wanted to. With the know your customer policy going on in crypto right now, laundering is much harder.
Criminals use bitcoin to launder money because of anonymity. The time when they are able to laundering a lot of dirty money is also much shorter. How long it will take to laundering $ 1 billion. Certainly much more doing it outside the cryptocurrency market. This, combined with anonymity, creates an attractive place for criminals. |
|
|
|
|
Ozero
Full Member
Offline
Activity: 2044
Merit: 180
Chainjoes.com
|
|
June 30, 2018, 10:14:43 AM |
|
Bitcoin is only relatively anonymous and therefore it is very rarely used for money laundering. According to the studies, bitcoin for illegal purposes is used in no more than ten percent of cases. Now there are a lot of coins with a high level of anonymity - coins Monero, ZCash, Dash and others. It is them who are more often used by criminals. In this regard, in Japan, the above coins were banned for circulation.
|
|
|
|
|
deppil
|
|
June 30, 2018, 10:24:57 AM |
|
Its quite simple, The freedom Bitcoin has from the governing institutions is the main reason as to why its used for mony laundering, BTC operates freely without being monitored and is protected buy the Block chain, the transactions are untraceable making it possible for money loundels to do their business with ease
You are right freedom is a human desire that many people want including in the field of financial transactions. of course everyone wants privacy and bitcoin offers it with their anonymous. but for money laundering they usually do it from corruption. they know that bitcoin is anonymous |
|
|
|
|
|
