How is bank card money laundering?

Main ways of bank card money laundering

Using bank card accounts to transfer money Criminals apply for multiple bank cards by using their own and their relatives' identity documents, borrowing others' identity documents or forging identity documents, and repeatedly transfer money between different bank card accounts by using transfer settlement, thus obscuring the source of criminal income and covering up its whereabouts until the nature, source and destination of criminal income cannot be clearly discovered, thus achieving the purpose of hiding and transferring criminal income.

Use bank cards to obtain loans, and then return the illegal gains to criminals to apply for high overdraft.

Credit card, directly obtain credit loans from it, repay with criminal proceeds before the repayment period, and conceal criminal proceeds.

Use false transactions to withdraw bank funds and use criminals to register short-selling companies for free first, apply for bank credit cards for those who need funds, conduct false transactions with short-selling companies, overdraw bank funds from customers with credit cards, and then charge a certain fee. At the same time, credit card overdraft can enjoy a maximum interest-free period of 56 days. Before the end of the interest-free period, you can cash out with a second credit card, and there will be a credit card with interest-free period. In this cycle, bank funds are used for free and illegal income is earned.

Using bank card fraud to launder money: first, using telephone and SMS to defraud bank card funds; The second is to use hacker software and network.

The virus steals the customer's bank card number and password; The third is to forge bank cards to cheat.

Using self-service banking equipment to launder money, criminals use ATMs to identify and prevent counterfeiting, and the equipment is outdated. They deposit counterfeit money into ATM machines, and then take advantage of the payment function of bank cards to extract real money from other ATMs, so as to clean counterfeit money and replace it with real money.