Watch these money launderers use social media to recruit patsies

Originally published at: Watch these money launderers use social media to recruit patsies | Boing Boing


“Sanctity” no. “Integrity” maybe. I hope those pasties taste good…


If I were a criminal (or a right-wing populist – six of one…) looking for credulous suckers, social media is where I’d go to find them too.


What ya have in mind?


Professional photographers I would guess.

But then digital cameras and filter apps meant everyone was a photographer almost overnight. No darkroom, no training, almost no investment.

Anyway. . .

There is a BBC podcast I’ve been listening to about the North Korean hackers who robbed the Bank of Bangladesh. They tried to use a casino in Manilla to launder $80 million, and nearly got away with it. Apparently there were few rules about money laundering in the Philippines at the time.


I’m no historian, but I would venture to say this isn’t the first time that criminals saw the value in exploiting current / prospective socialites…

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This typology is quite clever. Some notes:

  1. It is not a complete ML cycle - as they describe it converts Crypto to cash or gold, which is pretty much the opposite of laundering from a old-school/establishment perspective.
  2. It is a lot of work: £4,000 at a time and for only one small part of the cycle?
  3. It has to use people who are risk takers/desperate, and have little money in the bank (or at least the bank that they are exposing to this). Teenagers or street people are perfect.
  4. It is easy for bank software to spot, then they go after the young account-holder for reparations, not the bad guy. Lots of subtext here, but I don’t want to get sued.

Who’d have ever thought that curating a seemingly perfect and enviable life through pictures would be a viable profession twenty years ago?

James Tiptree was thinking about it 48 years ago in 1973. It’s a shame she’s no longer with us.


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