Career Choice Tip: Cybercrime Is Mostly Boring • Hacker News Board

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#81

Post by RandomBacon » Sat, May 30, 2020, 12:14 PM UTC

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

If your bank questions you for withdrawing $10,000 or more, I would use a different bank.

I withdrew about $13,000 a few months ago, and my (national) credit union didn't hesitate or ask me anything (except for an additional piece of identification).

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#82

Post by RandomBacon » Sat, May 30, 2020, 12:15 PM UTC

ikeyany wrote: post #66

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

Buy and sell art/jewelry to a third party who really, really likes your taste in art/jewelry.

Tape a banana to a wall and call it art.

https://en.wikipedia.org/wiki/Comedian_(artwork)

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#83

Post by kuroguro » Sat, May 30, 2020, 12:25 PM UTC

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

Not only that, even if you manage to get decent profits uncaught, you'd still have to launder it to buy any large purchases like cars / houses etc without raising suspicion from the tax authorities.

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#84

Post by Wowfunhappy » Sat, May 30, 2020, 12:42 PM UTC

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

Doesn’t this apply to almost all types of crime? Dealing drugs, burglary, etc.

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#85

Post by papercrane » Sat, May 30, 2020, 1:09 PM UTC

RandomBacon wrote: post #81

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

If your bank questions you for withdrawing $10,000 or more, I would use a different bank. I withdrew about $13,000 a few months ago, and my (national) credit union didn't hesitate or ask me anything (except for an additional piece of identification).

In the US any cash withdrawal that large triggers a legal requirement for the bank to file a transaction report with the government. If the teller didn't ask you anything and you don't regularly make withdrawals like that then somebody messed up.

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#86

Post by diablo1 » Sat, May 30, 2020, 1:16 PM UTC

Like anything, it's usually the payoff that is exciting and glamorous. I know the old hacker mantra: 'boredom and drudgery are evil' hence why we automate everything, but I don't think the mantra holds true for most hackers. The best hackers know that programming essentially works against you when you do it, because there's no instant gratification. You have to constantly bang your head against the wall (even because of simple syntax mistakes that make you feel like a n00b all over again).

The payoff is always fantastic though. Whitehat or blackhat, knowing that all that hard work and grunt pays off is a wonderful feeling. I tend to veer towards whitehat stuff though because of the old saying: 'If you can't do the time, don't do the crime'.

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#87

Post by [deleted] » Sat, May 30, 2020, 1:39 PM UTC

Wowfunhappy wrote: post #84

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

Doesn’t this apply to almost all types of crime? Dealing drugs, burglary, etc.

[deleted]

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#88

Post by RandomBacon » Sat, May 30, 2020, 2:23 PM UTC

papercrane wrote: post #85

RandomBacon wrote: post #81

Earlier quoted context omitted.

If your bank questions you for withdrawing $10,000 or more, I would use a different bank. I withdrew about $13,000 a few months ago, and my (national) credit union didn't hesitate or ask me anything (except for an additional piece of identification).

In the US any cash withdrawal that large triggers a legal requirement for the bank to file a transaction report with the government. If the teller didn't ask you anything and you don't regularly make withdrawals like that then somebody messed up.

As far as I can tell, they are only required by law to ask for identification; no requirement about asking why. The report they make goes to the IRS where the IRS might ask a question.

https://finance.zacks.com/federal-banking-rules-withdrawing-...

The teller asked for identification which exactly what the law requires, so it doesn't sound like they screwed up.

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#89

Post by bluedino » Sat, May 30, 2020, 2:58 PM UTC

RandomBacon wrote: post #81

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

If your bank questions you for withdrawing $10,000 or more, I would use a different bank. I withdrew about $13,000 a few months ago, and my (national) credit union didn't hesitate or ask me anything (except for an additional piece of identification).

Do it again. They will flag your account and you will be filling out paperwork if you regularly make large cash transactions. Federal law.

Re: Career Choice Tip: Cybercrime Is Mostly Boring

#90

Post by raincom » Sat, May 30, 2020, 3:05 PM UTC

RandomBacon wrote: post #81

trade_unionist wrote: post #25

The main problem with cyber crime for profit is you have to get the money at some point. So no matter what at some point you have to either trust someone (bad idea) or have the cahones to walk into a bank and withdraw the cash. Even then you to explain how you got the money if it's over like $10,000 or people start asking questions. Yeah dumb people will focus on hacking but once you think it through you see there is…

If your bank questions you for withdrawing $10,000 or more, I would use a different bank. I withdrew about $13,000 a few months ago, and my (national) credit union didn't hesitate or ask me anything (except for an additional piece of identification).

Yes, they don't ask you any thing. However, banks/car dealerships/etc have to file CTRs(Currency Transaction reports). It is good that you withdrew $13K in one shot. Structured withdrawals (4k, one day, 5k three days later, another 4k ten days later) will be flagged by AML software of any financial institution. And folks in the compliance team will file SAR(Suspicious activity report).

Lesson: when you legitimately need $30K cash, just withdraw it in one transaction. Never ever withdraw $5K every week for six weeks. For every SAR, there are 100 CTRs filed.