I know that’s kind of a clickbait headline but it’s from a quote by Mastercard CEO Ajay Banga, who dropped out of Facebook’s Libra organization after “multiple red flags.” Emphasis mine:
One reason was Libra’s leaders wouldn’t commit to abiding by laws around knowing their clients, money laundering, and data management, he told the newspaper.
“Every time you talked to the main proponents of Libra, I said ‘Would you put that in writing?’ They wouldn’t.”
It was also unclear to Banga how Libra would generate revenue, stoking his fears that it would make money in unscrupulous ways. “When you don’t understand how money gets made, it gets made in ways you don’t like,”
Facebook profiting off of money laundering?