Part Two: E-gold® And Right Turn on Red

I left these questions open to discussion.

How was it possible, after a decade of Internet changes, terrorist attacks on the US, the new Patriot Act regulations and a massive e-gold indictment....how was it possible that this kind of criminal activity was still taking place using the e-gold system? This is a huge question. As an American you might also be asking these questions:

1. Why are the e-gold operators still allowing this to take place? Isn't it their responsibility to dictate to all users how their digital units can be used? Why don't they prevent it?


2. Why hasn't someone from the government stopped this crime, surely there are laws to prevent this kind of activity?"


3. Why wouldn't the owners of the company move to add customer identification and try to prevent stolen cards being sold with e-gold? I'll bet this type of crime does not happen to MSBs like Western Union agents.
   

If you are reading this, you have to admit, these seem like very valid questions. Questions such as these are posed to me every week.

Even if you take a close look at the other DGC industry leaders the companies have customer verification policies and AML polices in place: Crowne Gold--Strong KYC & AML policy one of the best I've seen, GoldMoney very solid CAP policy compliant with one of the world's largest banking jurisdictions and their policies are a model for the industry, e-Dinar has a very strict KYC customer verification and AML policy compliant with Dubai where they are located, PhoenixDollar has a strict US KYC policy I know and they operate as a MSB. All of these online companies offer very legal businesses and they are all doing their best to combat any misuse of their systems. Perhaps the Washington Post should report that fact.

It is still a very valid question, how is it possible that the e-gold business model did not change over the past decade and does not require any type of this customer verification...after all they have been through? That is the question of the year.

Please, slow it down a notch and take a much closer look at the type of operation that www.e-gold.com operates and we can also compare it to the above industry competition.