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gAtO rEaD - On October 30, 2012 yesterday the Times reported Iraq-reports on Money-Laundering on how 800 million American dollars is being sent out of the country each week. Itís not only drug lords, terrorist and government-agencies with 3 letters that play this game. Hiding money is as normal to a private equity firm as it is to a commercial cyber criminal. I will only use BitCoin in this example because itís the one digital currency that I understand, but there are other digital currencies that work just the same way..

ó "Money laundering is called what it is because that perfectly describes what takes place - illegal, or dirty, money is put through a cycle of transactions, or washed, so that it comes out the other end as legal, or clean, money.Ē ó

There are 3 stages of money laundering - Placement, Layering and Integration.

Placement: So the first step of hiding the cash is to get it out of your hot little hands.* Most popular way of doing this?* Putting it into digital currency (like BitCoins) or any non-fiat currency.
Layering: In a traditional money laundering, the next thing to do is farm out all of that cash into so many complicated transactions that the poor tracker assigned to your case loses his mind and decides to give up.*With Bitcoins it becomes a different puppy because they allow all transactions to be viewed - all transactions are public but all the wallets are private - There are services that claim to strip away at the last 3 wallets but I have not verified this, but if you want to give your bit coins to someone else and they will give you washed coins back in the digital black market -were nobody knows your name - well itís not a good thing and a possible point of LE (law Enforcement to get you)Ö *
Integration: Coversion of Bitcoins to fiat greenBacks - cash is going to be the tricky part but in todays world you can get a different ID in a few days and once you have a legit Money drop not traceable to you - your Bitcoins can come from one of many Digital exchanges. See chart below itís old 2010 but you can see how conversion of digital currency is really easy.
Excahnge Money Place - http://www.exchangemoneyplace.com and here is a http://goldexpay.com were you can also but Skype, uKash, World of Warcraft, Betamax, Amazon, Paysafe and others, LibertyReserve to Payza, Instant Exchange Liberty, Perfect Money, Pecunix, V-Money, WebMoney, Payza, PaYPaL,Lr,UkAsH,Mb,NeTeLLeR,Pm,LiqPay,CaShU,ALeRTP aY,PaYPaL VcC ExChAnGe SeRViCe

I wish it was harder but itís not - Moneygrams, S.w.i.f.t Money transfer or xBox Dollars- all can be had once you have your digital cash. Money laundering is easy in todays digital world but itís has to go slow and easy. As our current Presidential candidate Mitt Romney has shown us all if you plan right you can bury your cash in all kinds of deals - gATO OuT

gatoMalo_at_usCyberLabs_dot_com