Novel Techniques

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Novel Money Transfer Techniques

1. If only the recipient needs to stay anonymous, a bank account can be opened by the sender. An ATM card can be taken out for the bank account. The opener of the bank account loads a specified amount of money into the account, and then uses a skimmer to make a copy of the magstripe on the ATM card. They can then encrypt the magstripe to the receivers encryption key, and the receiver can encode the magstripe dump onto a blank magstripe card. They now can cash out the funds from the bank account at ATM's.

2. If both sides must stay anonymous, bank accounts can be set up with stolen identities and forged documents. This is highly dangerous. Access to anonymous bank accounts have such a high inherent value, that this system is more likely to be used in a market context (selling access to anonymous bank accounts) than used as a means to transfer funds. Once access to an anonymous bank account is established, along with an ATM card (or skim of one), funds can be moved via bank wire.

3. Money can be dead dropped, just like anything else.