Whoa there! MS is no scam. Unlike bank management gaming LIBOR rates, it is perfectly legal for bank customers to legally deposit money orders bought legally using credit cards obtained legally. If fact, it is downright patriotic for customers to bring in buckets of money orders considering the banks were begging for money and demanding taxpayer bailouts just a few years back.
Would you rather the banks were just financed by money from all the bribes and kickbacks paid to government officials? And we haven't even brought up the money that flooded in to the "dead broke" Clintons from the Whitewater scamdal.
Originally Posted by
st.exupery
If one day the entire MS scam becomes front page news (which it probably will), would banks be investigated for all the MO deposits? How about the depositors that churn hundreds of thousands of dollars in MOs? If the scam blows up, the money trail will be very easy to unravel. I'm not sure there's personal risk, though some tactics suggested here (e.g. fictional identities) might be illegal.