Spam, Trojans, Law and Terrorism (and Gambling)

[webmonarch]

Interesting post about an online terror ring that used gambling sites to launder money, and a relatively pro-gambling commentary from the firm:

Spam, Trojans, Law, Terrorism (http://www.cyberlawonline.com/cyberlawg/security/spam-trojans-law-and-terrorism.html)

I was interested to note that the sites of concern were primarily smaller, save for Absolute.

[oldbookguy]

[ QUOTE ]
Interesting post about an online terror ring that used gambling sites to launder money, and a relatively pro-gambling commentary from the firm:

Spam, Trojans, Law, Terrorism (http://www.cyberlawonline.com/cyberlawg/security/spam-trojans-law-and-terrorism.html)

I was interested to note that the sites of concern were primarily smaller, save for Absolute.

[/ QUOTE ]

Perhaps it is best (you and the site you posted from) to actually read entire the article in the Washington Post and not do an FoF, highlighting the negative poker aspect.

first, the problem seems to have originated from stolen eBay info, careless users.

Poker sites are note mentioned until page three as follows:

running up thousand-dollar tabs at sites like AbsolutePoker.com, BetFair.com, BetonBet.com, Canbet.com, Eurobet.com, NoblePoker.com and ParadisePoker.com, among others. All told, al-Daour and other members of the group conducted 350 transactions at 43 different online wagering sites, using more than 130 compromised credit card accounts.

There is the hype, but......

Read the FULL STORY:

http://www.washingtonpost.com/wp-dyn/content/article/2007/07/05/AR2007070501153.html

Conclusion, lets shut down eBay, they are aiding Terrorists!

obg

[Legislurker]

I would think this is a poster case for regulation. Vigilant oversight with a government/international enforcement authority in place, this could have been stopped, maybe even prosecuted. As often as Gaming sites are used to launder money, they are as often a victim of online criminals/terrorists. I wonder how many times a site actually confiscated the money for chip dumping. Most people here realize how risky it is to run money thru poker sites that you arent really plaing with, especially nosebleed amounts.

[davmcg]

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I would think this is a poster case for regulation. Vigilant oversight with a government/international enforcement authority in place, this could have been stopped, maybe even prosecuted. As often as Gaming sites are used to launder money, they are as often a victim of online criminals/terrorists. I wonder how many times a site actually confiscated the money for chip dumping. Most people here realize how risky it is to run money thru poker sites that you arent really plaing with, especially nosebleed amounts.

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There is zero chance that "regulation" of gaming sites would have stopped this. You clearly don't know anything about money laundering - in this case money was stolen using credit cards on online sites not laundered. If withdrawals were always recredited to cards this couldn't happen, (this is what used to happen until the cc companies stopped it). So go moan to them.

[DrewOnTilt]

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[ QUOTE ]
I would think this is a poster case for regulation. Vigilant oversight with a government/international enforcement authority in place, this could have been stopped, maybe even prosecuted. As often as Gaming sites are used to launder money, they are as often a victim of online criminals/terrorists. I wonder how many times a site actually confiscated the money for chip dumping. Most people here realize how risky it is to run money thru poker sites that you arent really plaing with, especially nosebleed amounts.

[/ QUOTE ]

There is zero chance that "regulation" of gaming sites would have stopped this. You clearly don't know anything about money laundering - in this case money was stolen using credit cards on online sites not laundered. If withdrawals were always recredited to cards this couldn't happen, (this is what used to happen until the cc companies stopped it). So go moan to them.

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You just contradicted yourself. It would be quite simple to include in any regulations a clause requiring withdrawals to be credited back to the same deposit method used, thereby alleviating the possibility of credit theft. It is my understanding that most credit card companies still allow credits back to the account from gaming sites for non-US accounts, anyway.

[davmcg]

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[ QUOTE ]
[ QUOTE ]
I would think this is a poster case for regulation. Vigilant oversight with a government/international enforcement authority in place, this could have been stopped, maybe even prosecuted. As often as Gaming sites are used to launder money, they are as often a victim of online criminals/terrorists. I wonder how many times a site actually confiscated the money for chip dumping. Most people here realize how risky it is to run money thru poker sites that you arent really plaing with, especially nosebleed amounts.

[/ QUOTE ]

There is zero chance that "regulation" of gaming sites would have stopped this. You clearly don't know anything about money laundering - in this case money was stolen using credit cards on online sites not laundered. If withdrawals were always recredited to cards this couldn't happen, (this is what used to happen until the cc companies stopped it). So go moan to them.

[/ QUOTE ]

You just contradicted yourself. It would be quite simple to include in any regulations a clause requiring withdrawals to be credited back to the same deposit method used, thereby alleviating the possibility of credit theft. It is my understanding that most credit card companies still allow credits back to the account from gaming sites for non-US accounts, anyway.

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a) No set of government regulations would ever include that kind of detail - go and read some.

b) CC companies and gaming sites don't like being defrauded - so I have no idea why recrediting is not permitted by some CC providers, but regulation or otherwise is irrelevant to the issue.