Think they would only let him buy max $2,500. Relative of BigW lady?
Guy at Woolworths Checkout in Front of Us Trying to Casually Buy $5,000 of iTunes Credit. Seems Legit
captaincabinets on 28/06/2016 - 19:35
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He was paying with card though. Surely money laundering is mostly cash?
Depends if it was some kind of pre-paid card?
What they do is they are provided with stolen CC's and buy the cards. The cards are then resold.
money laundering = the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.
So no, not just cash. Its basically making illegal money to look legal.
Thats not a good definition. If it is cash, the origins are already hidden.
The goal of money laundering is to make it look like you earned the money legitimately.
That typically means a fake business that requires little effort, but makes lots of profit on the books.e.g. a restaurant that has hardly has any customers, but reports lots of turnover.
Bikies often run surprisingly profitable small businesses."The goal of money laundering is to make it look like you earned the money legitimately."
Not a good definition? Ummmm how is this not what you said?
The concealment of the origins of illegally obtained money, typically by means of transfers involving legitimate businesses.
You're both right, just the example is not the 'typical' way but just one of the many ways to launder money (think shell companies / Mossack Fonseca fiasco). Going to legislation is the easiest way here. As far as NSW goes:
CRIMES ACT 1900 (NSW) - SECT 193B
Money laundering
193B Money laundering
(1) A person who deals with proceeds of crime:
(a) knowing that it is proceeds of crime, and
(b) intending to conceal that it is proceeds of crime,
is guilty of an offence.
Did he want to pay in cash?
saw this as well at a woolies on the gold coast. trying to go through the self checkout.
this one was Asian persuasion.It depends…
A developer earns 70% of the gift card value so if he activates them he can buy international apps but will loose 30% which is $1500 in this case…
But hey he successfully laundered $3500…Edit:i just realised i stuffed the reply butto …
Money laundering. Don't step on the white powder he leaves behind. Might give you grieve at the Airport.
If there isn't a sleigh or reindeer about, it probably isn't snow.
He probably just works at a baker.. Why else would you be leaking flour?
"Baker" sounds more respectable than Drug Cook. lol
serious question: anyone can guess why (what for?)
Serious answer. it is most likely money laundering.
The credit card or cash used might have been stolen or credit card is fake.
The money might be counterfeit if cash was used.
Gift cards can't be traced.Excuse the silly question, but if it is indeed money laundering wouldn't the exchange to iTunes gift cards be not really that helpful, I mean you can only buy things on the App Store with iTunes gift cards right?
- As a side note, when I was little, I always thought it was super weird that mobsters would put their money through the washing machine! Took me a while to figure out that gangsters weren't buying pallets of OMO. :)
Yeah but you can now sell those gift cards for real money.
Just seems weird. Selling second hand or private iTunes cards, I'd have thought, would raise more uncomfortable questions than one might want to answer.
How much loss would you have to cut to be able to quickly on sell the cards, no questions asked? Anything south of 90% seems to me to be a fairly inefficient (not to mention time consuming) method of laundering money.
It's also quite a conspicuous method to launder money, no? You'd think people might remember someone purchasing $5K worth of gift cards, thus in some way compromising the intended sense of anonymity?
Or.. Am I way over thinking this?
@Jawanzar: Take the gift cards overseas or across the state and sell them via a legit business. I guess.
@Gfleece: Would it not make much more sense to buy Visa gift cards? Then you can just withdraw the cash instead of trying to find buyers at a knock down price.
Granted the banks would be more eager to investigate than Woolworths would be, but it doesn't really seem any riskier.
@callum9999: Visa cards etc have more security, visibility from the banks and can be cancelled/stopped easier and it's less common to on sell whereas iTunes or google cards can be sold in smaller chunks and get used in one go to add to an account.
@Jawanzar: Good questions but remember this is all free money from a presumably stolen credit card. So sell the itunes cards in small numbers (ebay/pub, not sure where the best places are??) for a slight discount and it's all profit.
@Gfleece: Buy them, walk to an ATM (or go straight to a checkout in Woolworths) and withdraw the money. The banks won't block them within minutes of purchase.
Might have to disagree with the trace bit, woolies activates the cards as you buy them, they have a record of the time and register, and they have CCTV to correlate these details, so if they really wanted to, just like any transaction cash or card, it still can be traced if you want to put the work in.
And I still don't see why you would buy and sell Apple gift cards? you have the "fake" cash which is as good as real cash if you spent it in small amounts at less sophisticated outlets/retails?
Isn't scamming a new "iphone" a much easier and faster way of liquidating your ill gotten funds for more profit?
Anyone one has some real experience on this subject?
Know of someone finding a card and using it at a local store. They were caught on CCTV which was then posted on local radio station facebook page and within 2 mins of it posted the person was identified.
Money laundering.
Buy iTunes cards with stolen/ drug money . Sell the iTunes cards. Pocket the legal money.
But where did they get the money to buy itunes card!
You need to "Tax" money to make it clean.
Cash in hand business is good. You have "plenty" of clients, getting a instant sun-tan, declare it as income, you're good.
( as seen in Breaking Bad with the carwash )I'm pretty sure most money people use to buy drugs are real. isn't like the movies where every drug dealer is getting busted for a 10mil deal of tainted police money.
So use cash to buy goods, and sell goods for cash? Sounds pretty inefficient to me.
Why do they buy so much?
read above
Yea i didnt refresh before that came up
Pay ATO, I saw a note at Big W today if ATO rings you to collect debt do not pay by gift card or itune card. Will try to take a picture of the note the next time I go to Big W.
I didn't even know this was a thing.
A fool and his money are soon parted.
ATO just don't like being outscammed…
“We will never request the payment of a tax debt via gift or pre-paid cards such as iTunes and Visa cards. Nor will we ask for direct credit to be paid to a personal bank account."
Obviously! For safety I only ever pay my taxes in dark alleys with used $20 notes. And I make sure I get a receipt!
I wonder how many people actually fall for it. Paying a government unit with gift cards does not even sound 1% legit enough to be convincing.
Like all of these scams, obviously enough fall for it to be worth their while. They're not doing it for fun, or just to annoy people (although sometimes it seems that way)
Looking at the link above, '26 people unfortunately paid $174,830 to fraudsters'. That's around $6500 per person, that seems pretty worth it. Even if it's iTunes gift cards they can resell at 20% off.
@tidus4eva: buys of itunes cards are obviously not on Ozbargain? which ozbargainer buys itunes at 20% off? 40% is the minimum an ozbargainer worth there salt would consider.
If everyone was on ozbargain, scammers out of business.
I know someone in the police that has seen this with people who have immigrated. They get a call and are told to pay in itunes cards or they will be deported. They get scared and buy these cards, once they hand them over… they are gone.
Recent case here in WA where a person sent several thousands to ATO scammers: http://www.communitynews.com.au/stirling-times/news/scarboro…
K Mart had a similar notice at their checkout registers today.
I'd almost certainly say it was a stolen/cloned credit card that was used that the person using it, could then sell the gift cards some place for cash. For those that are or are not familiar with darknet markets, you can buy some ones credit card details including all personal details like name, address, d.o.b and even pin number, for a few dollars. If you have your own equipment, you can literally churn out hundreds of credit cards a day, with all the correct info on the magnetic strip and chip
lol you dont need dark net for that. plenty of carding to see in clear net.
Not clear net it's cop net
If it's stolen, I would think that after the third card you buy, the CC gets blocked.
I challenge you to actually do this in real life.
All those stolen credit card details advertised on the dark net in those silk road type sites are fake and you will pay for numbers and names that do not work, you are the one being ripped off.If you are in the 'in crowd' (credit card hackers) which you and me will never be, then you may have access to buy real legit stolen credit card info.
Once again, I challenge you to go to a dark net marketplace and buy stolen credit card details that actually work.
Another possible reason is micro-transactions within popular games.
Micro-transactions in games often sell some form of DLC (Downloadable Content) that can be purchased multiple times - such as extra lives, in-game credit or eliminate cool-down time. A lot of games' financial success rely heavily on these consumables, where hundreds of dollars can easily be poured into the game without even realising.
They tend to purchase itunes cards on sale (20%-off is the most common discount) and sell these cards elsewhere for higher than what they paid, but lower than face value.
For example, the $100 itunes card would sell for $80 after the 20% discount. They would then sell these on ebay for $90. Presuming there are no ebay fees, they would then pocket $10 in profit. See this ebay link (or image mirror in case it goes down)
Ebay charges 10% in fees then paypal takes a cut not a profitable business model
When I saw 100s of cards being bought there was no sale on iTunes.
you can buy ice with itunes cards. Even drug dealers have ipads you know
or he be a butting film maker or musician. I mean have you seen the price of that software on the apple mac store.
Budding.
Thank you, I was running on fumes when I typed that.
Considering Apple pays next to no tax, has a history of persecuting it's workers and has billions sitting in offshore account I'd say this guy is the least of the 'apple' related issues.
PS
OP, if you have any more exciting finds on your epic adventures please tell.
Negged after 10 seconds, beat my own PB:)
has a history of persecuting it's workers
Newsflash from 10 years ago: the story was faked.
http://www.thisamericanlife.org/radio-archives/episode/460/r…
Here's a whole hour long retraction from the publication that broke the story.
Or just believe a website where anyone can upload what they want, your call. You seem pretty well informed.
@Diji1: What website are you talking about Diji? Everything is fuzzy, my leg is infected. How long does the hour long retraction last for?
@getcarter: Clearly zero interest in the fact that journalist fabricated an entire story and that it was retracted so I'll leave you to keep babbling rubbish that you learnt on Youtube.
Apple Fanbois are out in force today!
I have personal experience from the Shanghai Foxcon plant (let's just say the locals call it the Blood Plant) - but to be fair Apple isn't the only multinational that does all of those things.
They certainly are in fine mood today:)
What happened at the plant when you were there?
Agreed, many other 'naughty' firms out there.
Four people committed suicide in 24 hours (this was before they put up the nets).
Perhaps Apple cops it because of their "Holier than thou" general attitude.
I have to concede to taking the little "designed by Apple in Cupertino California" card out of a colleagues new iDevice and writing below it - "Manufactured in China by people who regularly commit suicide" and then putting it back.
@slewis69au: And what device did you post this from that magically was not manufactured in a big factory in Asia?
P.S. with 1.3 million employees, some of them are going to commit suicide. Their overall suicide rate is actually lower than the general population in many western countries.
@slewis69au: Foxconn workers population suicide rates are significantly lower than China's overall population average.
The only conclusion one can draw from this is you are less likely to commit suicide if you work at Foxconn.
@MrMcHairyHead:
Where was i taking the moral high ground? I was certainly taking the piss but not the moral high ground… Did i not say but to be fair Apple isn't the only multinational that does all of those things.Oversensitive defend your favorite company much?
@slewis69au: So here's your logic: "I can spew any hateful unfactual nonsense I want, but if someone calls me out on it, they're overdefensive!!!"
@MrMcHairyHead:
At what point was I either hateful or unfactual? I listed a personal experience and a joke I played on a mate who thought it was hilarious.You're grasping at straws now…
Bit jealous of being rich are you?
No, I'm not, but thank you for your question.
FWIW: I bought thousands of dollars (a bit over $4000.00 IIRC) worth of Flight Centre gift cards from this deal: Flight Centre Gift Cards at Woolworths, Get 20% Back as Woolworths Dollars (~16% off)
That 16% becomes a lot higher when your significant other works for the company (can use it on staff discounts as it's treated like cash in store) :-)I guess it makes more sense (for me) with FC, but there could easily be some legitimate reasons to buy iTunes GCs.
Also, could it have been Apple Store Gift Cards (different to iTunes)?One Woolworths store would only let me purchase a few per transaction, and a few (3?) transactions.
The other store that I went to later let me buy it how I wanted to.Why didn't you just ask the guy in front of you at the checkout what he was going to do with it? Red face = BS.
Oh I did. He said they were gifts for his friends.
He got scammed by his FB friends !
Can I be his friend
Probably don't want to mingle with somebody that's most likely a criminal.
He could've also been blackmailed via ransomware
There is a way to get cash out of iTunes Cards.
Making your own app and buying it?
I brought a $1,000 iTunes Cards… Birthday/Christmas for friends and family. But $4,000 is mostly like for RESELL..not drugs/illegal reasons.
Where did you bring them?
lol…yes madam
I'm sorry where is the huge market for iTunes cards. They sell approximately 2 per day on eBay and there are a lot of sellers. How is this fool selling all of these?
Chinese 'ebay'/shopping site… where all the Aussie Baby Milk Formula/weetbix ends up? he is making ~25% Profit
Money laundering or paying off his drug debts. Know someone who paid off his dealer in target gift cards.
Stolen credit card is possible but it could just be retail arbitrage. If you get more than a 30% discount then you can either buy your own app many times or just sell the cards. Were there any discounts on iTunes cards on the day you saw this? Combined with discounted wishcards or some credit card reward, it could be enough of a discount to make a profit.
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Just a bit of money laundering no biggie.