A report alleging that gangs buy fake streams arrives at a time when executives are calling for better monitoring of the streaming ecosystem.
“Once someone like Lucian Grainge makes a statement about it, it’s necessarily going to get more prominence,” says one streaming service executive who agreed to speak about manipulation on the condition of anonymity. “That’s not to say we weren’t dealing with it behind the scenes before Lucian was making statements.
Streamers try to work backwards from anomalies in the data, trawling for “potential bad actor networks,” as Pelczynski puts it, and trying to prevent them from “migrat[ing] from platform to platform.”took a different approach, speaking to several criminals who claimed to have direct knowledge of the laundering scheme.
The paper reported that Swedish gangs take criminal profits, convert them into cryptocurrency, use that to buy fake streams for artists they’re connected to, and then collect the royalties. They lose some money in the process by paying for fake streams, but the royalties they extract from the music industry are now “clean” — they can’t lead back to anything gang-related.
“There is always a cost in money laundering,” Trusty explains. But even if it’s a really high transaction cost, it still puts you in a position where you have untraceable, usable profit. And so the key for any real money laundering operation is volume. The article seems to be pointing out that this is something that’s kind of an institutional mechanism for these gangs.” ‘s reporting.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Millions of LINK Acquired by Whales Since Chainlink Successful Swift TestAside from accumulating, Chainlink's shark wallets also saw an increase
Leer más »
Chainlink price in slump, whales buy the dip with $24 million in LINK tokensChainlink price is in a downward trend that started in July. While the successful completion of interbank messaging giant Swift’s experimentation with
Leer más »
'This is it folks': Oakland's Rooz Cafe shutting down after 22 years due to crimeSaturday morning was Rooz Cafe's final hours of business. The owner said he is closing for good because of crime in Oakland and that the 'nonsense and no accountability from city officials' has made it time to call it quits.
Leer más »
Prince Albert crime: Woman facing charges after pedestrian killedOfficers were called around 12:50 a.m. on Saturday to the 800 block of 13th Street West where they found a 26\u002Dyear\u002Dold man hit by a vehicle.
Leer más »
Two Assailants Sought in UCLA Hate-Crime AttackTwo men shouted anti-gay slurs and used a knife to threaten a UCLA student early Friday at the Westwood campus.
Leer más »
Chicago crime: Mail carrier robbed at gunpoint in Chatham, officials sayA USPS mail carrier was robbed on Chicago's South Side on Saturday evening, officials said.
Leer más »