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Date: Tue, 3 Jan 2006 12:44:36 -0500
To: Philodox Clips List
From: "R. A. Hettinga"
Subject: Payments News: E-Gold Under Scrutiny
http://www.paymentsnews.com/2005/12/egold_under_scr.html#more
Payments News
Tracking the world of payments...from Glenbrook Partners
December 31, 2005
E-Gold Under Scrutiny
January 9th edition of Business Week contains a lengthy investigative
report by Brian Grow on online money transfer systems like e-gold Ltd. The
article focuses on the potential use of the e-gold payment service by those
wanting to move money while skirting the reporting obligations associated
with US money laundering regulations.
Technorati Tags: E-gold, Money Transfer
E-gold is a "digital currency." Opening an account at www.e-gold.com takes
only a few clicks of a mouse. Customers can use a false name if they like
because no one checks. With a credit card or wire transfer, a user buys
units of e-gold. Those units can then be transferred with a few more clicks
to anyone else with an e-gold account. For the recipient, cashing out --
changing e-gold back to regular money -- is just as convenient and often
just as anonymous.
In an online extra, Business Week also looks at Russian-based WebMoney and
its customers as well as at Dr. Douglas Jackson, the founder of e-gold.
Posted by Scott Loftesness on December 31, 2005 at 06:34 PM in ECommerce,
Financial Regulators, Money Transfer | Permalink
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R. A. Hettinga
The Internet Bearer Underwriting Corporation http://www.ibuc.com/
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
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R. A. Hettinga
The Internet Bearer Underwriting Corporation http://www.ibuc.com/
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
