Hacker News
new
|
past
|
comments
|
ask
|
show
|
jobs
|
submit
login
dennisgorelik
on Sept 7, 2012
|
parent
|
context
|
favorite
| on:
Good riddance, PayPal
Money launderers launder money from stolen credit cards.
Chargebacks are filed a month or two later by owners of these stolen credit cards.
Daniel_Newby
on Sept 7, 2012
[–]
You are describing fraud. Money laundering is the redirection of the proceeds of illegal business to make it look like legitimate income.
dennisgorelik
on Sept 7, 2012
|
parent
[–]
Fraud IS illegal business. Purchasing goods using stolen credit cards is part of a process of making it look like legitimate income.
Guidelines
|
FAQ
|
Lists
|
API
|
Security
|
Legal
|
Apply to YC
|
Contact
Search:
Chargebacks are filed a month or two later by owners of these stolen credit cards.