| From: | David Hinkley dhinkley@***.org |
|---|---|
| Subject: | Cash, Credit and Crime |
| Date: | Wed, 30 Jun 1999 16:34:37 -0700 |
To: <shadowrn@*********.org>
Subject: Re: Cash, Credit and Crime
Date sent: Wed, 30 Jun 1999 16:14:48 +0200
Send reply to: shadowrn@*********.org
> DV8 wrote:
> > The point I was trying to make is that Organised Crime moves hundreds
> > of thousands of units of BTL and flesh every <insert time period> It
> > would be tough to explain to the bank manager when you show up with
> > wheelbarrows full of certsticks. :) I presume that those credswipers
> > you mention would'nt be able to tranfer funds without the codes needed
> > to ID the original account they came from. Banking systems today work
> > in much the same way and I can only see the level of paranoid tracking
> > increasing in the 2050's and 60's
>
> The bank managers can be bought, and there's always the option of
> moneylaundring. It would be more difficult than it is now, but criminal
> organizations get more inventive at every turn.
As I see it the advent of the credstick and matrix may have made
moneylaundering easier rather then harder. This is based on the assumption
that Certified credsticks are a bearer instrument that is tied to a bank
account some where. That is the credstick lets the bearer to spend any or all
money in the account when ever they want and while the there would be a
record of the transaction it would be only tied to the account and not who
made the transaction unless the authorities caught you with the credstick in
your possession.
To launder funds you need at least 3 certified credsticks. At least two are
from an offshore account. One you use to collect money from third parties.
You use a credstick transfer device. The device can be either on or of line
and the third parties credstick can be of either type. When you are done
collecting money you buy a candy bar or equivilent from a repuable business
as this transaction would cause all "off line" transactions to be posted. You
then transfer all but 10-100 neuyen to the second stick (the off shore
account) using a portable online transfer device. Then you return the first
stick into circulation. That way you can't be caught with it and further
transactions are placed on making tracing transactions involving it harder.
You then wire transfer the funds on the second stick to a credstick held by
an accomplice located in the same city as the off shore bank. He then
cashes out the certified credstick taking cash, which he then takes down the
street and deposits it in to yet another account. This account could either be
for a individual or corporation or another certified credstick account. You
then return the second stick into circulation and it would be almost impossible
to link the original transaction to the final destination of the funds.
With an increase in risk you could skip the off-shore transfer and cash
movement.
As to Cash, a cashless economy sounds good and may be a cops and tax
collectors dream but it will not work.The problem is small transfers, the single
candy bar, the daily newspaper or a cup of coffee to name a few. I costs
the same to do the "paperwork" on these transactions as it does a large one
like the purchase of a car. The question is who pays? If you charge either
the custumor or the seller the final or real cost of the candy bar is out of line
with its value and the sale would not happen. Charge high enough fees on the
big transactions to cover the costs on the little transactions and the big boys
will scream and they are large enough to be heard. By the way do not forget
that the criminal element moves enough money through the system in
legitimate and semi-legitmate transaction to have a big say in this matter.The
best solution is to retain cash for "small" purchases. which means money to
make the grey and black markets work. And given the number of SINless
individuals we know that a major grey and black market exists.
David Hinkley
dhinkley@***.org
