Abstract
This chapter investigates the concept of cyberlaundering and attempts to deconstruct the concept legally (See Leslie (2010, Chap. 3)). Bearing in mind that cyberlaundering borders the fields of money laundering and cyber crime, the chapter starts off by investigating the rationale behind the advent of cyberlaundering. Furthermore, this chapter attempts to understand and categorize cyberlaundering as a legal concept.
This chapter also delves further into some technical aspects of cyberlaundering by assessing the ‘tools’ used for cyberlaundering, in the form of electronic payment systems, which are conducive to the commission of the crime. One needs to understand this at the outset in order to fully grasp the different methods and techniques used by criminals on the internet. This enables one to get an idea of what cyberlaundering might look like in the future. The latter is important for two primary reasons: First, given that the understanding of the cyberlaundering phenomenon is limited, it would be useful to describe the current trend, in order to understand aspects of cyberlaundering better. Secondly, knowing the direction in which the cyberlaundering wind is blowing helps to devise the regulatory legal framework to minimize the dangers it poses.
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Notes
- 1.
- 2.
Murphy (2009, p. 1).
- 3.
- 4.
See paragraph 4.4.1 below.
- 5.
- 6.
Molly and Parker (2010, p. 23). Online gaming refers to gaming activities that occur within the environment of the internet.
- 7.
Cf Shelly and Vermaat(2010, p. 44).
- 8.
Living Internet (an undated internet article) ‘History of the Internet’ available at <http://www.livinginternet.com> [accessed on 10 February 2013]. Cf Ryan (2010, p. 3).
- 9.
Cf Ryan (2010, p. 3) and Living Internet (an undated internet article) ‘History of the Internet’ available at <http://www.livinginternet.com> [accessed on 10 February 2013].
- 10.
A breakdown of the figure shows the following: In Africa, there are about 118, 609, 620 people; in Asia 922, 329, 554; in Europe 476, 213, 935; in the Middle East, 68, 553, 666; in North America, 272, 066, 000; in Latin America, 215, 939, 400, and in Oceania/Australia, 21, 293, 830 people. See Internet World Stats <http://www.internetworldstats.com/stats/htm> [accessed on 15 July 2013].
- 11.
Internet World Stats <http://www.internetworldstats.com/stats/htm> [accessed on 15 July 2013].
- 12.
Internet World Stats <http://www.internetworldstats.com/stats/htm> [accessed on 15 July 2013].
- 13.
- 14.
British Broadcasting Cooperation <http://news.bbc.co.uk/2/hi/8548190.stm> [accessed on 15 July 2013].
- 15.
For more information on the projects of the ITU see <http://www.itu.int/africainternet2000/Documents/doc7_e.htm> [accessed on 15 July 2013].
- 16.
COM (2007) 697 and COD/2007/0247.
- 17.
Council of Europe: Council Directive 2009/136/EC, on universal service and users’ rights relating to electronic communications networks and services, adopted by the Parliamentary Assembly on 25 November 2009 and came into force on 18 December 2009. Cf Article 1 of the Council of Europe: Council Directive 2002/58/EC, on the processing of personal data and the protection of privacy in the electronic communications sector and Regulation (EC) No 2006/2004 on cooperation between national authorities responsible for the enforcement of consumer protection laws adopted by the Parliamentary Assembly on 12 July 2002 and came into force on 31 July 2002.
- 18.
British Broadcasting Cooperation available at <http://news.bbc.co.uk/2/hi/8548190.stm> [accessed on 15 July 2013].
- 19.
Government interference or regulation of the internet has always been a sensitive issue. As this study shows, regulation of the internet is very expedient in order to prevent problems such as cyberlaundering that plague economies the world over. However, the main issue is not whether or not regulation should occur, but the extent of it. For instance, in the United Kingdom (‘UK’), the controversial Digital Economy Act 2010 (Chapter 24) promises to deliver universal broadband in the United Kingdom (UK) by 2012. This law gives regulators new powers to disconnect or slow down the internet connections of illegal file-sharers and other cyber criminals. Countries such as France and Germany are also considering introducing similar laws. British Broadcasting Cooperation <http://news.bbc.co.uk/2/hi/8548190.stm> [accessed on 15 July 2013].
- 20.
Searching Cloud Computing (an undated website document) ‘Cloud Computing’ available at <http://searchcloudcomputing.techtarget.com/definition/cloud-computing> [accessed on 15 July 2013].
- 21.
Cloud computing differs significantly from a traditional hosting service, as it is sold on demand. The user can determine how much of the service it wants at a given time and the service is fully managed by the relevant provider. See Searching Cloud Computing (an undated website document) ‘Cloud Computing’ available at <http://searchcloudcomputing.techtarget.com/definition/cloud-computing> [accessed on 15 July 2013].
- 22.
- 23.
Pseudonymity refers to the case where one uses another’s name or takes on another’s persona in order to make an artistic or literary expression. Allonymity is a slight variant of the former, as it refers to a writer’s assumption of an historic literary figure in a literary writing.
- 24.
- 25.
- 26.
Palme and Berglund (2002, p. 2).
- 27.
- 28.
Cf Chapter 5, for detailed discussions.
- 29.
Baran (2011, p. 2).
- 30.
Youtube is owned by Google and is the world’s largest video sharing website, boasting billions of users from around the world.
- 31.
Baran (2011, p. 2).
- 32.
Baran (2010, p. 1). Cf Schroeder (2007) ‘Censored: List of Countries That Banned YouTube’ available at <http://mashable.com/2007/05/30/youtube-bans/> [accessed on 10 July 2013].
- 33.
Human Rights Watch (2011, p. 65).
- 34.
Hughes (2010, p. 1).
- 35.
Informatics is the science of information, the practice of information processing, and the engineering of information systems. Informatics studies the structure, algorithms, behaviour, and interactions of natural and artificial systems that store, process, access and communicate information, i.e. the computer. It also develops its own conceptual and theoretical foundations and utilizes foundations developed in other fields. Fourman (2002, p. 1).
- 36.
- 37.
This is highly debatable. One report shows that in the United Kingdom alone, banks lose up to ₤ 1 million per day in phishing and malware attacks. See Evron (2008, p. 1). Another report shows that, on an annual basis, an average of $ 52 million is lost to organisations in the United States alone as a result of cyber crime attacks. See ArcSight (2010, p. 1). These statistics, however, present sector-based facts. There are not very detailed statistics showing the economic impact of cyberlaundering as yet. However, riding on the notion that over $ 5 trillion is laundered on an annual basis (as far back as 2007), and that a substantial percentage is added through cyberlaundering, the statement would not be far-fetched. See Ehrenfeld and Lappen (2007, p. 1).
- 38.
See paragraph 2.4 below.
- 39.
See Chapter 5 for further discussion.
- 40.
- 41.
- 42.
Business Dictionary (an undated website document) ‘Electronic Payment System’ available at <http://www.businessdictionary.com/definition/electronic-payment-system.html> [accessed on 25 July 2013].
- 43.
Manzoor (2008, p. 213). Cf IGNOU (an undated website document) ‘Electronic Payment Systems’ available at <http://webserver.ignou.ac.in/virtualcampus/adit/course/cst304/ecom2.htm> [accessed 2 August 2013].
- 44.
- 45.
- 46.
Demetis (2010, p. 19).
- 47.
- 48.
See paragraph 2.2.1 below
- 49.
An instance where illegal funds can be derived from the cyberworld is when one profits from running an unlicensed website on the internet. See elaborate discussion in Chapter 5, paragraph 6.5.2 below.
- 50.
An example of this can be seen in several cyberlaundering techniques, such as virtual worlds, online banking, online gambling and online barter trade to name a few. See discussion in paragraph 3.5 below.
- 51.
Cf an alternative definition by the European Union: “Electronic money means electronically, including magnetically, stored monetary, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions […], and which is accepted by a natural or legal person other than the electronic money issuer.” See Article 2(2), Council of Europe: Council Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions, adopted by the Parliamentary Assembly on 16 September 2009, and which came into force on 30 October 2009.
- 52.
Webopedia (an undated website document) ‘Digital Cash’ available at <http://www.webopedia.com/TERM/D/digital_cash.html> [accessed on 04 August 2013]. Several other definitions of e-money have been proposed as well. For example, the Electronic Money Institutions European Directive defines it as monetary value as represented by a claim on the issuer which is: (i) stored on an electronic device; (ii) issued on receipt of funds of an amount not less in value than the monetary value issued; (iii) accepted as means of payment by undertakings other than the issuer.’ See Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit of and prudential supervision of the business of electronic money institutions (O.J.E.C. L275/39, 27/10/2002). The latter definition is very elaborate. One very important criticism that can be levied against it is that it confines the notion of electronic cash to monetary value, thereby automatically excluding internet cash, such as DigiCash and store reward points.
- 53.
Investopedia (an undated website document) ‘Electronic Money’ available at <http://www.investopedia.com/terms/e/electronic-money.asp> [accessed on 4 August 2013].
- 54.
Javelin Strategy and Research (2010) ‘Online Retail Payments Forecast 2010–2014: Alternative Payments Growth Strong but Credit Card Projected for Comeback’ available at <https://www.javelinstrategy.com/research/Brochure-171> [accessed on 4 August 2013].
- 55.
Javelin Strategy and Research (2010) ‘Online Retail Payments Forecast 2010–2014: Alternative Payments Growth Strong but Credit Card Projected for Comeback’ available at <https://www.javelinstrategy.com/research/Brochure-171> [accessed on 4 August 2013].
- 56.
Companies and Markets (2011) ‘The Future of Online and Mobile Payments’ available at <http://www.companiesandmarkets.com/Market-Report/the-future-of-online-and-mobile-payments-625842.asp> [accessed on 04 August 2013]. Cf Yahoo Finance (an undated website document) ‘Revenue of Online Payment set to hit $ 2700 billion by 2015’ available at <http://uk.finance.yahoo.com/news/Revenues-From-Online-Payment-businesswireuk-9382019.html?x=0> [accessed on 04 August 2013].
- 57.
- 58.
In the United States, between 2009 and 2010, e-commerce grew from an estimated $ 157 to $ 176 billion, respectively, and by 2015 this growth is expected to reach $ 279 billion. Forester (an undated website document) ‘United States (US) Online Retail Forecast, 2010 to 2015’ available at <http://www.forrester.com/rb/Research/us_online_retail_forecast,_2010_to_2015/q/id/58596/t/2> [accessed on 12 August 2013]. In Europe, it is estimated that the number of online buyers that currently stands at 157 million in 2011, and will grow to 205 million by 2015. Forester (an undated website document) ‘European Online Retail Forecast, 2010 to 2015’ <http://forrester.com/rb/Research/european_online_retail_forecast%2C_2010_to_2015/q/id/58597/t/2> [accessed on 12 August 2013].
- 59.
Chaudhary et al. (2010, p. 30).
- 60.
Cf Financial Action Task Force (2010c, p. 7).
- 61.
Cf discussion in Chapter 1 on smurfs and smurfing.
- 62.
Cf Financial Action Task Force (2010c, p. 7).
- 63.
FinCEN is the financial intelligence arm of the United States Department of Treasury. It is tasked with the regulation and control of financial crimes. See Financial Crimes Enforcement Network (2009, p. 2).
- 64.
Financial Crimes Enforcement Network (an undated report) ‘Money in Cyberspace’ <http//www.fincen.org/resource-moneyincyberspace/1212> [accessed on 17 June 2013].
- 65.
- 66.
Kellerman (2004, p. 3).
- 67.
Jamali (2009, p. 14) and Reuter and Truman (2004, p. 124). Countries in the Carribean have often been the dumping ground for funds derived from criminal activities, as they are known to have very weak financial systems. It is only recently that the Financial Action Task Force removed several of those countries from its black list.
- 68.
- 69.
Kellerman (2004, p. 3).
- 70.
Cybercash (an undated website document) ‘About us’ available at <http://www.cybercash.com/about/file/> [accessed on 19 June 2013].
- 71.
The Virgin pre-paid cards are especially popular in the USA, South Africa, the United Kingdom (UK) and other parts of Europe. For more information, see Virgin Cards (an undated website document) ‘About us’ available at <http://www.virgin.co.uk/pre-paidcards> and Freedom Eagle Card (an undated website document) ‘About’ available at <http://www.freedomeagle.com> [both accessed on 19 June 2013].
- 72.
Jamali (2009, p. 14).
- 73.
See Mondex Card (an undated website document) ‘About’ <http://www.mondex.com/about/> [accessed on 19 June 2013]. PayPal is another very similar example of a company that utilizes the peer-to-peer system. See PayPal (an undated website document) ‘About us’ available at <http://www.paypal.com> [accessed on 9 June 2010].
- 74.
See paragraph 3.5.4 below.
- 75.
E-gold (an undated website document) ‘About’ available at <http://www.e-gold.com/unsecure/qanda.html> [accessed on 14 August 2013].
- 76.
E-gold (an undated website document) ‘About’ available at <http://www.e-gold.com/unsecure/qanda.html> [accessed on 14 August 2013].
- 77.
E-gold (an undated website document) ‘About’ available at <http://www.e-gold.com/unsecure/qanda.html> [accessed on 14 August 2013].
- 78.
This is discussed extensively more elaborately in Chapter 5.
- 79.
Nakamoto (2009, p. 1). Cf Bitcoin (an undated website document) ‘About’ available at <http://www.bitcoin.org> [accessed on 8 August 2013].
- 80.
Scrofina (2011) ‘If one were to make a competitor for Bitcoin, what would it be?’ available at <http://www.quora.com> [accessed 5 August 2013]. Cf The Daily Attack ‘A comprehensive critique of the weaknesses of Bitcoin’ <http://thedailyattack.com/2011/07/23/a-comprehensive-critique-of-the-weaknesses-of-bitcoin/> [accessed 5 August 2013].
- 81.
Scrofina (2011) ‘If one were to make a competitor for Bitcoin, what would it be?’ available at <http://www.quora.com> [accessed 5 August 2013]. Cf The Daily Attack ‘A comprehensive critique of the weaknesses of Bitcoin’ <http://thedailyattack.com/2011/07/23/a-comprehensive-critique-of-the-weaknesses-of-bitcoin/> [accessed 5 August 2013].
- 82.
See Reuter and Truman (2004, p. 125).
- 83.
See paragraph 3.5 below.
- 84.
- 85.
- 86.
See Ecash available at <http://www.ecash.com/online/> [accessed on 4 August 2013]. Similar companies are CyberCash available at <http://www.cybercash.com> [accessed on 4 August 2013], and NetCash available at <http://www.netbank.com/~netcash> [accessed on 4 August 2013].
- 87.
In spite of the discussion in the preceding paragraph, e-wallet can also be considered as a prepaid token because it has the feature of a prepaid instrument, even though it is created by a software programme.
- 88.
Financial Action Task Force (2006, p. 4).
- 89.
Financial Action Task Force (2006, p. 4). Payments Council (2010) ‘The Way We Pay 2010, The UK’s Payment Revolution’ available at <http://www.paymentscouncil.org.uk//files/payments_council/the_way_we_pay_2010_final.pdf [accessed on 30 August 2013].
- 90.
Financial Action Task Force (2006, p. 4).
- 91.
- 92.
Financial Action Task Force (2006, p. 4).
- 93.
Reuter and Truman (2004, p. 123). Cf United States Government Accounting Office (2009, p. 1). See also Financial Crimes Enforcement Network (an undated report) ‘Money in Cyberspace,’ available at <http//www.fincen.org/resource-moneyincyberspace/1212> [accessed on 17 June 2013].
- 94.
A smart card certainly has numerous advantages, as it does not merely create convenience for individuals personally, but for governments and institutions as well. Recently, the Pakistani government partnered with a bank to distribute smart cards with a value up to about 25,000 Pakistani rupees to its citizens. At the same time the bank and the smart card company set up wireless point of sale terminals where people can buy basic supplies. This initiative comes as result of the fact that most Pakistanis are without bank accounts, making it impossible to make payments directly into any bank account. Financial Action Task Force (2010d, p. 13). Cf Visa Corporate Site (2010) ‘Financial Inclusion—Pakistan eases the burden of displaced citizens by delivering financial support through “Visa,”’ available at <http://www.currencyofprogress.com/_media/pdfs/case_studies/VISA_Inclusion-Pakistan.pdf> [accessed October 2010]. See also MONEYVAL (2012, p. 23).
- 95.
Payment News (2010, p. 23).
- 96.
United States Government Accounting Office (2009, p. 1). Also see Financial Crimes Enforcement Network (an undated report) ‘Money in Cyberspace’ available at <http//www.fincen.org/resource-moneyincyberspace/1212> [accessed on 17 June 2013].
- 97.
This is usually the case with the occurrence of identity theft, where criminals acquire monetary value by stealing another person’s details, like a credit card or account number. This is called identity theft.
- 98.
Mondex Card (an undated website document0 ‘About us’ available at <http://www.mondexcard.com/about/file838/> [accessed on 17 June 2010].
- 99.
This was noted by Stanley Morris (the director of FinCEN) in his 1995 address to the Congress Banking Committee, available at <http://www.fincen.org/resource> [accessed on 17 June 2013].
- 100.
The Know Your Customer principle was first introduced in section 100 of the Bank Secrecy Act (1970), PubL 91-508; 841114. The principle mandates financial institutions and the like to undergo a thorough vetting process for prospective customers before transacting with them. See more detailed discussion in Chapter 1.
- 101.
Freedom Eagle Cash Card available at <http://www.freedom-card.co.uk/> [accessed on 2 September 2010].
- 102.
Cf Encyclopedia (an undated website document) ‘E-Cheques’ available at <http://www.encyclopedia.com/doc/1O12-electroniccheque.html> [accessed on 4 August 2013].
- 103.
Encyclopedia (an undated website document) ‘E-Cheques’ available at <http://www.encyclopedia.com/doc/1O12-electroniccheque.html> [accessed on 4 August 2013].
- 104.
As depicted in Chapter 1, the three stages of money laundering are always described extensively in almost every discussion on money laundering. The following are some examples of works that provide such detailed discussions: Reuter and Truman (2004, p. 43), Madinger and Zalopany (1999, p. 54), Filipkowski (2008, p. 45) and Ping (2004, p. 43).
- 105.
Philippsohn (2001, p. 490). Also see Jamali (2009, p. 14).
- 106.
- 107.
See paragraph 3.5.4. below for a full discussion on this.
- 108.
See the full discussion on E-gold Ltd in paragraph 3.5.4. below.
- 109.
The process could be as simple as an existing customer of an electronic card company calling the company to credit an already exhausted smart card, or to give an order to transfer some value from an electronic card with illegal money to another person’s account.
- 110.
An online shell company serves as a vehicle for business transactions, without itself having any significant asset or operation. It is usually set up to aid the layering of funds, and has several key features, such as being registered in very unscrupulous jurisdictions and having an existing bank account that facilitates the movement of funds. See related discussions in Chapter 1. See also Reuter and Truman (2004, p. 33).
- 111.
Philipsohn (2002, p. 4).
- 112.
Jamali (2009, p. 14).
- 113.
See paragraph 2.4 below.
- 114.
- 115.
Filipkowski (2008, p. 6).
- 116.
Wise Geek (an undated website document) ‘What is online banking?’ available at <http://www.wisegeek.com/what-is-online-banking92338> [accessed on 12 June 2013].
- 117.
- 118.
The FDIC was created by the Banking Act of 1933 (Public Law Number: 73-66). The Act is generally known as the Glass-Steagall Act, after its legislative sponsors, Senator Carter Glass and Senator Henry B. Steagall. The Act introduced major banking reforms in the United States, which include a differentiation in the activities of commercial banks and investment banks. The FDIC currently guarantees the safety of deposits by individual depositors to the tune of $ 250,000. See Federal Deposit Insurance Corporation (2012) ‘Frequently Asked Questions About the FDIC’ available at <http://www.fdic.gov/about/affaq.html> [accessed on 02 August 2013].
- 119.
Act 18 of 1986.
- 120.
Filipkowski (2008, p. 6). Cf Ping (2004, p. 44).
- 121.
Ping (2004, p. 41). Cf Hunt (2011, p. 135).
- 122.
- 123.
The fact that the funds can be withdrawn later through the use of an ATM makes things the more easier. In May 2013, an incident described as the twenty-first century international bank heist occurred. This involved perpetrators in several countries who, within hours, and in concert, successfully stole $ 45 million from ATMs all over the world. The current state of online banking facilitated the success of this operation. See Bits (2013) “Daily Report: International ATM Theft Takes $ 45 million” <http://bits.blogs.nytimes.com/2013/05/10/daily-report-international-a-t-m-theft-takes-45-million/?_r=0> (accessed September 05, 2013).
- 124.
Jamali (2009, p. 18). Cf Marshall et al. (2005, p. 115) and Pillai and Juian (2008, p. 14).
- 125.
- 126.
Marshall et al. (2005, p. 115).
- 127.
Marshall et al. (2005, p . 115). Cf Jamali (2009, p. 19).
- 128.
Jamali (2009, p. 18). Cf Pillai and Juian (2008, p. 14). Another method by way of which one’s identity can be stolen online is through the use of spoof websites. These websites make certain attractive offers to the visitors on the condition that they provide them with certain personal details. See Atta-Asamoah (2009, p. 109).
- 129.
This is due to the large number of users of auction websites per month. They are now estimated at 16 million, and as a result of the concomitant side effects, 87 % of fraud cases are believed to be related to auction websites. As far back as 1987, when the internet was still in infancy, consumer complaints of online auction websites being used as tools for fraud was estimated at 1280 per annum. This rose to an unsettling estimate of 10660 per annum in 1999. Today, the complaints are innumerable. Newman and Clarke (2003, p. 15). Cf Haney (2001, p. 26) and Messner (2000, p. 4).
- 130.
Filipkowski (2008, p. 9).
- 131.
- 132.
online gaming was estimated as having a world-wide worth of US$ 20 billion as at 2010, with estimations showing an increase to US$ 30 billion by 2012, and with online gambling constituting more than half of the gross. KPMG (2010, p. 4).
- 133.
- 134.
In the period 1999 to 2001, the revenue derived from online gambling spiked from $ 651 million in 1999 to $ 2238 million in 2001 (See NUA (an undated website document) ‘Surveys’ available at <http://www.nua.org> [accessed on 3 August 2013]. In Europe, Italy has the biggest online gambling market, which grew from € 3.4 billion in 2009 to € 4.8 billion in 2010. In Greece, also, online gambling rakes in an estimated € 2 billion annually, and the government is considering taxing the industry and regulating it, considering that its annual revenue can go a long way in helping its crumbling economy. Despite the dwindling economies of these countries, this industry still thrives, and was unaffected by the recent recession that plagued several countries in Europe. See Online Poker News (an undated website document) ‘Italian Online Gambling worth € 4.8 billion’ available at <http://www.onlinepoker.net/poker-news/poker-law-industry-news/italian-online-gambling-worth-48bn-rising-legislation/9394> [accessed on 3 August 2013]. See also Streak Gambling (an undated website document) ‘Online Gambling worth 2bn in Europe’ available at <http://www.streakgaming.com/forum/online-gambling-worth-2-billion-greece-t22194.html> [accessed on 3 August 2013].
- 135.
Times (an undated website document) ‘Online Gambling’ available at <http://www.timesonline.co.uk/tol/news/politics/article620834.ece> [accessed on 21 July 2013]. Cf discussion in Schopper (2002, p. 309).
- 136.
In 2009, the number of online gambling sites was estimated at around 1800. This number was predicted to triple in the coming years. See The United States Government Accounting Office (2009, p. 1). Cf Financial Action Task Force (2009b, p. 2).
- 137.
Bumeter (2001, p. 2). Cf Schopper (2002, p. 310). A third form of online gambling, called live-based gambling, exists. It enables more interaction between players or participants in the gambling activity. However, it is not very significant for the purposes of this study, as compared to the other two forms.
- 138.
With this option, however, a cyberlaunderer need not even play or engage in actual wagering activities, given the possibility that funds could be merely ‘dumped’ into one’s account at a casino, which could be recorded as ‘winnings’ and which, thereafter, could be moved to another account, without the fear that the casino might be monitoring the activities in question. Cf Gottfried (2004, p. 26).
- 139.
Schopper (2002, p. 312). Cf Bumeter (2001, p. 7).
- 140.
This includes most countries in Europe, the Caribbean and North America. See KPMG International (2010, p. 23). In Africa, only South Africa has express provisions legalizing internet gambling, although these are subject to certain regulations under the National Gambling Act 7 of 2004.
- 141.
The Bombay Wager Act IV of 1887 (Part 1).
- 142.
Some states in the United States (US) such as Illinois, Indiana, Louisiana, Montana, Nevada, Oregon, South Dakota, and Washington have strong laws against online gambling. Bluejay (2012, p. 1).
- 143.
The Federal Wire Act 87 of 1961 (popularly called ‘The Wire Act’). In the United States (US), in a recent case of United States of America v. Scheinberg et al 10 Cr. 336 (2011) three online poker companies were indicted for circumventing United States (US) laws that prohibit the operations of unlicensed online gambling websites that accept illegal funds for the purposes of gambling online. The rationale was reemphasized that the electronic transmission of betting and wagering activities is illegal under the laws of the Wire Act.
- 144.
Schopper (2002, p. 304).
- 145.
- 146.
- 147.
E-gold (an undated website document) ‘About us’ available at <http://www.e-gold.com/unsecure/qanda.html> [accessed on 14 July 2013].
- 148.
E-gold (an undated website document) ‘About us’ available at <http://www.e-gold.com/unsecure/qanda.html> [accessed on 14 July 2013].
- 149.
There are several ways in which e-gold can be converted to traditional cash. One can load a debit card with e-gold and cash it out at an ATM. However, the debit card must be anonymous in order not to leave a trail. Most anonymous debit cards do not require any form of identification and social security numbers, such as Cash Cards Internationals and RoboXchange Cards. Another method of conversion is through the use of some ‘electronic money merchants’ who accept e-gold currency. These types of merchants will accept e-gold for cash at commercial merchants. Also, some merchants trade certain products for e-gold. For example, a smart card company known as ‘gCard’ can be purchased with e-gold, which can be converted to cash through an ATM. In addition, e-gold currency can be converted to traditional cash, using the e-gold cirrus maestro ATM debit card, which is cashable at most ATMs. Cf Grow et al. (2006) ‘Gold Rush: Online payment systems like e-gold Ltd are becoming the currency of choice for cybercrooks’ available at <http://www.businessweek.com/magazine/content/06_02/b3966094.htm> [accessed on 1 January 2013].
- 150.
Grow et al. (2006) ‘Gold Rush: Online payment systems like e-gold Ltd are becoming the currency of choice for cybercrooks’ available at <http://www.businessweek.com/magazine/content/06_02/b3966094.htm> [accessed on 1 January 2013].
- 151.
Grow et al. (2006) ‘Gold Rush: Online payment systems like e-gold Ltd are becoming the currency of choice for cybercrooks’ available at <http://www.businessweek.com/magazine/content/06_02/b3966094.htm> [accessed on 1 January 2013].
- 152.
See paragraph 3.3.2.4 above.
- 153.
Grow et al. (2006) ‘Gold Rush: Online payment systems like e-gold Ltd are becoming the currency of choice for cybercrooks’ available at <http://www.businessweek.com/magazine/content/06_02/b3966094.htm> [accessed on 1 January 2013].
- 154.
- 155.
E-gold (an undated website document) ‘Contact’ available at <http://www.e-gold.com/unsecure/qanda.html> [accessed on 14 July 2013]. Cf Phil Osborne’s quoted commentary in Kellerman (2004, p. 4).
- 156.
This is an example of a real-life scenario involving e-gold Ltd. See Grow et al. (2006) ‘Gold Rush: Online payment systems like e-gold Ltd are becoming the currency of choice for cybercrooks’ available at <http://www.businessweek.com/magazine/content/06_02/b3966094.htm> [accessed on 1 January 2013].
- 157.
- 158.
An avatar is a digital representation of an individual on the internet. An avatar can be created by the online gamer, who has the liberty of cloning this digital representation into any form or appearance he chooses. Given the highly developed state of graphic arts and designs at present, the idea of an avatar far exceeds merely a cartoon figure, as the semblance with reality is often uncanny.
- 159.
In many cases, for individuals seeking to use the business aspect of participating in virtual worlds, this task is outsourced to certain skilled individuals. Every avatar in a virtual world has to undergo evolution and development of skills, which it can perform within the virtual economy. Given the painstaking nature of the required evolution, at present, this initial process is being outsourced to certain persons in India, China, Pakistan or to most other developing countries with developed cyber expertise, who are, in turn, paid a few dollars as remuneration. Once avatars are brought up to a certain standard, they are then passed over to their original creator, who could then use them to invest considerable sums of money into the online economy. These persons are also known as identity brokers, who invest hours in creating and building up avatars to perform specific tasks in these virtual worlds, after which they are auctioned. Demetis (2010, p. 11).
- 160.
Klimmt (2011, p. 3).
- 161.
- 162.
Klimmt (2011, p. 3).
- 163.
There are several other types such as Twinity, Fregger, PlayStaion Home and There, which are mostly social virtual worlds that exist permanently in three dimensional (3D) display, popularly called metaverses. See Cornelius and Hermann (2011, p. v).
- 164.
- 165.
- 166.
- 167.
- 168.
Cf comparisons made in Drug Enforcement Administration (2007) ‘2007 National Money laundering Strategy’ available at <http://www.treas.gov/press/releases/docs/nmls.pdf> [accessed on 29 July 2010].
- 169.
SL currently has more than 20 million users. See Second Life (an undated website document) ‘Current User Metrics for Second Life’ available at <http://secondlife.com/xmlhttp/secondlife.php> [accessed on 22 July 2013].
- 170.
See Jamali (2009, p. 32).
- 171.
For more information see Second Life (an undated website document) ‘About us’ available at <http://www.secondlife.com/terms_of_service/> [accessed on 22 July 2013]. Cf Jamali (2009, p. 41). Interestingly, in 2010, being the first time ever, a real-world amount of US$ 1.5 million was used to buy a virtual island in Entropia Universe. Demetis (2010, p. 9).
- 172.
Second Life (an undated website document) ‘About us’ available at <http://www.secondlife.com/terms_of_service/> [accessed on 22 July 2013].
- 173.
Demetis (2010, p. 9). Cf Spiegel (2007, p. 3).
- 174.
Demetis (2010, p. 9).
- 175.
Demetis (2010, p. 9). Cf Spiegel (2007, p. 3).
- 176.
This principle originates from the Council of Europe: Council Directive 2002/38/EC on the value added tax arrangements applicable to radio and television broadcasting services and certain electronically supplied services, adopted by the Parliamentary Assembly on 7 May 2002 and which came into force on 1 July 2003. According to the Directive, VAT should be levied on the supply through electronic networks of software and computer services generally, and compliance is mandatory for all member countries of the European Union.
- 177.
This includes purchases from the land store, premium account registration, land use fees (tier), private region fees, LindeX transactions, and land auctions. Second Life (an undated website document) ‘About us’ available at <http://www.secondlife.com/corporate/vat.php> [accessed on 23 July 2013]. Cf Jamali (2009, p. 45).
- 178.
See paragraph 3.5.1 above.
- 179.
Jamali (2009, p. 45) and Klimmt (2011, p. 3).
- 180.
- 181.
This refers to the ability of online users to view general financial information held by their respective banks, but without the ability to conduct financial transactions. The FATF considers this method a low risk. Financial Action Task Force (2010d, p. 18). Cf World Bank (2008, p. 19). For a more detailed discussion on the risks that inhere in this method, see South African Reserve Bank (2008, p. 23).
- 182.
This method is very much akin to internet banking. This is because financial transactions conducted via internet banking can be conducted similarly on a mobile device. The FATF is of the opinion that mobile service and security account services are likely to be regulated and supervised. Therefore, this method bears little risk. Financial Action Task Force (2010d, p. 18). Cf World Bank (2008, p. 21).
- 183.
FATF (2010d, p. 18).
- 184.
For example, in South Africa, a bank contracted a mobile phone service provider to provide a banking service that allows accounts to be opened with a mobile phone, without the need for personal contact between the account opener and the bank. To allay fears of irregularity, the South African Reserve Bank issued a guidance paper that sets the minimum criteria that should be met in the identification and verification process when such accounts are opened. See Finaincial Action Task Force (2010d, p. 52). Cf South African Reserve Bank (2008, p. 12).
- 185.
Financial Action Task Force (2010d, p. 18).
- 186.
World Bank (2008, p. 14).
- 187.
Mobile Enquirer (undated internet article) ‘Mobile Payments to Grow to $ 200 Billion by 2012’ available at <http://www.mobileinquirer.com/2011/mobile-payments-to-grow-to-200-billion-by-2012/> [accessed on 12 August 2013].
- 188.
Little (2009) ‘Global M-Payment Report Update—2009’ available at <http://www.adl.com/uploads/tx_extthoughtleadership/ADL_Global_M_Payment_Report_Update_2009_Executive_Summary.pdf> [accessed on 12 August 2013].
- 189.
See the discussions in paragraph 3.3 above.
- 190.
Financial Action Task Force (2010d, p. 20).
- 191.
Financial Action Task Force (2010d, p. 20).
- 192.
- 193.
See Article 2 of the United Nations Convention against Transnational Organized Crime, adopted by the General Assembly of the United Nations on the 15th of November 2000, and came into force on 29 September 2003.
- 194.
In a recent report by the FBI, almost 90 % of all reported crimes in the United States in 2010 were money-related crimes. Internet Crime Compliant Centre (2010) ‘2010 Internet Crime Report’ available at <http://www.ic3.gov/media/annualreport/2010_IC3Report.pdf> [accessed on 9 August 2013].
- 195.
Cf discussion in paragraph 3.3 above.
- 196.
Cherrayil (2011) ‘Pirates still making headway in cyber crime’ available at <http://www.gulfnews.com/mobile/business/technology/pirates> [accessed on 4 April 2013].
- 197.
Online music piracy means music acquired illegally from the internet. See Recording Industry Association of America (an undated website document) ‘Who Music Theft Hurts’ available at <http://www.riaa.com/physicalpiracy.php?content_selector=piracy_details_online> [accessed on 9 August 2013].
- 198.
Recording Industry Association of America (an undated website document) ‘Who Music Theft Hurts’ available at <http://www.riaa.com/physicalpiracy.php?content_selector=piracy_details_online> [accessed on 9 August 2013].
- 199.
International Intellectual Property Association (2011) ‘Statement of the International Intellectual Property Alliance (IIPA): The Copyright Industries Celebrate ‘World Intellectual Property Day 2011’ and Call Upon Governments to Redouble Their Efforts to Combat Global Piracy’ available at <http://www.iipa.com/pdf/IIPA2011WorldIPDayStatement042611.pdf> [accessed on 9 August 2013].
- 200.
Groen (2011) ‘American ISPs take action against online piracy’ available at <http://www.futureofcopyright.com/home/blog-post/2011/08/24/american-isps-take-action-against-online-piracy.html> [accessed on 9 August 2013].
- 201.
See Internet Crime Compliant Centre (2010) ‘2010 Internet Crime Report’ available at <http://www.ic3.gov/media/annualreport/2010_IC3Report.pdf> [accessed on 9 August 2013].
- 202.
Techradar (an undated website document) ‘Online fraud worth billions’ available at <http://www.techradar.com/news/internet/online-fraud-trade-worth-billions-says-symantec-488116> [accessed on 9 August 2013].
- 203.
Internet Crime Compliant Centre (2010) ‘2010 Internet Crime Report’ available at <http://www.ic3.gov/media/annualreport/2010_IC3Report.pdf> [accessed on 9 August 2013].
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Domestic Laws Australia
Anti-Money Laundering and Counter-Terrorism Financing Act of 2006.
Belgium
Belgian Criminal Code (Wet houdende de voorafgaande title van het Wetboek van Strafvordering) 2012.
Canada
Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17).
Germany
Anti-Money Laundering (AML) Act of 2008 (Gesetz zur Ergänzung der Bekämpfung der Geldwäsche und der Terrorismusfinanzierung—GwBekErgG).
Banking Act of 1998 (Kreditwesengesetz in der Fassung der Bekannt mach ung vom 9. September 1998—BGBl. I S. 2776; Gesetz über das Kreditwesen Kreditwesengesetz—KWG).
Federal Data Protection Act of 2001 (Bundesdatenschutzgesetz—BDSG).
Freedom of Information Act of 2005 (Informationsfreiheitsgesetz).
German Criminal Code of 1998 (Strafgesetzbuch—StGB).
Suppression of Illegal Drug Trafficking and other Manifestations of Organized Crime Act of 1992.
Telecommunications Act of 2004 (Telekommunikationsgesetz—TKG).
Malaysia
Computer Crimes Act of 1997.
Netherlands
Dutch Criminal Code (Wetboek van Strafrecht) of 1994.
Nigeria
Nigerian Criminal Code Act 21 of 1972.
Singapore
Singapore Computer Misuse Act of 1993.
South Africa
Electronic Communications and Transactions Act 22 of 2002.
National Gambling Act 7 of 2004.
Regulation of the Interception of Communication and the Provision of Related-Information Act 70 of 2002.
Tasmania
Tasmanian Criminal Code Act of 1924.
United Kingdom
Computer Misuse Act of 1990, Chapter 18.
United States of America Federal Laws
Anti-Drug Abuse Act of 1988.
Annuzio-Wylie Anti-Money Laundering Act of 1992.
Banking Act of 1933 (Public Law Number: 73-66).
Bank Secrecy Act of 1970, 31 United States Code 1051 (Public law number 99–570).
Code of Federal Regulations [C.F.R.].
Computer Fraud and Abuse Act 1984, 18 United States Code 1030.
Crimes and Criminal Procedure Act of 1948, 18 United States Code 645; 683.
Cyber Security Enhancement Act of 2002, 18 United States Code 5710.
Digital Millennium Copyright Act 1998, 17 United States Code 2860 (Public Law 105–304).
District of Colombia Code [D.C. Code].
Electronic Communications Privacy Act 1986, 18 United States Code 2510.
Federal Rules of Evidence Act of 1975, Title 28, United States Code.
Federal Wire Act 87 of 1961.
Foreign Corrupt Practices Act of 1977, Title15 United States Code, Public Law 95–213.
Fraud and Related Activity in Connection with Computers Act 1986, 18 United States Code 1030.
Intelligence Reform & Terrorism Prevention Act of 2004.
National Infrastructure Protection Act 1996, 2 United States Code 3488.
NV Senate Bill 82-75th (BDR 14-266), adopted on 1 July 2009 by the House of Senate, Nevada, United States.
Money Laundering and Financial Crimes Strategy Act of 1998.
Money Laundering Control Act of 1986, 18 United States Code 1956; 1957 (Public law number 99-570).
Money Laundering Suppression Act of 1994.
Right to Financial Privacy Act of 1982, Title 12, United States Code.
Uniting and Strengthening America by Providing By Providing the Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001(Public law number 107-56).
United States Code [U.S.C].
Uniting and Strengthening America by Providing Appropriate Tools Required To Intercept and Obstruct Terrorism Act 115, Stat. 272 of 2001.
State Laws
Arkansas Criminal Code (Annex) of 2003.
Connecticut General Statute (Annex) of 2004.
North Carolina General Statute of 2002.
Michigan Compiled Laws, Act of 2004.
SB-82 (NV Senate Bill 82-75th, BDR 14-266) of Nevada, which came into effect on 1 July 2009.
Court Cases International Court of Justice
Belgium v Spain (Second Phase) ICJ Rep 1970 3.
Nigeria
The Federal Republic of Nigeria v Joshua Chibi Dariye [2007] EWHC 708 (Ch).
United Kingdom
Butera v Director of Public Prosecutions for the State of Victoria, (1987) 164 CLR 180.
Julian Paul Assange v. Swedish Prosecution Authority [2013] UKSC 22.
United States of America
Aguimatang v. California State Lottery (1991) 234 Cal.App.3d 769 [286 Cal.Rptr. 57].
California Bankers Association v. Schultz 39L ed 2d 812 (1974) n5.
Haag v. United States, 485 F.3d 1, 3 (1st Circuit) (2007).
International Shoe Co. v. Washington 326 US 310 (1945).
Perfect 10, INC v. Megaupload, Kim Schmitz 11cv0191—IEG (BLM) (2011).
United States of America v. Briscoe, 896 F.2d 1476, 1494 (7th Circuit) (1990).
United States of America v. E-Gold Ltd, Douglas Jackson, Barry K. Downey, and Reid A. Jackson, 521 F.3d 411, 417 (D.C. Circuit) (2008).
United States of America v. Foster, 986 F.2d 541 (D.C. Circuit) (1993).
United States of America v. Fujii, 301 F.3d 535, 539 (7th Circuit) (2002).
United States of America v. Hamilton, 413 F.3d 1138, 1142-43 (10th Circuit) (2005).
United States of America v. Khorozian, 333 F.3d 498, 506 (3rd Circuit) (2003).
United States of America v. Nippon Paper Industries Co. Ltd 109 F. 3d 1, 7 (1st Circuit) (1997).
United States of America v. Scheinberg et al 336 (10th Circuit) (2011).
United States of America v. Scholle 553 F.2d 1109 (8th Circuit) (1976).
United States of America v. Vela, 673 F.2d 86, 90 (5th Circuit) (1982).
United States of America v. Washington, 498 F.3d 225, 230-31 (4th Circuit) (2007).
United States of America v. $ 124,700 in U.S. Currency, 05-3295 (8th Circuit) (2006).
United States of America v. $ 425,562,539 551 F Supp 314 (1982).
Indictment Orders
“The United States District Court for The District of Colombia, Holding a Criminal Term, Grand Jury Sworn in on May 11 2006, United States of America v. E-gold, Ltd Gold and Silver Reserve, INC, Douglas L. Jackson, Barry K. Downey, and Reid A. Jackson as Defendants (Criminal No. 07-109): Indictment page 3. <http://www.justice.gov/criminal/ceos/Press%20Releases/DC%20egold%20indictment.pdf>. Accessed 13 Feb. 2013.
“In the United States District Court for the Eastern District of Virginia, Alexandria Division, United States of America v. Kim Dotcom, Megaupload Ltd, Vestor Ltd, Fin Batato, Julius Bencko, Sven Echternach, Mathias Ortmann, Andrus Nomm, and Bram van der Kolk as Defendants (Criminal No. 1:12CR3): Indictment, dated 5 Januaray 2012. <http://online.wsj.com/article/SB10001424052970204616504577171180266957116.html>. Accessed 13 Feb. 2013.
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Chapters from Books
Angers, L. 2004. Combatting cyber-crime: National legislation as a pre-requisite to international cooperation. In Crime and technology: New frontiers for regulations, law enforcement and research, ed. E. U. Savona. The Hague: Springer.
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Bassiouni, M. C., and D. S. Gualtieri. 2000. International and national responses to the globalization of money laundering. In Responding to money laundering: International perspectives, ed. E. Savona. Amsterdam: Taylor and Francis.
Busia, G. 2004. Privacy and investigative needs: Progressing from incompatible to complementary positions. In Crime and technology: New frontiers for regulation, law enforcement and research, ed. E. U. Savona. Dordrecht: Springer.
Casey, E. 2011b. Introduction. In Digital evidence and computer crime: Forensic science, computer and the internet. 3rd ed., ed. E. Casey. London: Academic.
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Casey, E., and G. Palmer. 2004. The investigative process. In Digital evidence and computer crime: Forensic science, computers and the internet. 2nd ed., ed. E. Casey. London: Academic Press.
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Pieth, M. 2007. The Wolfsberg process. In Anti-Money laundering: International law and practice, eds. W. H. Muller, C. H. Kalin, and J. G. Goldsworth. West Sussex: Wiley.
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Savona, E. U., and M. Migone. 2004. The fox and the hunters: How IC technologies change the crime race. In Crime and technology: New frontiers for regulations, law enforcement and research, ed. E. U. Savona. Dordrecht: Springer.
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Unger, B. 2007. The impact of money laundering. In Black finance: The economics of money laundering, eds. D. Masciandaro, E. Takats, and B. Unger. Massachusetts: Edward Elgar Publishing.
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Journal Articles
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Amedeo, A., M. Bagella, and F. Busato. 2008. Money laundering in a two sector model: Using theory for measurement. CEIS Tor Vergata Research Paper Series 6 (8): 128.
Atta-Asamoah, A. 2009. Understanding the West African cyber crime process. African Security Review: Organised Crime Trends in Africa 18 (4): 107.
Beebe, N. L., and J. G. Clarke. 2005. A hierarchical, objectives-based framework for the digital investigations process. Digital Investigation 2 (2): 146.
Bell, R. E. 2002. The prosecution of computer crime. Journal of Financial Crime 9 (4): 308.
Bishop, J. 2009. Enhancing the understanding of genres of web-based communities: The role of the ecological cognition framework. International Journal of Web-Based Communities 5 (1): 4.
Brenner, S. W., and B. Koops. 2004. Approaches to cybercrime jurisdiction. Journal of High Technology Law 4 (1): 1.
Brenner, S. 2004. Is there such a thing as virtual crime? California Criminal Law Review 4 (1): 1.
Carrier, B. D., and E. H. Spafford. 2003. Getting physical with the digital investigation process. International Journal of Digital Evidence 2 (2): 1.
Casey, E., M. Ferraro, and L. Nguyen. 2009. Investigation delayed is justice denied: Proposals for expediting forensic examinations of digital evidence. Journal of Forensic Science 54 (6): 1353.
Chawki, M. 2010. Anonymity in cyberspace: Finding the balance between privacy and security. International Journal of Technology Transfer and Commercialisation 9 (3): 183.
Chaudary, K., et al. 2010. Experiences in developing a micro-payment system for peer-to-peer networks. International Journal of Information Technology and Web Engineering 5 (1): 1 (IGI Global).
Chuah, J. 2000. The New EU directives to regulate electronic money institutions—A critique. Journal of International Banking Law 15 (8): 181.
Cuéller, M. 2003. The tenuous relationship between the fight against money laundering and the disruption of criminal finance. The Journal of Criminal Law and Criminology 93 (2/3): 311.
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Filipkowski, W. 2008. Cyberlaundering: An analysis of typologies and techniques. International Journal of Criminal Justice Sciences 3 (1): 233.
Frieden, J. D., and L. M. Murray. 2011. The admissibility of electronic evidence under the federal rules of evidence. Richmond Journal of Law and Technology 16 (2): 1.
Garber, L. 2001. Computer forensics: High-Tech law enforcement. IEEE Computer Society’s Computer Magazine 34 (1): 22.
Gill, M., and G. Taylor. 2004. Preventing money laundering or obstructing business? Financial companies’ perspectives on ‘Know Your Customer’ procedures. British Journal of Criminology 44 (4): 584.
Gottfried, J. 2004. The federal framework for internet gambling. Richmond Journal for Technology 10 (3): 26.
Haney, C. 2001. Auction sites hit hard by electronic crime. InfoWorld 23 (3): 25.
Hinsterseer, K. 1997. An economic analysis of money laundering. Journal of Money Laundering Control 1 (2): 154–164.
Hughes, S. J. 1991. Policing money laundering through funds transfers: A critique of regulation under the bank secrecy act. Indiana Law Journal 67 (2): 283.
Hunt, J. 2011. The new frontier of money laundering: How terrorist organisations use cyberlaundering to fund their activities, and how governments are trying to stop them. Information and Communications Technology Law 20 (2): 133.
Jacobson, M., and M. Levitt. 2010. Tracking nacro-terrorist networks: The money trail. Fletcher Forum for World Affairs 34:117.
Jailani, N., N. F. M. Yatim, Y. Yahya, A. Patel, and M. Othman. 2008. Secure and auditable agent-based e-marketplace framework for mobile users. Computer Standard and Interfaces 1 (30): 237.
Joinson, A. N. 2001. Self-disclosure in computer-mediated communication: The role of self-awareness and visual anonymity. European Journal of Social Psychology 31:177.
Kirtley, J. E. 2010. Symposium cyberspace & the law: Privacy, property, and crime in the virtual frontier: Mask, sheild, and sword: Should the journalist’s privilege protect the identity of anonymous posters to news media websites? Minnesota Law Review 94:1478.
Koker, L. 2006. Money laundering control and suppression of financing of terrorism: Some thoughts on the impact of customer due diligence measures on financial exclusion. Journal of Financial Crime 13 (1): 26.
Larguier, J. 1965. Civil actions for damages in french criminal procedure. Tulane Law Review 1 (39): 687.
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Leslie, D. (2014). Cyberlaundering: Concept & Practice. In: Legal Principles for Combatting Cyberlaundering. Law, Governance and Technology Series, vol 19. Springer, Cham. https://doi.org/10.1007/978-3-319-06416-1_2
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