March 18 2018
Online service marketplaces are relatively new, and there are few ways for their operators to regularly monitor the entirety of services and transactions. Unfortunately, this creates an open environment for electronic money laundering, known as ‘transaction laundering,’ to occur
Once the Airbnb booking transaction is processed, no one actually stays at the swanky (or not so swanky), advertised accommodation. Instead, the two parties split the payment and create fake end-of-stay reviews to close the transaction loop.