offshore sportsbooks/banking/bos - doj

gbogo · Jul 19, 2006

maybe another way of looking at it is this

a sportsbook for us customers has to have usd to pay players and hold deposits.

so even if they have the money sitting in a usd account in british virgin islands when they transfer the funds to pay someone through neteller or however the money will be transferred through a us bank - chase new york etc etc

this is where the doj steps in. they simply issue an order to stop the flow of funds through that account- the us bank will freeze the account and not allow transactions to be processed through it.

you then say well what if bos uses joe bloggs inc. as the account name based in panama. well once they target a company and identify the individuals signing the financials its not too hard to track down regardless of the name used.

its up until now they havent shown the motivation to go hunting for this information and stop it.

wolfie_cr · Jul 19, 2006

what you say makes a lot of sense, however as obvious as it seems they have not acted on that from an obvious attack vector (I wont get on the details on this)

every single day , millions of dollars go in/out of the US , you have a motivation? I will show you a way

gbogo · Jul 19, 2006

no they havent gone that far yet - because the order requests the money to be re-paid first

im just saying that when other people say this book or that book is safe - well in reality they all are as risky as one another because at some point the usd has to go through a correspondant bank in the usa.

its just whether they choose to do it or not

i cant speak for western union where you transfer to a person - this is basically relates to all e-checks neteller anything that involves wire transfer or direct bank account transactions. they all could be traced and stopped if this was the intention

wolfie_cr · Jul 19, 2006

they havent shown the intention nor have they shown the intention to commit $$$$$$$$$$ for the resources required to track it

be aware that despite all the blocks on credit cards.......there are still places that circunvent it.........that's just one example

gbogo · Jul 19, 2006

theres no way to circumvent the us banking system once they place an order on an account thats been blocked.

visa/mastercard are basically using their name to process your transaction so the bank doesnt know who the user is

but thats easy they just block it at the credit card level

you start playing these type of games your getting jail time not fines.

of course right now you can get around credit cards etc but if they get serious that will stop as well- again same as before we havent gotten that intense as yet.

sean1 · Jul 20, 2006

It will not be Joeblow inc, it will be every employee at BOS, etc(2000+) will have several bank accounts from which they can send out funds. IT would be a monumental effort to figure out who the 2000 are as they would come from individual accounts. And once the government were to start blocking these, they would open new accounts. It would cost billions to police all this.

In any case, I dont like the way the country is going - governing morality. Not just this issue, but many. While we are trillions in debt, we are worrying about issues and spending money that we do not have on issues that really are not worthwhile. (And I dont just mean gambling) Vancouver or sydney are both sounding a lot better to me. They are both on the water and real estate is reasonably cheap.

-Sean

gbogo · Jul 20, 2006

sean i agree that it unlikes to be pushed that far at this point

im just pointing out what is possible and whats not

as for bos using an employee well that wud be dumb as those records are public

this is my last post on this whole thing- kind of tired of it

bos are crooks and i just hope the players who were led up the garden path by the advertisements and promises of bonuses can get their money back.

SVT_Cobra · Jul 20, 2006

gbogo said:
no they havent gone that far yet - because the order requests the money to be re-paid first

im just saying that when other people say this book or that book is safe - well in reality they all are as risky as one another because at some point the usd has to go through a correspondant bank in the usa.

its just whether they choose to do it or not

i cant speak for western union where you transfer to a person - this is basically relates to all e-checks neteller anything that involves wire transfer or direct bank account transactions. they all could be traced and stopped if this was the intention

WU is making more money off the transactions than the books hold. WU is also a taxable corp. Now you know why they haven't been shut down.