I have been doing trades on LBC,so I need to figure out I am in trouble if I accept 3rd party bank transfers.
As far as I know people can use you for drug purchases when it is illegal in your country and like other crimes but we are in trouble if people doing this?
I don't think you're liable for what other people do with the bitcoin they bought from you. That would be weird.
Localbitcoins already asks people to verify their ID before they can trade, so you're already doing/participating/complying in AML- Anti-Money-laundering laws.
So, in the case of someone trying to launder money through you, or use hacked bank accounts, you'll be able to report them using their KYC submitted to LBC, (or not be liable for their actions at the very least, since you can point towards the KYC they submitted).
But I can see that people without verified name also available and requesting on LBC,they might have very less annual volume but if their intention is to launder the money they can open hundred of account and convert their money right.
And also how to report if I found anything suspicious about the trader,need to create the support ticket and what to mention on it?
Hmm. I thought everyone who wanted to trade on LBC needed to verify himself.
- Looks like it's not for under 1000$.
https://btcxlab.com/starting-september-1-localbitcoins-introduces-mandatory-verification-for-platform-users/But I can see that people without verified name also available and requesting on LBC,they might have very less annual volume but if their intention is to launder the money they can open hundred of account and convert their money right.
If you're that worried about it, you can simply deny people who haven't verified their ID on LBC, or ask them to do so...?
And also how to report if I found anything suspicious about the trader,need to create the support ticket and what to mention on it?
I'm not sure. If you're only "suspicious" about it, i wouldn't bother too much. There are a lot of things that can be seen as suspicious, while they're usually better explained by, or can be attributed to hanlon's razor.
Not to mention that Localbitcoins probably won't really care about it without obvious proof of wrongdoing.
I would suggest that you don’t do this. If the service you are using is specifically intended (based on their TOS) for transfers between your own accounts, it will appear that any fraud involved in the transaction was something you were a part of.
There are enough databases of usernames/passwords freely floating around (even if not banking related), that I would assume there to be a high risk of any one person sending fiat to me to have their bank account hacked.
If you accept these transactions from many people, I would expect at best for you to be questioned by your bank and or the police about at least one transaction, which will be a big hassle. Realistically, you will have your bank accounts closed and you will have difficulty opening new bank accounts.
I would not trade coin for anything except for cash to someone who I don’t know well on any ongoing basis.
That's... Really pessimistic. There are tons of traders making a living off of legit P2P trades on localbitcoins/Paxful using paypal (to a lesser extent), skrill, webmoney/bank transfers/credit card payments