May 30, 2013

A Virtual Money Laundering Scheme For The Criminal Underworld

Arnold & Porter Webcast

NPR's On Point with Tom Ashbrook

There are so many ways to move money anonymously on the Internet. WebMoney, out of Moscow, will do it. Perfect Money, out of Panama. CashU, in the Middle East.

This week, U.S. prosecutors have gone after Liberty Reserve, out of Costa Rica. Charged its operators with massive online money laundering - $6 billion worth - moving proceeds, they say, of credit card fraud, identity theft, narcotics trafficking, child pornography. It's the Wild West of banking.


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