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5Dimes Allegedly Laundered $2M via Amazon Gift Cards to Bypass US Financial System
- March 16, 2016 By Oliver Young -
According to media reports, 5Dimes, an online gambling operator based in Costa Rica, was accused by the US Homeland Security of advising gamblers to use Amazon gift cards in order to fund their gaming accounts. In the process to bypass the financial system in the US, the operator allegedly laundered approximately $2 million through these cards.
The report on Re/Code is based on a seizure warrant filled with the US District Court in Philadelphia. Namely, 15 Amazon accounts were seized by the Department of Homeland Security as the investigators claim that they are associated with 5Dimes.
Furthermore, the report reads that the operator has been giving instructions to US bettors to use Amazon gift cards as a payment option to fund their sport betting accounts with 5Dimes in order to circumvent the financial system. In addition, the operator also used these cards to pay out winning to American players or winning customers would pick merchandise from Amazon and 5Dimes would cover for it.
The warrant reads that the 15 seized Amazon accounts currently have a combined value of $159,000, but allegedly about $2 million has passed through them in the past several years. The report says that Amazon closed one of the accounts listed under the username GC Lover.
It appears that the use of Amazon gift cards at 5Dimes is no secret. Several online betting forums refer to the cards as one of the best financial methods for US online gamblers. Those who wanted to use the cards were advised to buy them in cash and then send photos of the information on the card to 5Dimes. Bettors who wanted to get their winnings in gift card were also offered 10% bonuses.
5Dimes under another Investigation
News media in Costa Rica also report that the operator is under investigation for money laundering associated with the manager of the company and money transferred from companies in Mata and Dubai. The US feds are also reportedly taking a closer look at the use of Western Union outlets in Costa Rica to circumvent the US financial system.
The situation with 5Dimes serves as a good example of how and what online sports betting operators and their customers from the US must engage in to enjoy this form of entertainment which is perfectly legal in US states such as Nevada. Perhaps it’s high time for the government to seriously consider putting an end to all of this.