Como Bitcoin Traders de Hong Kong se defendem de esquemas

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MATÉRIA:

"Like other currencies and commodities, bitcoin are commonly traded on exchanges and over the counter (OTC). The latter is especially common in places where exchanges cannot operate or for trades upwards of US$50,000, so-called “blocktrades.” In Hong Kong, the OTC market is particularly popular. As a jurisdiction without capital controls, easy taxation rules and a wide availability of foreign currency accounts, Bitcoin users from all around the world come to Hong Kong to conduct trades.

The barrier to become an OTC trader is relatively low, as the only requirement is capital. Depending on the size of the operation, OTC traders use platforms like Coincola or Localbitcoins, their own website, a physical store, or simply a Telegram handle and email address to operate their business. Some accept both cash and wire transfers, while other specialize in one or the other, or accept alternative forms of payment like Western Union.

Legal risk

OTC traders take on a wide variety of risks. At first, there is the legal risk of unwittingly being lured into a money laundering operation. Even though the exchange of bitcoin is unregulated in many places, including Hong Kong, existing regulation mandates traders to perform due diligence on their counterparties.


“You should guard against the ML/TF risks [...] by increased vigilance in assessing the ML/TF risks of customers as well as monitoring and detecting unusual or suspicious transactions,” a circular from the Hong Kong Customs and Excise Department reads.

Scams and Schemes

But even diligently following know your client (KYC) and anti-money laundering procedures doesn’t necessarily protect traders from the wide variety of scams and schemes that target them daily.

Most commonly, phishing emails attempt to obtain traders’ email and cloud storage credentials. Using the information found in somebody’s inbox can allow a fraudster to contact previous business partners and redirect funds into the fraudster’s wallet, for example by posing as a trusted buyer and asking for a Bitcoin transfer upfront.

If the attacker is able to passively read incoming email for a long time, they may also be able to inject themselves into a conversation at the right moment and redirect funds to their own pockets by changing the account information."


CONTINUE LENDO EM: https://www.forbes.com/sites/leonhardwe ... 61db7a148b