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Drugs, the Internet, Money-Laundering and Shell Companies

Drugs, the Internet, Money-Laundering and Shell Companies. Tom Bergin. Online Drug dealing Internet Payment Systems Shell companies. Drug dealing online. “FBI shuts alleged online drug marketplace, Silk Road” “Silk Road: The eBay of Illegal Drugs”

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Drugs, the Internet, Money-Laundering and Shell Companies

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  1. Drugs, the Internet, Money-Laundering and Shell Companies Tom Bergin

  2. Online Drug dealing • Internet Payment Systems • Shell companies

  3. Drug dealing online • “FBI shuts alleged online drug marketplace, Silk Road” • “Silk Road: The eBay of Illegal Drugs” • “After Silk Road's demise, online drug dealing moves to new sites” Source: Reuters, WSJ, The Verge

  4. Life cycle of online drug market Early 2011 – Silk Road begins operations March 2011 – Gawker reports on the site. June 2011 – U.S. Senators ask Attorney General to crack down on Silk Road Nov 2011 – Secret Service co-operating with overseas agencies on investigation Oct 2013 – FBI shuts Silk Road

  5. Challenges of online drug dealing • Secrecy • User Confidentiality • Traceability of shipments • Trust

  6. Internet payment systems

  7. Liberty Reserve“'Black Market Bank' Accused of Laundering $6 Billion” – ABC News

  8. Liberty Reserve Bank Mr. B Mr. A MoneyEx. MoneyEx. LRs LRs LRs Account A Account B

  9. B Co. (Caribbean) Ltd. Online Money Exchange (Unregulated) Online Money Exchange (Regulated) Bank (Unregulated)

  10. Technocash concedes 'one got through net' - The Australian

  11. Shell Companies

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