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"The largest international money laundering prosecution in history" - Goodbye digital currency
05-31-2013, 12:49 AM #1
Octo Mother Superior
Posts:41,117 Threads:1,549 Joined:Feb 2011
I've never even heard of Liberty reserve before... fatman.gif

Swedish police have confiscated servers in Sweden at the request of US authorities as part of a massive money laundering investigation of Costa Rica-based digital currency service Liberty Reserve.

The raid was carried out in the Stockholm area last Friday, resulting in the confiscation of a number of servers suspected of playing a role in moving billions of dollars in digital currency around the world.

"It was obviously a system that could be used for money laundering," the man, who wished to remain anonymous, told the Dagens Nyheter (DN) newspaper.

Prosecutors in the United States unsealed an indictment on Tuesday, alleging the operators of Liberty Reserve were behind a $6-billion criminal money laundering scheme US authorities labelled "the largest international money laundering prosecution in history".

"As alleged, the only liberty that Liberty Reserve gave many of its users was the freedom to commit crimes – the coin of its realm was anonymity, and it became a popular hub for fraudsters, hackers, and traffickers," US Attorney Preet Bharara said in a statement.

Founded in Costa Rica in 2006, Liberty Reserve ran a digital currency trading system that boasted over one million users who could transfer money by submitting only a name, e-mail address, and birth date.

http://www.thelocal.se/48234/20130530/
Anonymous Kritter Show this Post
05-31-2013, 01:08 AM #2
Anonymous Kritter Incognito Anonymous
 

Costa Rica, where CIA Spooks et al go to retire. Who da thunk it money being laundered there.
05-31-2013, 01:12 AM #3
Octo Mother Superior
Posts:41,117 Threads:1,549 Joined:Feb 2011
Shocking isn't it.

coffeetime.gif
05-31-2013, 01:14 AM #4
Octo Mother Superior
Posts:41,117 Threads:1,549 Joined:Feb 2011
And in another twist of the nuts of digital currency:

Bitcoin Clampdown: Major Exchange Enforces User Checks

Bitcoin fans learned that one of the virtual currency's major exchanges will enforce customer verification checks from Thursday, two days after U.S. authorities revealed they had shut down a rival digital money transfer company.

Mt. Gox, the world's biggest Bitcoin exchange, announced on Thursday it had altered its code of conduct, meaning now users must now verify themselves to perform any currency deposits or withdrawals.

http://www.cnbc.com/id/100775839
05-31-2013, 01:21 AM #5
Kreeper Griobhtha
Posts:10,942 Threads:728 Joined:Feb 2011
(05-31-2013, 12:49 AM)Octo Wrote:  "It was obviously a system that could be used for money laundering," the man, who wished to remain anonymous, told the Dagens Nyheter (DN) newspaper.



The same can be said of any monetary or banking system.

coffeetime.gif

I am speaking of the life of a man who knows that the world is not given by his fathers, but borrowed from his children; who has undertaken to cherish it and do it no damage, not because he is duty-bound, but because he loves the world and loves his children… - Wendell Berry, 1971



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