Payments News: E-Gold Under Scrutiny

[R. A. Hettinga]

--- begin forwarded text


 Date: Tue, 3 Jan 2006 12:44:36 -0500
 To: Philodox Clips List <clips at philodox.com>
 From: "R. A. Hettinga" <rah at shipwright.com>
 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 <mailto: rah at ibuc.com>
 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'

--- end forwarded text


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
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'