Quote:
Originally Posted by plsureking
my buddy opens a paysite and i open an affiliate account set at 70% revshare (max). we funnel all sales thru the affiliate account, meaning his own income is only 15% net after fees. you are depositing offshore, or have some random ass wire account, bang bang easy money laundering.
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Nah, that's tax fraud.
Money laundering would be something like this:
My buddy is a drug dealer but he wants to look like he runs a serious business with legal income. So he opens 10 bank accounts (friends, family members or fake IDs might help too) in different banks, receives 10 debit cards and loads each account with $500 every week. Nobody is going to ask about those $500 as that's too low sum of cash. He creates a ccbill affiliate account and opens a stupid ass blog with affiliate links on it.
He then "spends" all the money on various ccbill pay sites (ideally cam sites) using his own ccbill affiliate links and receives his affiliate cut. This way he earns perfectly clean money and if someone asks him what does he do for living - well he runs a successful blog.
After getting paid his affiliate money, he could ask for a chargeback on all those cards. Then ask the banks to issue him new cards, create a new ccbill affiliate account under another name and repeat. But since ccbill now verifies identities, it would be hard for him to create another account again, hence the KYC.