15++ Ebay gift card money laundering info

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Ebay Gift Card Money Laundering. They strike up a deal with someone online and sell the gift card in exchange for cash at a discount on the card price. Gift cards for stores or companies going through bankruptcy or going out of business if the cards are still accepted as a form of payment. Sellers must meet all these requirements when listing eligible gift cards. Within a few days I started receiving large orders and in 3 months I mailed over 30000 in cash.

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Lets say your friend buys you an Amazon gift card as a present bought and paid for legally. Scammers use stolen money laundered or through other stolen credit or gift cards to buy gift cards. In fact blocking bidders would be counterproductive. When she tried to pay for a MacBook worth 1700 with the gift cards the cashier was suspicious and needless to say it ended badly for her. The gift card must be in hand at the time of the listing and it must ship within 5 days of the date the card is sold. The gang used stolen credit card details to buy vouchers which they sold at a discount via eBay and other auction sites.

This category of prepaid card restricts purchases to a single merchant or to a small network of merchants and may not be used to access ATM networks.

In fact blocking bidders would be counterproductive. Gift cards for stores or companies going through bankruptcy or going out of business if the cards are still accepted as a form of payment. When she tried to pay for a MacBook worth 1700 with the gift cards the cashier was suspicious and needless to say it ended badly for her. Five UK men have been jailed for a money laundering scam that saw stolen credit card details used to buy iTunes vouchers that were then sold on eBay. Use stolen credit card information to buy a boatload of gift cards. If theres an expiration date it must be specified in the listing.

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Money laundering through eBay would not require blocking bidders. A large number of the cards I buy and sell may look like losses at first for example I recently bought a Best Buy gift card for 185 and sold it for 177 but if you factor in the rebates I got for that purchase such as 1850 in eBay Bucks 278 from a shopping portal and 185 credit card points that 8 loss suddenly turns into a 15 profit. The gift card must be in hand at the time of the listing and it must ship within 5 days of the date the card is sold. My father was scammed out of 2000 last summer by someone who convinced him to buy eBay gift cards in that amount for the purchase of a tractor off Craigslist. This screams money laundering to me.

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Approved third-party retailers or service providers can sell electronically-delivered gift cards on eBay provided they are vetted by eBay. The buyer buys it with say a stolen credit card. Much easier to buy gift cards in a store with cash. They were stopped by the police in Utah and are now sitting in jail for fraud and money laundering. EBay reduced the limit of gift cards which can be used per transaction from eight down to four heres what is says now and heres what it used to sayThe regular limits of 1000 per day and 1500 per calendar month still apply.

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Buying them on eBay requires a registered address verification etc -. Some prepaid cards can be used to withdraw money from ATMs. Money laundering through eBay would not require blocking bidders. Gift cards are for gifts not for payments. The gang used stolen credit card details to buy vouchers which they sold at a discount via eBay and other auction sites.

Source: ebay.com

The buyer buys it with say a stolen credit card. You didnt buy your cards with illegitimate cash and I doubt people are laundering money by buying gift cards on eBay. As I said I was 13 at the time and I was literally riding my bike to the bank and then the post office every day sometimes with over 500 cash in my pocket. Scammers use stolen money laundered or through other stolen credit or gift cards to buy gift cards. Simply pay cash at the store or shopping mall and transfer the same value onto the voucher to be used at the designated outlets.

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Sellers must meet all these requirements when listing eligible gift cards. The total face value of all their gift card listings at any given time must be 500 or less. Much easier to buy gift cards in a store with cash. You didnt buy your cards with illegitimate cash and I doubt people are laundering money by buying gift cards on eBay. Another woman was caught while buying expensive electronics with fraudulent gift cards.

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If theres an expiration date it must be specified in the listing. Use stolen credit card information to buy a boatload of gift cards. Doing some googling it appears that theres some sort of money laundering thing that some do. This category of prepaid card restricts purchases to a single merchant or to a small network of merchants and may not be used to access ATM networks. Scammers use stolen money laundered or through other stolen credit or gift cards to buy gift cards.

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Gift cards for stores or companies going through bankruptcy or going out of business if the cards are still accepted as a form of payment. Within a few days I started receiving large orders and in 3 months I mailed over 30000 in cash. Five UK men have been jailed for a money laundering scam that saw stolen credit card details used to buy iTunes vouchers that were then sold on eBay. The total face value of all their gift card listings at any given time must be 500 or less. A large number of the cards I buy and sell may look like losses at first for example I recently bought a Best Buy gift card for 185 and sold it for 177 but if you factor in the rebates I got for that purchase such as 1850 in eBay Bucks 278 from a shopping portal and 185 credit card points that 8 loss suddenly turns into a 15 profit.

Source: ebay.com

The seller and buyer are both located in Australia. Use stolen credit card information to buy a boatload of gift cards. Gift card vouchers can be the perfect solution for a birthday when youre not sure which present to buy. They were stopped by the police in Utah and are now sitting in jail for fraud and money laundering. 2 The scheme is so new that theres a dearth of known case histories.

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They strike up a deal with someone online and sell the gift card in exchange for cash at a discount on the card price. The total face value of all their gift card listings at any given time must be 500 or less. Try to sell those gift cards online for millions of dollars without getting caught. My original logic was that people with eBay gift cards could cash in. The seller and buyer are both located in Australia.

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The buyer buys it with say a stolen credit card. You didnt buy your cards with illegitimate cash and I doubt people are laundering money by buying gift cards on eBay. Another woman was caught while buying expensive electronics with fraudulent gift cards. 2 The scheme is so new that theres a dearth of known case histories. While casinos and banks are among the most established means for laundering money launderers are increasingly turning to such methods as online payment services and gift cards to move their illicit funds because they provide anonymity.

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A much better method would be to list HUGELY popular high value items have ZERO restrictions on bidders and then have your fellow money launderer place a bid for 10x or 20x or 100x the items possible value. You didnt buy your cards with illegitimate cash and I doubt people are laundering money by buying gift cards on eBay. Five UK residents were jailed on Friday over a conspiracy to launder money using iTunes gift vouchers. The gift card must be in hand at the time of the listing and it must ship within 5 days of the date the card is sold. They were stopped by the police in Utah and are now sitting in jail for fraud and money laundering.

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If someone calls with urgent news or a convincing story and then pressures you to pay them by buying a gift card like an iTunes or Google Play card and then giving them the codes on the back of the card stop. Money laundering through eBay would not require blocking bidders. You didnt buy your cards with illegitimate cash and I doubt people are laundering money by buying gift cards on eBay. Doing some googling it appears that theres some sort of money laundering thing that some do. Most of these type of listings seem to be based either in Asia or Africa but this freezer key one says Hollywood CA.

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The following types of gift. By Regents Risk Advisory Mar 19 2011 Fraud Integrity Fraud Money Laundering 0 comments. The gang used stolen credit card details to buy vouchers which they sold at a discount via eBay and other auction sites. If theres an expiration date it must be specified in the listing. The total face value of all their gift card listings at any given time must be 500 or less.

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