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E-Gold charged with money laundering
Robert Lemos, SecurityFocus 2007-04-30

UPDATE - Following a two-and-a-half year investigation, federal prosecutors charged online payment service E-Gold, its parent company Gold & Silver Reserve, and its three owners with four counts of violating the U.S. laws restricting funds transfers and money laundering, according to an indictment unsealed on Friday.

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E-Gold charged with money laundering 2007-04-30
Anonymous (2 replies)
Re: E-Gold charged with money laundering 2007-05-01
Anonymous (1 replies)
Re: Re: E-Gold charged with money laundering 2007-05-01
Matthew Murphy (1 replies)
You apparently can't understand one even simpler thing: they had no control over eGold. One of the charges was that eGold was an unregistered transfer business and was not reporting to the feds at all. Other, more legitimate transfer businesses do report. That reporting makes transfers easier to track, and allows more thorough investigation of transfers involved in criminal activity.

Your argument is based on a terrible avoidance fallacy, namely the idea that we should abandon policing efforts because someone else will be willing to step in and break the law. Should we not fight al-Qaeda because there are other terrorist organizations to take their place? Not fight piracy and drug cartels, because gosh, they'll be replaced? On face, the idea is profoundly ridiculous.

As someone who's interested enough in security to read SecurityFocus, you should really understand the difference between loss avoidance and loss elimination, and you should also understand why absolutist logic is virtually always fallacious and unreasonable.

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Link to this comment: http://www.securityfocus.com/comments/articles/11462/34499#34499
E-Gold charged with money laundering 2007-05-01
Anonymous (5 replies)
E-Gold charged with money laundering 2007-05-03
AnonymousWizbone
E-Gold charged with money laundering 2007-05-08
Mark Herpel (1 replies)
E-Gold charged with money laundering... help 2007-05-09
Anonymous (2 replies)
Re: What's going on? 2007-09-02
Dani (1 replies)
Re: Re: What's going on? 2007-10-14
Anonymous
E-Gold charged with money laundering 2007-05-15
DailyEclectic (1 replies)
Guilty: E-Gold or the Gov? 2007-09-16
Anonymous







 

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