E-Gold: The Currency of Choice for Cybercrooks

[mandy]

Online payment systems like e-gold Ltd. are becoming the currency of choice for cybercrooks

Crime courses through the internet in ever-expanding variety. Hackers brazenly hawk stolen bank and credit-card information. Pornographers peddle pictures of little boys and girls. Money launderers make illicit cash disappear in a maze of online accounts. Diverse as they are, many of these cybercriminals have something important in common: e-gold Ltd.

E-gold is a "digital currency." Opening an account at www.e-gold.com takes only a few clicks of a mouse. Customers can use a false name if they like because no one checks...

Law enforcement officials worry that the little-known digital currency industry is becoming the money laundering machine of choice for cybercriminals... On the evening of Dec. 19, agents with the Federal Bureau of Investigation and Secret Service raided the Melbourne (Fla.) office of e-gold's parent company...

full article: http://www.businessweek.com/magazine/con...d=rss_tech

[bargainbloodhound]

e-Gold (along with StormPay) is something that will make me not buy from a site if it is the only type of payment the site accepts.  e-Gold (and StormPay) have had bad reputations for years because of the type of sites they allow.