https://globalchinapulse.net/moving-bricks-money-laundering-practices-in-the-online-scam-industry/
amazing read on how the scamming industry has created its own banks and values/bonds of trust.
Taking investment scams as an example, what happens after someone takes the bait and invests in the fake financial product? First, scam operators will coach them to invest money at certain times, claiming they have privileged information that enables them to predict trends, but also warning that the investment will be profitable only if it is made within minutes. Once the target agrees to proceed, the scam operator will send a message to the Telegram group run by the gateway explaining the currency and amount of money about to be remitted by the scam target. Brokers at the gateway will then send the details to the motorcade group to match bank accounts. After the motorcade group provides the information, the gateway will send the appropriate details and trading rules back to the scam operator.
The CEO of Company P shared with me his view on cyber-scams. For him, the distinction between legal and illegal is an issue of power rather than law and behind it lies the question of 'who has the power to define what is illegal?'. Power, in turn, depends on access to social resources. In international money-laundering transactions, the actors involved are often at war with the financial systems of different countries and know how to play with their rules. In Cambodia, they can get the payment service provider and banking licences they need to enter the Cambodian financial system and build apparently legitimate fronts, but it would be a mistake to blame this exclusively on the shortcomings of the Cambodian political and financial systems: some companies have also obtained cryptocurrency exchange licenses in a compliant manner in European countries.
