Do you think the EU is immune to money laundering? Because that’s what KYC laws are meant to prevent. The EU absolutely has KYC laws to prevent money laundering.
Step 1: Make a small, basic app. Include lots of in-app purchases for no reason.
Step 2: Use dirty money to buy those in-app purchases.
Step 3: Receive washed money from the App Store, minus the ~20% commission that the store takes.
Step 4: That’s it. You’re done. You’ve successfully laundered money in the App Store.
Do you think the EU is immune to money laundering? Because that’s what KYC laws are meant to prevent. The EU absolutely has KYC laws to prevent money laundering.
but this is an app store, and their own policy, not a bank or other financial institution
Step 1: Make a small, basic app. Include lots of in-app purchases for no reason.
Step 2: Use dirty money to buy those in-app purchases.
Step 3: Receive washed money from the App Store, minus the ~20% commission that the store takes.
Step 4: That’s it. You’re done. You’ve successfully laundered money in the App Store.