[45881] in Cypherpunks
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daemon@ATHENA.MIT.EDU (John Young)
Sun Dec 24 10:46:50 1995
From: John Young <jya@pipeline.com>
Date: Sun, 24 Dec 1995 10:40:04 -0500
To: cypherpunks@toad.com
12-24-95. NYPaper:
"Money Laundering, New and Improved. To really hide loot,
wait for the arrival of 'cybercash.' "
The days when you could trust a Swiss banker to hold on
to your millions and keep his mouth shut are long gone.
Embarrassing disclosure incidents are forcing any money
launderer worth his pocket change to go high-tech, using
the wonder of home-banking computer programs to zip
money across borders. What American authorities fear the
most, however, is the rise of "cybercash."
"The nightmare of it is that there is no registration of
every transaction, the way there is if you use a Visa or
Mastercard," said Stanley E. Morris, who heads the
financial crimes enforcement network.
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