Money Laundering days are numbered?

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New Smart Paper Could Put An End To Dark Money
Geoffrey Ingersoll | May 5, 2013, 12:28 PM | 3,798 | 16


100 dollar bill currency

The new $100 bill

Scientists have developed paper containing ultra-thin, undetectable Radio Frequency Identification Chips (RFID), and in doing so may have taken a huge step towards ending "dark money" cash transfers.

"The technique could be used to prevent fraud as well as provide a new meaning to the term 'paper trail,'" reports the BBC.

"Dark Money" has been described in political terms as money that's not traceable, can affect political contests or motivations, and most importantly that the populace knows nothing about.

Oftentimes dark money trades hands via digital bank transfers — big trouble is, those leave a trail. There's a more secure kind of dark money: hard cash.

Recently, Afghanistan President Hamid Karzai admitted that the CIA gave him "grocery bags of cash" to the tune of millions of dollars. He also said Iran had done the same thing, though Iran's cash transfers to Karzai came in the form of Euros.

The new technology (still patent-pending) uses a laser beam's energy to transfer the transfer the chips into notes, according to the BBC. Such a technological revolution could help staunch the global flow of illicit cash.

As Jeremy Hsu of the tech blog IEEE Spectrum put it, "A simple act of cash changing hands could become a lot less private."

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Will it be a better world? Who will benefit most? GOV or the population?

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
I think this is overdue ... the authorities shd have taken tough actions earlier....

I feel one of the reasons why these payment apps can offer low fees is because they not only save on phyiscal branches but also on the heavy compliance burdens imposed on traditional banks.

Europe's money-laundering crackdown goes beyond banks
Tue, Dec 24, 2019 - 5:50 AM

......After dirty-cash scandals involving hundreds of billions of euros rocked some of the continent's biggest banks, the Baltic region - where one of the the biggest cases yet erupted - has begun a fresh clampdown.

This time, the target is payment-service providers, which as well as facilitating e-commerce often help people send money around the world at low costs. The risk is that criminals use them to conceal illicit transactions while scrutiny is focused on traditional banks......

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