Hawala Provider

[JackAlabama]

Such a system can be used for both good purposes and, indeed, bad ones, much like how crypto has been and is being used. It's the ultra-criminals who ruin it for the rest of us, those who use the systems to sell their crappy drugs, trafficking, and other activities that harm innocent people.

"crypto" is not used much for this purpose. The state goons themselves claim that even in their fakenewspapers. Theres enough articles out there.
Why one might wonder? Bc the alternatives are well established and very easy to use.

 

[clemens]

"crypto" is not used much for this purpose. The state goons themselves claim that even in their fakenewspapers. Theres enough articles out there.
Why one might wonder? Bc the alternatives are well established and very easy to use.

This answer will require a much better and more detailed explanation. I can't see why they wouldn't use crypto for this purpose?

 

[JackAlabama]

This answer will require a much better and more detailed explanation. I can't see why they wouldn't use crypto for this purpose?

its derived from stats published, you can look these up.

And it makes sense.
imo its because its very new, all of crypto except bitcoin is highly unsafe (tether can freeze accounts in a heartbeat for example), so you are basically left with bitcoin which is unstoppable but is highly volatile and ppl dont understand it anyway both from an economical and technical point of usage, so they annot be bothered with much since you cannot just wire from binance app to coinbase app etc.

 

[wellington]

its derived from stats published, you can look these up.

And it makes sense.
imo its because its very new, all of crypto except bitcoin is highly unsafe (tether can freeze accounts in a heartbeat for example), so you are basically left with bitcoin which is unstoppable but is highly volatile and ppl dont understand it anyway both from an economical and technical point of usage, so they annot be bothered with much since you cannot just wire from binance app to coinbase app etc.

Crypto is terrible for crime. Period.

 

[wellington]

Three Men Charged With Running Hawala Scheme Responsible For Illicitly Moving More Than $65 Million Between The United States And The Middle East

Damian Williams, the United States Attorney for the Southern District of New York; Thomas Fattorusso, the Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”); and Christopher A. Nielsen, the Inspector in Charge of the...

www.justice.gov

 

[uplana]

I must admit that the response regarding crypto and crime is positive. When crypto can't be used for such things on a large scale, it will also suck that our dear authorities have once again just used the pretext to get crypto thoroughly regulated on that basis!

It's a bit like when Bush started a war based on the claim that Iran was about to build a nuclear bomb, which was only an illusion in the mind of a war-hungry man.

 

[jafo]

Three Men Charged With Running Hawala Scheme Responsible For Illicitly Moving More Than $65 Million Between The United States And The Middle East

Damian Williams, the United States Attorney for the Southern District of New York; Thomas Fattorusso, the Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”); and Christopher A. Nielsen, the Inspector in Charge of the...

www.justice.gov

They indicted three little guys for moving a measly $65M while big banks moved BILLIONS and were fined BILLIONS???

13 Biggest AML Fines ($500 Million Plus)

We list the 12 biggest anti-money laundering (AML) fines incurred by banks and financial institutions.

www.enzuzo.com

Goes to show who the real criminals are

 

[wellington]

They indicted three little guys for moving a measly $65M while big banks moved BILLIONS and were fined BILLIONS???

13 Biggest AML Fines ($500 Million Plus)

We list the 12 biggest anti-money laundering (AML) fines incurred by banks and financial institutions.

www.enzuzo.com

Goes to show who the real criminals are

Banks are protected as they have to do SARs in return for lower fines.

The federal agencies just tally up and must have files on everyone ready to pounce when they see fit

That’s why you see these large numbers, individual transaction accumulated over years to a large number.

The large number is for the press but broken down a transaction may be only 10,000$ etc

There’s always the argument why didn’t you stop it early on, the feds response is data gathering “allowing the perp to tie their own noose”.

 

[JackAlabama]

They indicted three little guys for moving a measly $65M while big banks moved BILLIONS and were fined BILLIONS???

13 Biggest AML Fines ($500 Million Plus)

We list the 12 biggest anti-money laundering (AML) fines incurred by banks and financial institutions.

www.enzuzo.com

Goes to show who the real criminals are

as always: Rules for thee but not for me

 

[Frank in Bangkok]

How to find Hawala easily:
- Find ethnic stores
- go to a casino in China, buy chips, you give the chips to a shadow bank, they wire the money where ever you want it.

Practical and useful tactics ... thank you, @DarkRevoMan for that post

And now, this funny comment about Hawala:
Cleaning out old files of papers today, came across this. Just one sheet of paper printed from the Internet, yellowed with age, maybe 20+ years ago. No idea at all of the source, but I would like to read more from that source! He wrote:

You can not march into the Bank of America with a quantity of opium and request AK-47 rifles and a case of hand grenades in exchange. You can not go to the Bank of Boroda with a briefcase full of currency and ask them to send it to a numbered account in Switzerland. You can go to a hawala banker and do both with ease.

Well ... probably not "with ease" ... certainly not nowadays.
Could be the beginning of new branch of science fiction -- stories of "financial science fiction".
Fun to think about possibilities, eh?

As the world policemen in Brussels and Washington are "de-funded" in various ways, the concept of Hawala might become useful, or even necessary, for financial survival.
The fundamental concept of Hawala is high trust and high privacy... at every step of every transaction.
And I can't imagine a Hawaldar taking your money, and then demanding proof of source of funds, or he will keep your money.
As financial systems break down all around the world, I think the concept of Hawala could become in demand.

 

[jafo]

The fundamental concept of Hawala is high trust and high privacy... at every step of every transaction.
And I can't imagine a Hawaldar taking your money, and then demanding proof of source of funds, or he will keep your money.
As financial systems break down all around the world, I think the concept of Hawala could become in demand.

I have a "friend" who uses (something similar to?) Hawala (I don't know my "friend" or his connections that well - wink wink). They wire transfer the funds to his bank accounts or his suppliers in China, and then my "friend" sends his cryptos to them or gives them the cash.
This IS high trust! No compliance officer BS. No copies of ID, birth certificate, utility bills, tax certificates, residency requirements etc etc

Also, my "friend" can go by and pick up CASH (yes, actual REAL CASH) and then send "his" (sometimes...it's NOT even "his") cryptos to the wallet provided by the cash purveyors. My "friend" says he's never tried anything more than a few million in cash, so he has NO idea how high they can go.

I wrote about it a few months ago here: Unlock the Gates of Success: Mentor Group Gold!

PS. People, travel! Go to high-class places. Accept the places as they "are." There IS a reason why they are like that! Start observing! Before you know it, you have "graduated."

 

[Frank in Bangkok]

I have a "friend" who uses ... wire transfer the funds to his bank accounts or his suppliers in China, and then my "friend" sends his cryptos to them or gives them the cash.
This IS high trust! No compliance officer BS. No copies of ID, birth certificate, utility bills, tax certificates, residency requirements etc etc

Mr. @jafo and I both see a huge market opportunity for "trust" and "privacy".
Not just write posts about it, but actually provide it as a service.
(Which is what Hawala does/did.)

I wish I could come up a way to turn that "hole in the market" into a product or service for sale.

The best I've been able to come up with are:
1. escrow in creative and flexible ways (already offered on OCT.)
2. insurance, also in creative and flexible ways.
3. bills of exchange in various/multiple currencies or gold
4. expensive artwork as steganography for moving value from place to place. (Already being done.)

On a personal note: I'm an expat in a very low trust culture.
The USA, where I'm from, used to be a high trust culture.
The Far East, where I live now, never was a high trust culture.
So I've experimented in my personal life with offering high trust transactions to people around me here.
At first they are stunned, but once they realize they are not being cheated, they are eager for more.

Is there any way to "monetize" trust and privacy (besides Halawa)?
Thoughts?