Bitcoin ATMs are taking money laundering to the next level

[Ed MOTHERFUCKING G]

http://www.reuters.com/article/2014/02/18/us-bitcoin-robocoin-idUSBREA1H05F20140218

I know first hand these are being placed in seattle...it allows your cash (not credit...not bank balances...paper cash) to dissapear. Its literally cutting out 3 steps to money laundering. Its an AML nightmare, and for all those that think the fed or banks will be what ends the bitcoin ponzi scheme market, nah...its gonna be anti money laundering, and this next level...never been easier than before.

 

[ugksam]

why would you want to launder money through this? you would just end up with bitcoins which are useless

 

[Mook]

http://www.reuters.com/article/2014/02/18/us-bitcoin-robocoin-idUSBREA1H05F20140218

I know first hand these are being placed in seattle...it allows your cash (not credit...not bank balances...paper cash) to dissapear. Its literally cutting out 3 steps to money laundering. Its an AML nightmare, and for all those that think the fed or banks will be what ends the bitcoin ponzi scheme market, nah...its gonna be anti money laundering, and this next level...never been easier than before.

it scans your ID though so theres a paper trail.

 

[Ed MOTHERFUCKING G]

why would you want to launder money through this? you would just end up with bitcoins which are useless

You have $10000 dirty money in cash

You deposit it into your bitcoin wallet through an atm

You then do a 'transaction' through a business acct of yours in bitcoin to cash into a checking account (just directly into a personal account if you want)

That money is now clean.

Placement...layering...integration...easier than ever

 

[Ed MOTHERFUCKING G]

it scans your AN ID though so theres a paper trail.

 

[Mook]

You have $10000 dirty money in cash

You deposit it into your bitcoin wallet through an atm

You then do a 'transaction' through a business acct of yours in bitcoin to cash into a checking account (just directly into a personal account if you want)

That money is now clean.

Placement...layering...integration...easier than ever

y dont feds just ask them for that account info on how they got that money. You just dont go out there and say you got bitcoins breh. You either mined them, which will be shown on the wallet that you hit a block and got some coins, this takes forever though if you dont got a crazy farm. Or you mine the smaller coins and trade for bitcoins, which still takes a long time but you can hit a lick easier. Theres pump and dump schemes too. But all the transactions can be shown in an exchange.

 

[ugksam]

You have $10000 dirty money in cash

You deposit it into your bitcoin wallet through an atm

You then do a 'transaction' through a business acct of yours in bitcoin to cash into a checking account (just directly into a personal account if you want)

That money is now clean.

Placement...layering...integration...easier than ever

they cant track where the bitcoins came from tho?

 

[Ed MOTHERFUCKING G]

y dont feds just ask them for that account info on how they got that money. You just dont go out there and say you got bitcoins breh. You either mined them, which will be shown on the wallet that you hit a block and got some coins, this takes forever though if you dont got a crazy farm. Or you mine the smaller coins and trade for bitcoins, which still takes a long time but you can hit a lick easier. Theres pump and dump schemes too. But all the transactions can be shown in an exchange.

Its The same way all money laundering works except with this where theres a step that turns money into fake money and back into real money...instantly.

How do "i deposited $20000 and got bitcoins with that money" look on exchanges.

 

[Mook]

Its The same way all money laundering works except with this where theres a step that turns money into fake money and back into real money...instantly.

How do "i deposited $20000 and got bitcoins with that money" look on exchanges.

I know how, but that shyt takes a while too and right now you need a bank account and credit card on file to get that 20k into bitcoins.

 

[TLR Is Mental Poison]

You have $10000 dirty money in cash

You deposit it into your bitcoin wallet through an atm

You then do a 'transaction' through a business acct of yours in bitcoin to cash into a checking account (just directly into a personal account if you want)

That money is now clean.

Placement...layering...integration...easier than ever

Banks are required to report deposits over a certain amount to the IRS

Even if u break it up to less than the amounts.... banks are gonna be at a nikka makin $3000 deposits 3-4x a day every day

Only way to truly launder the money is to keep it out of the regular banking system... which would make shyt a little difficult

 

[godkiller]

 

[Ed MOTHERFUCKING G]

Banks are required to report deposits over a certain amount to the IRS

Cash deposits. Bitcoin exchange to your bank acct is not cash.

 

[☑︎#VoteDemocrat]

Banks are required to report deposits over a certain amount to the IRS

Even if u break it up to less than the amounts.... banks are gonna be at a nikka makin $3000 deposits 3-4x a day every day

Only way to truly launder the money is to keep it out of the regular banking system... which would make shyt a little difficult

but this is what happens when bitcoin isn't regulated by governments...........

 

[Kings County]

why would you want to launder money through this? you would just end up with bitcoins which are useless

 

[TLR Is Mental Poison]

Cash deposits. Bitcoin exchange to your bank acct is not cash.

If u pop up as suspicious for tax evasion, they hit ur bank up with the subpoena its a wrap for that ass

U can make the money but how will u spend it? U want to buy a house for example, 'ur last tax returns have been 40-50K the last 5 yrs, whered u get 400K to buy a house cash'? Mortgage? They want proof of insurance. Front businesses? U mite as well declare the income. In the long run the IRS always wins