Quote:
Originally Posted by k0nr4d
How does dealer get dirty cash into MFC exactly? He'd have to transfer it electronically somehow.
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It's really easy. Drug Dealer overpays his credit card with dirty cash. Let's say his credit card limit is $25,000 which is an average credit limit. He contacts his credit card company and asks for an increase. Cc will ask him what he is hoping to increase it to. Dealer says $15,000-20,000. Two things will happen at this point.
A. The credit request is approved so dealer has $40,000-45,000 to use. Spends it in MFC. Pays off the credit card balance with his dirty cash when statement arrives at the end of the month.
B. Credit request is declined. Dealer immediately tells cc agent he needs to make some purchases online for items which will exceed his current limit which is why he needed the increase. The innocent "so what do you suggest I do"? Cc agent will inform dealer he could prepay/overpay past his cc current limit. Cc agent will put a note on his file that he will be overpaying his card to make a big purchase. It's important the agent leaves a note on his file otherwise it will be flagged when he overpays. Especially if it happens multiple times. But once the note is placed on the dealer's file, he can overpay anytimeand it will never be flagged by the system or fraud prevention department.
Dealer then overpays his card and uses it on MFC. Pays off cc at the end of the month. Rinse and repeat. There are other methods to washing dirty money like Gift Card Purchases, Prepaid Credit Cards, and obviously offshore banking/transfers. Furthermore, local Bitcoin meet ups which every city has, like a mini bitcoin convention, you wash money there too. Bank of America places limits but Canadian Bitcoin exchange never places any limits