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Travis West
Member since: 2023-05-08
Travis West
Travis West 2d

Answer: God does indeed love the infantry. It is why He made the sky blue!

Travis West
Travis West 3d

Is it true that God loves the infantry?

Travis West
Travis West 8d

"Security Tips Every Bitcoiner Should Know." There'll be some stories and a Q&A too. ✊

Travis West
Travis West 11d

Yeah, there has to be an initial act that deems the funds "illicit" in the first place (funds are stolen, funds are proceeds from crime, etc.). Then the act of laundering it is moving it, exchanging it, layering it, etc. in order to usually get the funds into a position where one can use them without worry. Also, the trail of funds ("follow the money") is usually a good way to identify the suspect behind whatever that initial act was, so laundering can be a way of hiding or obfuscating evidence too. In fraud schemes, there are sometimes people involved in the theft that simply just move (or launder) the stolen money. Classic example is the fraud mule. So if someone hacked your bank account and sent all your funds to some fraud mule's account, then the mule sent it onward to another mule and kept a small amount, and the next mule did the same, then eventually the remaining stolen funds end up with the original suspect again, you could build a criminal case and say the suspect hacked, stole, etc. and each of the mules laundered stolen funds, maybe more. That is the idea behind it. If money laundering statutes didn't exist though, you could likely still hold people accountable for doing these things though. Could try arguining the mules are complicit with the original theft. The State and the traditional financial industry have built a financial surveillance system though in the name of preventing money laundering. And a lot of the AML/BSA crowd seems to forget that the funds have to be illicit in the first place. The industry is hyper focused on reporting and KYC. It is ugly. Not worth the trade offs in my opinion. But we know the controls are not really in place for crime detection and prevention, but control.

Travis West
Travis West 11d

Money laundering just requires value movement. You can launder money through anything that can be exchanged for value.

Welcome to Travis West spacestr profile!

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Bitcoiner, combat veteran, alleged operator of nodes, cadre member of the Bitcoin Veterans.

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