Just read DEA's thread about epass from 3 years ago..
 

and came across a couple replies from back then:
http://www.gfy.com/it/775841-epassporte-fucked-4-500-programs-webmasters-beware.html

and this didn't turn out as expected:

Two great posts.

For Americans I agree 100%. For a lot of foreigners in the lower income bracket it was convenient enough to ignore all the reasons not to use it.

I agree, i've found out from talking to foreigners that they get charged to deposit checks at their banks, it takes longer to send them etc... So i get that. But I don't understand the people who was just letting the money sit in there for no reason.

IMO either laziness or stupidity

not only do they get charged to deposit a check, some countries the wait for the funds to be available is up to 45 days.

yep tell me about it Im still waiting on a check to be cleared which was fine until a couple of weeks ago then the bank decided that they had to verify the check for some reason and send it back to the US Its still not cleared and I have reguarly payed the same check in for about a year now, now I get all this bullshit from the stupid bank

I think a lot of people used these offshore cards and banks with the purpose of tax evasion, hence why they kept large balances in there. Personally, I will never use anything that is not FDIC/CDIC insured.
WG

:thumbsup:thumbsup

I think it's for exactly what WiredGuy said. They are avoiding taxes by keeping it in there.

I wouldn't keep $250k in ePass for any reason except that, especially in another country. It's not hard to go to the ATM and withdrawl the cash in your local currency and just deposit that into the bank.

I agree 100% I was referring to people that werent using it for illegal purposes

bump 4 DEA

I doubt more than a handful of people have hundreds of thousands in epass. Vast majority will have balances of between $xxxx and $xxxxx. Hardly Tax Evasion sums.

large amounts can be withdrawn via the card over time.

what happened to Chios system ?

It went to shitter.

hmm, he was really optimitic back then,always thought it got bought by a mainstream corp

Back in the day foreign studios that used iFriends had to wait approximately 4 weeks for the check to arrive by mail (if sent by FedEx 1 week or more) and then approximately 6 weeks for their bank to credit them the money for the check they deposited. On top of that the bank charges extra fees for this service.

So, why not wire transfers? Well, let's say you are Ukraine where video chat is very illegal. The police see incoming wires to your bank account from strange foreign companies. A few seconds on Google and they see it's related to video chat. Then one of 2 things happen. 1) The police come to you demanding a substantial percentage of your gross income off the top. Often upwards of 30%. or 2) You get raided by the police, all your models get arrested, you get arrested and they take all your money.

Another example: Let's say you are an individual model from Eastern Europe working for yourself at home when you have free time from your normal job. If even you make enough in a pay period to meet the minimum requirement for a wire you will eventually need to register as self employed with the local tax office and deal with their arcane system. A system that often requires a job code (obviously "video chat" is not available) and a signed and sealed (company seal) statement for every payment from whoever is paying you (good luck). Then you need to give the government ~50% of what you make. Obviously tax laws vary from country to country, but that is roughly how it works in most countries I am familiar with.

Let's say you are a big studio in Russia with hundreds of models working for you in several cities. You receive wires to a bank account in BVI, some island or possibly Cyprus. Your foreign corporation has an ePassporte business account and you issue ePassporte cards to all your models. They are paid directly to their cards and not ever in cash. You pay yourself a salary from this foreign company and pay all your taxes. ePassporte goes under and you are fucked. Suddenly you have to pay cash (often models do not even have bank accounts) to hundreds of models in several cities. Good luck trusting your local managers with large sums of money and even then how do you send it to them? How do you even get the cash in the country?

These are real examples of problems that people I know are either dealing with or have dealt with.

I agree epass made things easier for some people, but if porn / cam studios are illegal in those countries shouldn't they have just not operated one?

Seems more and more epass works great for people looking to circumvent the law, like in your example or people trying to avoid taxes. SO... in those cases the person is taking a risk using them vs a real bank, but its a gamble for them because they are doing something illegal to start with. So i'll alter my statements, if you aren't looking to do something illegal, then you would be crazy to not get a wire transfer or check for large sums of money, vs using a 3rd party to have their hands on it.

I dont think it ever made it out the shitter, don't think he launched as planned and then he disappeared.

please no reason and trying to explain anything to idiots who have zero ability to conceptualize anything outside of their tiny narrow reality.

...tell that to the IRS

i thought you are a live cam expert - do you know how much less money you would make without the hundreds and thousands of live cam girls and studios from eastern europe? or how much money you personally made so far by promoting them?

go check out twitter. cam girls are getting fucked hard by epass right now. of course that shouldn't have to be explained to a cam expert.

Fuck Epass





see sig---v