There Goes PayPal As A Money Laundering Tool

from the for-those-of-you-who-do-that-sort-of-thing dept

Not that any of you would be using PayPal to stash cash overseas to hide it from the IRS, but if you were doing so... you might want to look for an alternative. We had noted last year that PayPal might be cooperating with the IRS, but apparently they were resisting at least some aspects of the requests from the IRS and the Department of Justice. However, a court has now ruled that the IRS has every right to investigate potential tax cheats using PayPal by requiring the company to turn over data on users who have credit cards from certain "tax haven" countries. It still is somewhat amazing that people actually would think that hiding money via PayPal was likely to work.

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  1. identicon
    discojohnson, 12 Apr 2006 @ 7:06pm

    Re: Re: You are wrong

    No, you're dead wrong. How about instead of believing everything you read on a website that is anti-[insert company here], read what the policy is. People like you blindly forward hoax emails and take them as the truth (go check out snopes before you do that again). I present for your reading pleasure:

    We may also share your personal information with:

    law enforcement or other governmental officials, in response to a verified request relating to a criminal investigation or alleged illegal activity; (In such events we will disclose name, city, state, telephone number, email address, User ID history, fraud complaints, and bidding and listing history.)


    this is from ebay's privacy policy

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