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I know that we could not list tens and tens of countries, so let's consider the most likely to be conducting some form of bogus biz
basically, you cannot reliably bind IP to location. No way.
A little explanation: there are proxies to hide behind to pretend to be from US, and there probably legitimate US customers who look like they are not from US (say, their company is using an AT&T gateway in UK).
And so on, and so forth...
[edited by: Morgenhund at 11:41 am (utc) on Mar. 11, 2008]