American Express Caught in Money Laundering Probe

A little story that has slipped under the radar involves American Express.  According to the July issue of Forbes, American Express has disclosed that they have set aside $60 million to fight off money laundering and was cooperating with the Justice Department.  The...

Despite US Law Changes Gaming Sites Still Growing

Last year the US Congress passed a number of laws that cracked down on online gaming sites.  This has not slowed down the industry and probably shows the impotence of US law to impact an internet industry all by itself.  US authorities were obviously influenced in...

The Dark Side of Electronic Wallets Part 3

As we continue this series, there is a new consideration that digitized illegal transactions create. Each of outside of law enforcement must now concern ourselves with the perils of identity theft in an all together new fashion. Stealth Identity Theft In a world where...

The Dark Side of Electronic Wallets Part 2

With the advent of electronic methods for transferring cash, small denominations can be moved quickly outside the view of watchful law enforcement officials (ergo Drug dealer can text in a payment from the privacy of a bathroom stall). Transactions can be traced but...

The Dark Side of Electronic Wallets Part 1

Ebay/PayPal have anounced their projects to offer the ability to transfer money via instant messaging and PayPal’s confirmation process. The concept of beaming money around is not a new idea, but it has been a long time coming in the form of a trustworth...

Analysis of "The Great Debate – Law in the Virtual World"

The Great Debate ? Law in the Virtual World In reviewing an excellent article by the authors, I was compelled to understand their debate more thoroughly by mapping / outlining some of the high points as I understood them. Any misunderstandings of content, concept or...

Denomination limits decrease potential for Money Laundering

You won’t see too many $10,000 bills floating around. Not because your poor and not because the local gas station doesn’t have the capability to break a $100,000 bill. The main reason is that the Government has instituted a number of banking reporting...

Cyberlaundering: Low Tech meets High Tech

Cyberlaundering: Low Tech meets High Tech By Copyright 2001. Brett H. Bumeter I, Brett H. Bumeter, hereby grant the right to copy this article in its entirety or any portion thereof by any means possible   gm diet plan vegetarianand to distribute such copies freely...