After 30 months investigation prosecutors charged online payment service E-Gold of violating the U.S. laws prohibiting funds transfers and money laundering.

E-Gold is charged of having knowingly allowed criminals to use the payment service to conducat criminal activities. E-Gold service doesn't not require its users to confirm identity and thus this system has become the most popular payment method amongst cybercriminals and scammers.

This has been an international system working unregulated and unsupervised which allowed money transfers that are not controlled by any independent entity.

In March 2006 E-Gold joined with the National Center for Missing and Exploited Children to reduce the use of their services by child pornographers.

Last month, a security professional investigated an online server used to store stolen digital identities and found that it also acted as an e-commerce service, selling the data for funds transferred to WebMoney. Other services occasionally used include Fethard and Western Union.

According to SecurityFocus E-Gold has made no significant effort to prevent the criminal use of its services. E-Gold and has allowed customers to continue using the service, even after other victims and companies flagged the activity as unlawful.

E-Gold has become possibly the most popular way for online scammers and fraudsters to launder money. criticizing federal prosecutors for alleging that the company aided child pornographers.

Source: www.best-spyware-removal.com