PokerNewsDaily reported on the ICE run payment processor that they established to
entrap process funds for several sites. The local fuzz got a cut of player’s money for being nice guys and not like those evil poker players involved in money laundering.
Here is a quote from the article:
From late 2009 through mid-2011, ICE HSI ran an undercover operation in which it operated a fake online payment processing company in order to catch online gambling companies transmitting money to and from the United States. The ICE-run payment processor, named Linwood Payment Solutions, processed over 300,000 transactions totaling over $33 million between December 2009 and January 2011, all for the two companies named in the indictment.
Don’t most site require a minimum withdrawal of $100? If we go with that and do the math, the withdrawals were $110 per transaction. Deduct the minimum and that 3-mil distributed among the 300,000. That won’t account for that many “click your mouse and lose your house” players. Looks like player’s like you and me were the norm.
And, I always thought money laundering involved big drug dealers or assorted guys with bent noses and funny nicknames. Silly me!