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Thread: Where to find Liberty Reserve money?

  1. #11
    Will.Spencer's Avatar
    Will.Spencer is offline Retired
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    Quote Originally Posted by Charles View Post
    In NZ, that's an act of fraud (even with permission).
    That seems more than a little odd.
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  2. #12
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    elbandelero is offline Net Builder
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    Quote Originally Posted by Will.Spencer View Post
    Be careful in trying to fool PayPal. You're in the EU. PayPal will let you open an account and put money into it with only a VCC. But when you try to spend the money, PayPal will demand a copy of your government issued photo ID.
    That's not strictly the case. Anyone in the EU can open a Paypal account and use the funds, and verification isn't asked for until you have deposited 1000€ into the account, and if you still don't provide verification when the account hits deposits of 2500€ then your account is suspended.

    Verification happens in two steps, the first is verification of your bank account number or credit card by depositing a few cents into the account, which must also be in the country you are resident in. Then follows verification of your identity and shipping address, both of which require you to upload or fax copies of your ID or passport, and a utility bill, residence certificate, or bank statement.

    These rules are part of the EU anti money laundering legislation and have little to do with Paypal in Europe, and non-residents opening Paypal accounts here and using a VCC to verify it could find themselves in serious trouble with tax and customs authorities, and all assets in the EU confiscated.

    I realise someone in India or China who never plans to visit the EU might not be concerned about this, but remember the EU is at the forefront of money laundering initiatives and is applying pressure on other nations to comply with their regulations, and after the debacle of the US financial crisis EU pressure means a lot more these days since the Euro is one of a small handful of currencies in demand for being stable.

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  4. #13
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    Quote Originally Posted by elbandelero View Post
    That's not strictly the case. Anyone in the EU can open a Paypal account and use the funds, and verification isn't asked for until you have deposited 1000€ into the account, and if you still don't provide verification when the account hits deposits of 2500€ then your account is suspended.

    Verification happens in two steps, the first is verification of your bank account number or credit card by depositing a few cents into the account, which must also be in the country you are resident in. Then follows verification of your identity and shipping address, both of which require you to upload or fax copies of your ID or passport, and a utility bill, residence certificate, or bank statement.
    Thanks for the detailed clarification!
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  5. #14
    bluemouse2 is offline Newbie Net Builder
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    Is Liberty Reserve becoming the "new e-gold"?

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    I hope not, the old e-Gold got the founders in a lot of legal trouble.

    It was crazy. They were clearly not-guilty of violating the letter of the law, but the prosecutor convinced a gullible jury that they were bad guys and guilty of violating the spirit of the law.

    It was a travesty of justice, even if the e-Gold founders were bad guys.

    If LibertyReserve is still doing business, I can only imagine that it is because they have opened their legs to the federal government.
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    bluemouse2 is offline Newbie Net Builder
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    so I guess there is not a chance for e-gold members to ever withdraw their funds then...

  8. #17
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    Quote Originally Posted by bluemouse2 View Post
    so I guess there is not a chance for e-gold members to ever withdraw their funds then...
    E-Gold's list of exchange service providers is 404.

    It looks like the "Justice Department" screwed a lot of people.
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  9. #18
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    E-Currency is one of the best ways to do it, but at high risk. You need to know who is a trusted exchanger and who's a scammer. I have been exchanging my Alertpay balance to LibertyReserve balance to some trusted exchangers in a Philippine money forum I truly checked, and seems to be no problem at all. I deal with the Filipino exchangers and they are truly honest.
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