How HYIPers launder money

A newish payment processor/currency exchanger is currently being touted around the usual suspect HYIP ponzi forums.

"OKPay" https://www.okpay.com/en/index.html is offering money transfers, debit cards and e-currency conversion services.

http://i218.photobucket.com/albums/c...man/okpay5.jpg

Sounds reasonable............UNTIL:

http://i218.photobucket.com/albums/c...dman/okpay.jpg
http://i218.photobucket.com/albums/c...man/okpay2.jpg
http://i218.photobucket.com/albums/c...man/okpay3.jpg
http://i218.photobucket.com/albums/c...man/okpay4.jpg

You really, really have to get into bed with some REALLY strange bedfellows if you want to become involved in the world of get-rich-quick schemes and HYIP ponzis.

Good luck with that

I initially removed this post earlier due to fear it might teach people with criminal intent how to launder money. I have been asked to re post it.



Its not easy to move large amounts of money through banks these days. The sophisticated hyip operators set up foundations in Caribbean or South American countries and then set up IBC (international business corps) under the foundations. These IBC entities set up bank accounts to then move the funds. To actually find out the owners of the IBC is very difficult since the foundations own them with anonymous persons listed as trustees of the foundation. Even with payment processors involved they still have to move money from payment processors to banks, which is not easy.

Banks in Panama, Costa Rica and New Zealand are the favorites. If anyone remembers much about Stanford Bank in Antigua, that was the favorite bank of sophisticated HYIP,s until it was taken down by US authorities a few years ago for operating a massive ponzi. A few HYIP's that owned IBC's used to buy CD's at Stanford Bank to get double digit monthly returns to help get back some of the returns needed to prolong their programs.

Excellent choice for a thread LRM.

A lot of wannabe playas don't get it. The HYIPs are not innocent money games for those who like a flutter. They are invariably involved with good old fashioned crimes like fraud, wire fraud and money laundering.
And who better to use than an offshore payment processor. I'm suprised that Former Player didn't mention Canada in his list of countries which are used by the "enablers"

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Originally Posted by Lil Ol' Radical Me

Excellent choice for a thread LRM.

A lot of wannabe playas don't get it.

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You're entirely correct, they either don't "get it" or, simply don't want to "get it"

It's much easier to pretend there's 50 little guys out there making a small amount, than it is to admit there's a single criminal or worse, criminal gang with 50 HYIPS running under different aliases.

I'm in no doubt that at some time in the not too distant future, someone in a position of power is going to declare "enough is enough" and the resulting revelations of the HYIP industry are going to shock everyone.

Having said that, I'm not foolish enough to think the HYIP industry is going to disappear.

However, IM(very)HO, it's way past the time a line was drawn in the sand and least some of those very public HYIP ponzi promoters who continue to operate with apparent impunity are brought to justice, and the whole HYIP ponzi "industry" was put on notice things are going to be different.

Quote:

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Originally Posted by littleroundman

You're entirely correct, they either don't "get it" or, simply don't want to "get it"

It's much easier to pretend there's 50 little guys out there making a small amount, than it is to admit there's a single criminal or worse, criminal gang with 50 HYIPS running under different aliases.

I'm in no doubt that at some time in the not too distant future, someone in a position of power is going to declare "enough is enough" and the resulting revelations of the HYIP industry are going to shock everyone.

Having said that, I'm not foolish enough to think the HYIP industry is going to disappear.

However, IM(very)HO, it's way past the time a line was drawn in the sand and least some of those very public HYIP ponzi promoters who continue to operate with apparent impunity are brought to justice, and the whole HYIP ponzi "industry" was put on notice things are going to be different.

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What the next logical step should be IM (not nearly)H enough O, it to start looking into and controlling the enablers - the payment processors, generally offshore from the US and countries with strict regulations on money movers. Canada is home to several well known ponzi friendly processors - Alert Pay, being the best known. A surcharge on comissions for "certain classes of business" is no more than a nod and a wink to permitting clients who deal in businesses which fall a long way outside their own terms and conditions. They are probably the strictest, and allow too much. The rest fall a long way behind, and some are even complicit with the HYIP owners.

Without the processors and banks that "bend the law" the HYIPs couldnt function easily.

Quote:

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Originally Posted by Lil Ol' Radical Me

Canada is home to several well known ponzi friendly processors

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Hmmnn, we can forget that avenue, straight away.

Canada acting against crime and criminals ???

That would require an act of Parliament, 3 focus groups, 6 committees, a stakeholder consultation process and 3 changes of Government.

http://www.gsmzone.co.uk/assets/images/flypig.gif

I invested in Necker Anlagen AB and absolutely do not regret. Cooperation with the Necker Anlagen - this is my first investment experience. I've heard a lot of positive feedback about this company, so I do not feel any doubt while choosing an investment fund. Necker Anlagen is exactly what I expected - for the first month I received an amount approximately equal to that calculated using the calculator on the site. In annual terms, it's more than promise any modern bank.

http://i218.photobucket.com/albums/c...man/necker.jpg

R--I--G--H--T.

At 10% per DAY, I don't think there'll be a second gloating post anytime soon.

Quote:

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Originally Posted by littleroundman

Hmmnn, we can forget that avenue, straight away.
Canada acting against crime and criminals ???

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Horribly slow, for sure. Let's see... Business in Motion Ponzi was exposed by CBC back in 2009, but charges were not filed by RCMP until 2011, by then the company had already dissolved.