Do you think the EU is immune to money laundering? Because that’s what KYC laws are meant to prevent. The EU absolutely has KYC laws to prevent money laundering.
Step 1: Make a small, basic app. Include lots of in-app purchases for no reason.
Step 2: Use dirty money to buy those in-app purchases.
Step 3: Receive washed money from the App Store, minus the ~20% commission that the store takes.
Step 4: That’s it. You’re done. You’ve successfully laundered money in the App Store.
this fails at step 2. you can’t pay from your google account. you need google to send that money to your bank or paypal account. and at that point, you already have KYC.
even in the EU? that’s a bit hard to believe
Do you think the EU is immune to money laundering? Because that’s what KYC laws are meant to prevent. The EU absolutely has KYC laws to prevent money laundering.
but this is an app store, and their own policy, not a bank or other financial institution
Step 1: Make a small, basic app. Include lots of in-app purchases for no reason.
Step 2: Use dirty money to buy those in-app purchases.
Step 3: Receive washed money from the App Store, minus the ~20% commission that the store takes.
Step 4: That’s it. You’re done. You’ve successfully laundered money in the App Store.
this fails at step 2. you can’t pay from your google account. you need google to send that money to your bank or paypal account. and at that point, you already have KYC.