Comment on My credit union no longer allows me to payoff pending purchases made on my credit card

greyhathero@lemmy.world ⁨1⁩ ⁨month⁩ ago

• PorradaVFR@lemmy.world ⁨1⁩ ⁨month⁩ ago

  How does over paying enable laundering? I don’t follow.

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  • ccunning@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Yes. Exact same question.

    I do not have a criminal mind…

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    • greyhathero@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Not going to teach people how to launder money, but one of the avenues that can be used to get a respectable transaction is to overpay from a dirty bank account to a credit card, and then the financial institution will credit into the users clean bank account which will raise less flags then a direct transfer. This is just one step in a process, and not even sure it works anymore. But many banks would rather just not deal with it.

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• foggy@lemmy.world ⁨1⁩ ⁨month⁩ ago

  This guy banks.

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• Bronzebeard@lemmy.zip ⁨1⁩ ⁨month⁩ ago

  Explain? All money involved is already in a bank.

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