Fergie's Tech Blog

E-Gold Getting Tough on Crime

Kim Zetter writes on Wired News:

The founder of PayPal competitor e-gold has grown tired of the government characterizing his business as a haven for money launderers, terrorists, child pornographers and credit card thieves.

So a year after the Department of Justice raided his offices, Douglas Jackson, president of Gold and Silver Reserve, which operates e-gold, has been wading deep into his customer transaction logs to identify and fight back against people who misuse his system. In the last month, he's blocked about 2,000 accounts from his system, and he's voluntarily turned over detailed account and transaction histories to federal law enforcement.

In the process, Jackson says he's exposed an illicit and previously invisible economic underground.

posted by Fergie @ 12/11/2006 09:57:00 AM