Prepaid Credit Cards.......attracting government attention

[Chainsaw Anthropologist]

It seems that a lot of drug-related money is being moved with these cards and the government is looking at them more closely. I would imagine you can expect some legislation regarding them soon.

http://news.yahoo.com/s/ap/20110523/...ney_laundering


"...The Treasury wants to require any business selling cards that can be used internationally to keep customer identity records and report suspicious transactions. That would affect more than 43,000 U.S. sellers including mom-and-pop groceries and stores such as Wal-Mart..."







c.a.

[lisa.lisa0302]

Sometimes I wish they would just leave people alone.

Prepaid cards are fast and easy. I was in Walmart one day, and the customer service line was wrapped the store. I stepped out the line, grabbed a prepaid card and went to the normal line and left happy.

If im out of town, and my bank is no where in sight, im not going to walk around with money orders on me. Im going to get a prepared card.

[pyramider]

The feds are trying to catch the money laundering. Apparently the criminal element has learned they can carry thousands of dollars on prepays rather than crossing borders with more the 10K. Its a brilliant way for the easy movement of money.

[guest060112-3]

Originally Posted by lisa.lisa0302

Sometimes I wish they would just leave people alone.

Prepaid cards are fast and easy. I was in Walmart one day, and the customer service line was wrapped the store. I stepped out the line, grabbed a prepaid card and went to the normal line and left happy.

If im out of town, and my bank is no where in sight, im not going to walk around with money orders on me. Im going to get a prepared card.

exactly. Though I do hate that in order to use them online or on the phone you have to have them registered to your social security number and all your info