Silk Road forums
Discussion => Security => Topic started by: dubious on February 08, 2012, 11:57 pm
-
I was just wondering if I was creating an extra security risk by providing correct information to the financial institutions I'm using to buy bitcoins (liberty reserve, trade hill, and swiftexchanger.com). Should I change my information to show a fake name and/or fake address on these websites? Is this unnecessary or could it create any negative consequences, such as if the websites found out I gave them fake information?
-
I was just wondering if I was creating an extra security risk by providing correct information to the financial institutions I'm using to buy bitcoins (liberty reserve, trade hill, and swiftexchanger.com)....
Bitcoins are traceable via the blockchain by design. Unless you're somehow breaking the link back to your identity -- tumbling via online wallet or mix service -- *before* transferring to SR, then yes.
...Should I change my information to show a fake name and/or fake address on these websites? Is this unnecessary or could it create any negative consequences, such as if the websites found out I gave them fake information?
If the potential of a wire fraud or money laundering indictment strikes you as a "negative consequence", then best not to lie to your financial institution(s). Most mainstream commercial entities will cooperate with LE in a heartbeat; they don't want to lose their income stream by getting shut down for obstruction of justice.
-
Yea, tumbling is usually the best bet. SR already incorporates a few features in order to anonymize your transactions there, but they can only do so much.
-
AML info requests are a nightmare scenario if you're laundering lots of BTC, just walk away.