Silk Road forums

Discussion => Security => Topic started by: dubious on February 08, 2012, 11:57 pm

Title: Providing Correct Information for Financial Institutions
Post by: dubious on February 08, 2012, 11:57 pm
I was just wondering if I was creating an extra security risk by providing correct information to the financial institutions I'm using to buy bitcoins (liberty reserve, trade hill, and swiftexchanger.com). Should I change my information to show a fake name and/or fake address on these websites? Is this unnecessary or could it create any negative consequences, such as if the websites found out I gave them fake information?
Title: Re: Providing Correct Information for Financial Institutions
Post by: CrunchyFrog on February 09, 2012, 07:42 am
Quote from: dubious
I was just wondering if I was creating an extra security risk by providing correct information to the financial institutions I'm using to buy bitcoins (liberty reserve, trade hill, and swiftexchanger.com)....
Bitcoins are traceable via the blockchain by design.  Unless you're somehow breaking the link back to your identity -- tumbling via online wallet or mix service -- *before* transferring to SR, then yes.

Quote from: dubious
...Should I change my information to show a fake name and/or fake address on these websites? Is this unnecessary or could it create any negative consequences, such as if the websites found out I gave them fake information?
If the potential of a wire fraud or money laundering indictment strikes you as a "negative consequence", then best not to lie to your financial institution(s).  Most mainstream commercial entities will cooperate with LE in a heartbeat; they don't want to lose their income stream by getting shut down for obstruction of justice.
Title: Re: Providing Correct Information for Financial Institutions
Post by: tordemon on February 09, 2012, 08:03 pm
Yea, tumbling is usually the best bet. SR already incorporates a few features in order to anonymize your transactions there, but they can only do so much.
Title: Re: Providing Correct Information for Financial Institutions
Post by: QTC on February 09, 2012, 09:24 pm
AML info requests are a nightmare scenario if you're laundering lots of BTC, just walk away.