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How one of the world's major money laundering networks operates

bookofjoe 13 hours ago | next [–] https://archive.ph/1f2mL I think a lot. 486sx33 7 hours ago | prev | next [–] Unfortunately, outlawing cash transactions really isn’t good for people. I know the cause sounds good here but the method isn’t wonderful. weitendorf 5 hours ago | parent | next [–] I don’t understand why […]

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How one of the world's major money laundering networks operates

I think a lot.

Unfortunately, outlawing cash transactions really isn’t good for people. I know the cause sounds good here but the method isn’t wonderful.


I don’t understand why digital financial transactions are so heavily regulated and scrutinized while cash still exists. Governments have even basically soft-killed Monero which is pretty much the only way to get actual cash-like semantics digitally. Yet cash is still given preferential treatment over traditional digital payments.

Very simple.
1. Orders of magnitude. Digital transactions can be billions in single transaction. While making large cash transactions in cumbersome and unrealistic.
2. Because they can. Regulating digital transactions is simple. Regulating cash – next to impossible.


Cash is grandfathered but (in the US) it’s really essential for some old people who don’t use tech, homeless people, anti-government survivalists, and “mark of the beast” conspiracy theorists. (A similar constituency is blocking federal IDs and digital IDs.) You wouldn’t think that’s a powerful bloc but apparently it is.


That is fair and I thought of that “old people might legitimately need it” case too when writing my other comment. But even that might only be the case for another 10-20 years.

You generally cannot open a bank account without address. It is trivial for criminals to do with darks. Last time I was between addresses no one would open me an account even with a US passport as it failed kyc with no address.

Yeah, I’m inclined to agree with this. The fact that Sweden, Japan, and China went 99% cashless shows that it can be done.

Japan did not, a few things even require it.


Maybe India more than Japan


A lot of drugs are cash only. Even marijuana in legal states like Michigan.


It is not just for old people, homeless people, etc. I do not have a credit card or a smartphone and I always pay in cash.


You’re a survivalist (whether you admit it or not).


People get scammed out of cash just as easily. See “The Day I Put $50,000 in a Shoe Box and Handed It to a Stranger. I never thought I was the kind of person to fall for a scam.” https://www.thecut.com/article/amazon-scam-call-ftc-arrest-w…

Cash is being made more and more inconvenient over time, presumably to push more people towards monitored transactions.


Cash transactions are vital under authoritarian regimes that would otherwise have potentially total surveillance and control over financial transactions, or for people who may be unable to open a bank account for whatever reason.


In most developed countries cash is too inconvenient for regular people to bother with it anymore except when they have to – it is just simpler to pay for things digitally or with a card. But even “free” governments already have total surveillance over digital transactions. So as the remaining legitimate uses (and users, since I think most regular people who would be legitimately harmed by going cashless are very very elderly people who would struggle to adapt) for cash die off pretty much the only remaining reason to use cash is to commit crime – the vast majority of which is tax fraud, which effectively harms every citizen who isn’t committing tax fraud.

>Basically, eventually cash will basically become the “crime mode” for its respective currency. I don’t see why it makes sense to continue to allow cash at that point.

This doesn’t really detail any money laundering scheme. This is just how to access scammed money. Simply cashing out a large deposit of tether isn’t laundering money. You still need a legitimate way to explain how you earned the money for it to be considered laundered.

Where I live, there is a chain of “vacuum repair” shops. There are like 4 – 5 of them in an area no bigger than 60 square miles. I’ve always assumed they were a money laundering front. Are that many people repairing their vacuums?


Doubtful, yet they’d probably rebuild your vacuum if you brought it to them.

Some of it might be a competition thing, where clustering is a Nash Equilibrium to prevent the other guy from taking unclaimed territory/customers.

So… I started scimming through the artcle, and they basically convert the money to cryptocurrency? Don’t know if the article really contained anything other interesting details.


The interesting bits are before that happens. You need money mules, you need brokers to find the mules for you, you need escrow companies to stop the brokers from running away with your money, etc.


So much work. makes me wonder why not just earn it legit. It’s like cheaters in school who use AI software and other tools. It would be less work to just study. I guess it does work or esle it the scams would not persist.


Not sure if I fully agree on that. Using AI as a tool can usually reduce the total time it takes to complete an assignment or project by like 50%, not to mention it also reduces the amount of time spent pulling your hair out feeling stuck by like 80-90%. Of course, you lose out on most of the learning experience but it’s not like the old days of smuggling in rolled up papers or writing inside a water bottle — “cheating” (if you can even call it that) has basically never been easier.


That’s why companies have leetcode interviews.


That’s great! Now try getting hired with nothing but a degree when everyone knows half the class did this shit.


> So much work. makes me wonder why not just earn it legit.

A lot of the people running these scams have been kidnapped and moved to lawless zones forced to scam people. They don’t really have the choice to do legitimate work.


> It’s like cheaters in school who use AI software and other tools. It would be less work to just study.

Grok makes a better, more coherent text when asked to explain the steps involved in money laundering based on this article.


This is the plot of the movie, ‘The Beekeeper’.


Only partially. This is Scambodia. The plot of The Beekeeper is US-based, and the head of that operation is the son of the President (or candidate? can’t remember exactly anymore).


Seems like the easiest way to launder or bribe someone is still crypto. Might not be an investor’s paradise, but certainly a launderer’s.


or you can just bring a bag of cash to buy a condo in NYC https://theweek.com/articles/736313/how-foreign-investors-la…


The Brazilian media reported that the Bolsonaro family bought at least 51 properties with cash.

At least Germany recently changed their laws (initiated by the Green Party) that prevents buying real estate with cash. But this has been a money laundering practice for the mob for decades.


Australia just implemented laws where you have to show where the money came from when buying property, gold, and some other stuff with cash.


Are you referring to Australia’s AML/CTF Tranche 2 reforms? If so, these actually come into effect on 1 July 2026.


You’re forced to take out a bank loan in Germany if you want to buy property?


Nope, but you can’t buy property with literal cash, crypto, or precious metals anymore. In Germany people use SEPA payments as the primary means to transfer money, and that is the intended way to handle big transactions.


I believe there are numerous ways to transfer money without using physical bills; disallowing cash for large purchases doesn’t imply a loan. Personal or certified Cheque, money order , wire, interac / email transfer are some of the options, I’m sure there are others.

Paying for things in cash is banned over a certain price (usually $10k) in some parts of the world.


Vancouver is also more than happy to help you out https://www.sanctions.io/blog/the-vancouver-model-of-money-l…


There have been changes in recent years that complicate this model because you are now required to register the beneficial (meaning the de facto, not de jure) owner of real property in BC. There was also an investigation into the casinos which culminated in the Dirty Money report [0]. Quite a few reforms came about as a result of that, chief among them that a source of funds declaration is required on buy-ins of $10,000 or more and mandatory identity verification is required on transactions of $3,000 or more.

Spreading misinformation hurts everyone.


I wonder how much of these kinds of issues that we are told are “complex” and “multi-faceted”, “no easy solution” etc could be significantly reduced if there was actual political will to do so.

The political will has to be globally coordinated and needs to mandate a basic standard of living for all.

Groan…..


If we had political will we could just kill everyone who disagrees.

The politicians and the police get their cut of the money, and the victims are in other countries. There’s a reason the scam industry operates out of poor places with dysfunctional government, like Myanmar and Cambodia.


Yep, the gambling / casino industry is largely responsible. And they have their roots deep in the political system.


There seems to be political will to ignore it

Agreed. It seems like billionaires are buying more and more of our means of communication. Makes it easier to control the narrative.


Buy crypto, convert it to Monero, transfer it around a bit, convert it to your destination currency. Done.


This is missing the most important step though, which is to actually launder the money. Concealing the source of the money is only half of the ordeal, making the money seem legitimate is the second, usually considerably trickier bit. If you suddenly receive $100k from a crypto exchange with no trace of how you came to own it, your bank is going to ask you some questions.


If it’s a one-time $100k you can just slowly withdraw small portions of it and probably nobody would notice. It depends how much you’re trying to launder.


The F.B.I., China’s Ministry of Public Security, Interpol and others have tried to combat scammers, who often lurk on social media and dating apps, luring people into bogus financial schemes or other ruses.

Where does your knowledge come from? With respect, how do we know you’re right and they’re wrong and not vice-versa? They spent a lot of time on it, went to Southeast Asia to see it for themselves, have editors, etc. That doesn’t mean they get it right always, but neither do people on HN.


you realise that something’s not just clickbait because you don’t understand it? Huione is a behemoth in the laundering-sphere; it’s intrinsically linked to Cambodian scam compounds, as well as handling every single step of the wash process in-house. These guys don’t just receive the stolen funds, but they link international clients with mules across literally thousands of Telegram groups before converting said currency into the Hui-one coin and then onto Tether. All of this is done within Hui-one’s infrastructure.

I have seen a few confirmations of this.


The article makes it pretty clear that China is the jurisdiction that is the hardest to evade.


> Interpol hardly does anything by comparison and have much less doggedness (it was the US who found Bin Laden for example). It typically helps the US, not actually initiates the investigation. At best its like a sidekick.

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32 Ways To Save Money Right Now

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32 Ways To Save Money Right Now

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JB Pritzker

David Weigel: Do you want to see New Hampshire vote first in 2024? JB Pritzker: To be clear, I’m not here about any of that. We just finished a presidential election. Could we take a breath and talk about the congressional elections coming up in 2026? We need Chris Pappas to win for the United […]

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JB Pritzker

David Weigel: Do you want to see New Hampshire vote first in 2024?

JB Pritzker: To be clear, I’m not here about any of that. We just finished a presidential election. Could we take a breath and talk about the congressional elections coming up in 2026? We need Chris Pappas to win for the United States Senate.

I think New Hampshire is a good early primary state — just as an observer of presidential elections, for a lot of years. I think it needs to be paired with other states, with other demographics. That’s absolutely possible now that we’ve got South Carolina, Nevada on the calendar. But New Hampshire is a really fascinating place, it’s a small place, and it allows people to come, when they run for president, and not need a lot of money, and be able to meet a lot of voters.

What role are you taking to help Democrats in 2026? How much of it is financial support?

I’ve traveled around the country to try to help Democrats everywhere. It’s been a personal endeavor, not so much about the financing of campaigns as it is about making sure that we’re pressing forward on the message of what we stand for. Right? We’re a party that stands up for working families, and the candidates that we support are the quality candidates that people want to serve in Congress.

I’ve also supported candidates financially wherever I could, and the Wisconsin race is a great example of that. Compared to Elon Musk, you might say that I got an awfully great return on investment. I think it’s $30-$40 million that he spent, not to mention offering, what, a million dollars a piece to a few people to get them to vote Republican? That seems illegal to me. But yes, I put my money where my mouth is. I happen to have the ability to support people financially.

One reason I ask is that, in Wisconsin, when Republicans were asked about Elon Musk’s spending, they’d point to you and say, Democrats have out-of-state billionaires too.

(Pritzker holds one hand high and one hand low, to illustrate the gap in their spending.) Elon Musk is one of the — well, the wealthiest person in the world, right? That was a very important race, and it’s going to make an enormous difference. The Republicans have been manipulating politics in Wisconsin, and I wanted to make sure that it was a fair fight.

Bernie Sanders has been rallying around the country, talking about the threat of an oligarchy. Do you think you’re included in that?

Well, would you put me in the same category politically as Elon Musk? I would not. I think what people talk about, when they talk about an oligarchy, is the group of the most powerful people in the society who are trying to impose their will on everyone else and make them pay for what the oligarchs are unwilling to pay for. That is clearly the opposite of what I believe in, right? I am a Democrat. I’m someone who believes in little D democracy, and someone who believes that the very people who ought to be in charge are the working families of our country, the working families of the state of Illinois, and not the wealthiest people in our state or in the country. You can use whatever word you like, but I’m saying, there’s a big difference between the people that Bernie Sanders is talking about and what I believe in.

Two questions about Congress. The House Education Oversight Committee is investigating whether the clinic at Northwestern’s Law School, which now obviously is the Pritzker law school, endorsed antisemitism by representing people in Gaza protests. Was that antisemitic, to defend those protesters?

I’m not getting involved in what they’re attacking universities about, except to say this: The attack seems to use antisemitism to actually go after what they believe are liberal institutions. The reality is that universities are places that house free speech, that give an opportunity to young people to exercise their academic capability. When there was a Muslim ban imposed in Trump’s first presidency, his first term, I went to O’Hare and there was a table of lawyers there to make sure that the law was being followed for people who were legal residents returning to the United States. I met the folks at that table, and some of them were from, guess what, the Pritzker School of Law at Northwestern.

I was very proud of that fact, right? These are young people who believe in something, they’re out there standing up for it. I don’t think the universities should be under attack by the federal government. So many of the great developments that exist in our society, our universities developed. So to have the federal government decide that they’re just going to pull away from universities and use antisemitism as an excuse seems un-American to me.

You’re also being invited to the House Oversight Committee to talk about “sanctuary cities.” What’s going to be your defense, if you go?

Yeah, they have about 800 different ways of defining a sanctuary state or sanctuary city. We have a law on the books that was signed by my Republican predecessor called the Trust Act. All it does is it says that our local officials, local law enforcement, can’t be sequestered by the federal government to do the federal government’s job — that what we need is for our police to be stopping violent crime on the streets of Chicago or across the state of Illinois. It lets police do their job.

By the way: I want every violent criminal who’s undocumented, a violent criminal who is convicted, removed from my state and the country. And I think every Democrat should be saying that from the rafters. What we also want is comprehensive immigration reform. What does that mean? It means that people who are law-abiding, hard working, tax paying people who happen to be undocumented and have been in this country for some years — that we ought to find some path for them, right? These are the very people that, if you had a good immigration system, you’d want to have come into the country.

My family came here as refugees. My family would not have survived if this country hadn’t let them in. So, I’m a believer that immigration is not just good because we’re saving lives, but also because it’s good for our economy. And let me add one other thing: We need to secure the border. This all goes together, securing the border and having comprehensive immigration reform and finding a path for people to stay legally in this country who are law-abiding, tax paying people. Right now, we’ve got a policy that’s ruining the country, taking up citizens and disappearing them from the streets and ignoring habeas corpus.

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'Virtually all my wealth

Bill Gates announced he will give away “virtually all” his wealth through the Gates Foundation in the next 20 years. The Microsoft founder plans to distribute around $200 billion through his foundation, that centers on global health and equity initiatives, before he shutters the organization in 2045. 5

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'Virtually all my wealth

Bill Gates announced he will give away “virtually all” his wealth through the Gates Foundation in the next 20 years. The Microsoft founder plans to distribute around $200 billion through his foundation, that centers on global health and equity initiatives, before he shutters the organization in 2045.

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Community raises money to help elderly Omaha man pay off summary judgement from yard care bill

OMAHA, Neb. (WOWT) – A senior citizen who fought an exorbitant lawn care bill lost in court, but he won the hearts of many viewers after a First Alert 6 Investigation.

He only needed the suit to play Santa, but Lynn Hendrix wasn’t sitting still about a $2,100 for six months of lawn service.

“I didn’t agree to anything past the first charge,” said Lynn.

That was two years ago, and Lynn paid $900, but Steve’s Yard Care argued he approved all applications and sent the remaining bill to The Collection Analyst, Inc., which won a judgment against the 83-year-old Lynn.

Chip Hendrix, Lynn’s son, is paying off his dad’s legal obligation with money raised through a GoFundMe site that was set up after First Alert 6’s initial report.

The court-ordered collection judgement has since been released.

“I’ll let my dad know and hopefully that will take some burden off him,” said Chip Hendrix, Lynn’s son. “If he understands. He’s just not very responsive anymore.”

Chip says his dad has medical bills and couldn’t afford the to pay off the collections judgement.

Several years ago during Christmastime, Brite Ideas Decorating near 156th and Blondo Street went from a ceramic Santa to a real one.

That real Santa was none other than Lynn.

When the owner of Brite Ideas, Travis Freeman, learned that Lynn faced a summary judgement, he decided to step in and return the favor that Santa usually brings with him.

Freeman says Lynn made life brighter in his holiday lighting store by sitting in the chair dressed as Santa for five Christmas seasons. Like many others, Travis contributed to the fund for Lynn, who’s currently in hospice care.

“That’s the last thing he needs to worry about in his final days, a judgement or getting a lien put on his house,” Travis said. “[We just wanted to] get that paid off so he doesn’t have to worry about that.”

And the GoFundMe goes way beyond the legal judgement, with almost $4,500 collected, which can help pay for some of Lynn’s medical bills.

“He was Santa for so long and all these people know him and love him,” said Chip. “I think that really helped with the response we got from the community.”

Chip says another lawn service is taking care of his dad’s yard, which only costs $280 per season.

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Fiserv Signs Definitive Agreement to Acquire Brazilian Fintech Money Money

Money Money expands Fiserv’s payment and financial services capabilities, providing working capital for Brazilian small businesses São Paulo, April 23, 2025 – Fiserv, Inc. (NYSE: FI), a global leader in payments and financial technology, today announced it has entered into a definitive agreement to acquire Brazilian fintech Money Money Servicos Financeiros S.A. (“Money Money”). This transaction […]

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Fiserv Signs Definitive Agreement to Acquire Brazilian Fintech Money Money

Money Money expands Fiserv’s payment and financial services capabilities, providing working capital for Brazilian small businesses

São Paulo, April 23, 2025 Fiserv, Inc. (NYSE: FI), a global leader in payments and financial technology, today announced it has entered into a definitive agreement to acquire Brazilian fintech Money Money Servicos Financeiros S.A. (“Money Money”). This transaction expands Fiserv’s services in Brazil, enabling small and medium-sized businesses (SMBs) to access capital that can be invested in the growth and maturation of their businesses.

Money Money operates a specialized financing engine connected to the receivables’ registry infrastructure regulated by the Brazil Central Bank to provide working capital and other financial solutions to SMBs, based on a robust business analysis. Its technology and expertise in the segment complement Clover’s strategy of supporting the development of Brazilian SMBs in their payment, management, and cash flow needs.

With the launch of Clover in Brazil, Clover Capital fueled by Money Money will be integrated with the Clover platform to combine risk analysis technology with the predictive performance of clients’ businesses to generate personalized offers with competitive rates. The solution advances capital to businesses with a range of payment plans, backed by future receivables based on the merchant’s prior sales transactions.

“By adding this service to our portfolio, we take an important step to boost the growth of our acquiring clients, facilitating their access to the necessary resources to invest in improvements and processes,” said Jorge Valdivia, General Manager of Fiserv in Brazil. “Our continued investment in the Brazilian market demonstrates our commitment to advance our clients’ business objectives by expanding our local capabilities.”

Clover was first introduced to the Brazilian market in December, offering a differentiated set of capabilities to local businesses that includes an all-in-one payment solution, cash flow support, native applications, and a marketplace of systems and automation tools from the company’s leading software partners (ISVs).

The acquisition is subject to regulatory approval and other customary closing conditions and is expected to close in the second quarter of 2025.

About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.

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Columbus Crew acquire $250000 in General Allocation Money from Houston Dynamo FC …

COLUMBUS – The Columbus Crew announced today the acquisition of $250,000 in General Allocation Money ($125,000 in 2025 GAM and $125,000 in 2026 GAM) from Houston Dynamo FC in exchange for a 2025 International Roster Slot. TRANSACTION: Columbus Crew today acquire $250,000 in General Allocation Money ($125,000 in 2025 GAM and $125,000 in 2026 GAM) from […]

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Columbus Crew acquire $250000 in General Allocation Money from Houston Dynamo FC ...

COLUMBUS – The Columbus Crew announced today the acquisition of $250,000 in General Allocation Money ($125,000 in 2025 GAM and $125,000 in 2026 GAM) from Houston Dynamo FC in exchange for a 2025 International Roster Slot.

TRANSACTION: Columbus Crew today acquire $250,000 in General Allocation Money ($125,000 in 2025 GAM and $125,000 in 2026 GAM) from Houston Dynamo FC in exchange for a 2025 International Roster Slot.

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