Money-Laundering Practices in the Online Scam Industry
The article details money-laundering practices in Cambodia's online scam industry, highlighting 'gateways' facilitating transactions, the use of cryptocurrency, and brokers acting as intermediaries in a complex cyber-scam ecosystem.
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The article explores the money-laundering practices within the online scam industry, particularly focusing on operations in Cambodia. It describes how individuals and companies, referred to as 'gateways', facilitate transactions between cyber-scam operators and money-laundering entities, known as 'motorcades'. This process, termed 'moving bricks', involves transferring money through various accounts, often using cryptocurrency like Tether (USDT) to obscure the origins of the funds. The term 'banzhuan', originally denoting physical labor, has evolved to describe these financial transactions, highlighting the repetitive and often low-paid nature of the work involved. The article emphasizes the complexity of the cyber-scam ecosystem, which includes not only scammers but also those who provide ancillary services such as personal information trading and software development. The use of encrypted platforms like Telegram facilitates these illicit activities, allowing for a vast network of information and transaction exchanges. The brokers in this system position themselves as neutral intermediaries, yet they play a crucial role in enabling scams and laundering operations. The article concludes by discussing the operational strategies of these brokers and motorcades, including their methods for avoiding detection by financial institutions.
- The online scam industry in Cambodia relies on 'gateways' to facilitate money-laundering transactions.
- 'Moving bricks' refers to the process of transferring money through various accounts, often using cryptocurrency.
- The cyber-scam ecosystem includes scammers, money-launderers, and ancillary service providers.
- Encrypted platforms like Telegram are essential for the coordination of these illicit activities.
- Brokers in this system act as intermediaries, crucial for the success of scams and laundering operations.
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12 commentsAnd I love how the article gives the Chinese words for all the terms involved. It feeds my fascination for everything that is Language.
> The Chinese word tongdao, which we chose to translate as ‘gateway’, parallels the English word ‘channel’—a linguistic coincidence that shows the intermediary nature of these businesses, which act as a channel for the circulation of both information and money.
Exposition like this is so rare. I cannot upvote this article enough.
[0] - https://www.wired.com/story/pig-butchering-scam-crypto-huion...
Of course, now that most people have bought into money laundering, the goal posts are now getting moved that any attempt at privacy can be considered illegal.
You use or provide a messaging service that has unbreakable privacy - we'll make this a crime too!
Why should it be illegal to use a crypto tumbler/mixer service?
Oh because some people use it for crimes.
Then arrest the CEOs of gun companies, because guns can be used to commit crimes!
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