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Turo is a haven for money laundering. In my area you can "find" multiple Chrysler 300Cs for rent for $600/day. I say "find" because many of them are unavailable for days or even weeks on end as being rented. Good scam if you're, say, a dealer. Have one of your customers "rent" your car through Turo at an inflated rate. Bonus: you don't even have to let them have your car. They're just paying you and saying they rente…
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But Bob will have to deposit this dirty cash at some point. With enough cash, it’ll raise alarm bells unless Beth has A LOT of friends who can deposit $600 each.
Bob has a business with lots of cash coming in and can fold Beth's cash in without it being too obvious. Or Bob knows people who know what to do with suitcases full of $500 Euro notes without alerting legal issues. Presumably Beth pays Bob for this service. Then Bob may have to pay his friends. This can be done with varying degrees of sophistication.
Turo is a haven for money laundering. In my area you can "find" multiple Chrysler 300Cs for rent for $600/day. I say "find" because many of them are unavailable for days or even weeks on end as being rented. Good scam if you're, say, a dealer. Have one of your customers "rent" your car through Turo at an inflated rate. Bonus: you don't even have to let them have your car. They're just paying you and saying they rente…
The idea of money laundering is to turn cash into legal income. There’s other kinds of money laundering too including cross-border type transactions like you might see with art or collectibles but it’s hard to see how this makes much sense via Turo.
If the buyer has the ability to use a credit card to spend the money without attracting attention why not just buy something they want instead?
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> Maybe I just haven't had enough coffee this morning, but I don't understand the scenario you're describing. Could you elaborate? Beth has dirty money. Bob, a friend of Beth’s, “rents” her car. (There is no car. Maybe Bob pays Beth over Turo and then Beth gives Bob the dirty cash.) Beth now has the appearance of legitimate income.
Bob has the same problem as Beth in showing the sources of his funds as being legitimate to justify his lavish spending on car rentals.
It still seems risky for those involved because there is a paper trail linking the buyer and seller in the case the buyer gets busted.
Other fees at checkout aside, regarding requiring a driving license no: Surely they require your license number so that they can check if you have any violations/tickets/etc? Wouldn’t you get a cheaper rental with a clean license? Makes sense to me, I must be missing something.
I’m a repeat customer let me turn on “true price” option somewhere because it makes me want to use your products LESS.
Jfc product manager of growth how do you live with yourself.
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My trick with their system is to just look at every car, click through to the final receipt screen and then go back to find the cheapest one. It's a bit tedious and deceptive to the customer to present variable fee at the last part of the checkout process. Probably the worst modern "dark pattern" that I hope regulators take a look at.
The same happens with hotels and "resort fees", especially in places like Las Vegas.
In reality they settled the suit and then told the Pennsylvania AG to eat shit, they still hide the fees but now there is at least a checkbox to show the fees included.
One of the funnier things about scammy pricing schemes and American misunderstanding of laws. Ask anyone in the country if they are aware of “false advertising” and they’ll probably tell you it’s a pretty serious crime when in reality companies are pretty much only encumbered by civil law and even then they can avoid responsibility by playing a shell game, a la Johnson & Johnson’s sham bankruptcy, while criminal statutes are pretty much just for poor people.
Airbnb, DoorDash, Turo and others need to stop with the outright price lying. I’m a repeat customer let me turn on “true price” option somewhere because it makes me want to use your products LESS. Jfc product manager of growth how do you live with yourself.
[1] https://www.ctvnews.ca/business/airbnb-settles-6-million-cla...
[2] https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/0...