Originally published at: Watch these money launderers use social media to recruit patsies | Boing Boing
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“Sanctity” no. “Integrity” maybe. I hope those pasties taste good…
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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.
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What ya have in mind?
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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.
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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:
- 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.
- It is a lot of work: £4,000 at a time and for only one small part of the cycle?
- 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.
- 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.
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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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