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by sukuriant 5371 days ago
I became concerned with reading this statement. We need a lawyer to understand liability for laundering with regard to systems like Stripe
1 comments

If you're laundering money, you might want to consider in-house legal expertise, as well as in-house payments processing expertise.

If you're not laundering money, then (all other things being the same), you should prefer Stripe over PayPal, since it would be quite hard for someone to use Stripe for this purpose, hence they will have fewer money-launderers to deal with, hence you have less risk that you'll set off some obscure alarm and they'll lock up your account for months.

In any case, if you sell anything (online or off) you may want to learn a bit about the various risks and liabilities. Fraud does happen, and some businesses are at far higher risk.

I'm not sure the average lawyer will help much, though. They can tell you "yup, if someone buys a diamond from you with a stolen credit card and you ship it, you will not get to keep that money even if the diamond isn't recovered" (but don't you know that already?).

The more important advice is technical, and it's about all of the things you can do to reduce the risk of that ever happening to you.