Financial Times: Wise rebuked by European watchdog over money laundering controls
- Thread starter linusAG
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They need to know that closing innocent accounts is not the right way to control money launderers
Closing innocent people accounts will lead them to be close to the money launderers as they use them to clean their money
Closing innocent people accounts will lead them to be close to the money launderers as they use them to clean their money
Could some enlightened individual (there are very many intelligent well read members here), tell me what's the meaning of 'Money Laundering' ....
The idea that keeping YOUR hard earnt money away from thieving Governments and their political agents, (the majority of which are the real corrupt money launderers) is an illegal action is ridiculous.
It is our absolute obligation to keep OUR finances/savings/monies away from these wasteful, inept and corrupt criminals!
The idea that keeping YOUR hard earnt money away from thieving Governments and their political agents, (the majority of which are the real corrupt money launderers) is an illegal action is ridiculous.
It is our absolute obligation to keep OUR finances/savings/monies away from these wasteful, inept and corrupt criminals!
In short, you steal money from a bank. Laundering is then the process of concealing its dirty origins. That was the original meaning. It has since been applied to pretty much anything somebody dooes not want for personal reasons.
It seems to me that in today's 'upgraded version' pushed by Central Banks, Governments, (corrupt western) Politicians etc it means if you try to move even $US50,000 from 'here to there' you must justify 'how/where' you got it, and why you are moving it? .................................... which is of course entirely your own business as a private individual. Furthermore, if in your line of work/business US$50,000 is not an untoward amount then the Financial Houses and their︀ regulatory overlords should not have the right to question everything and anything ................................ IMHO
In general you are right. But then, there are︀ some other factors you need to consider which in part explains the actions.
@JohnLocke did not like him. Why should any bank want to deal with somebody like this? How would you as a bank act in order to get off @edwardjennner from your institute when the first 10k arrive?
- Banks are︁ responsible to a big part for fraud related transactions. Rather than sending the 50k from︂ your account to anywhere, they will ask you for the reason and warn you from︃ fraud.
- Banks are responsible to a large part for money laundering they assist. You can︄ check Wegelin, UBS, etc. they got big fines from the US. Forced by the governments,︅ they are now doing their job of checking more carefully and thus will ask you︆ for a proof. Most good banks are smart enough to see from a conversation and︇ some documents how related your money to robberies, drug trafficking, etc. is.
@JohnLocke did not like him. Why should any bank want to deal with somebody like this? How would you as a bank act in order to get off @edwardjennner from your institute when the first 10k arrive?
With regards to the secondary thread - I have actually just︍ passed 30 years in UAE and know what goes on here.
The Govt of Dubai︎ doesn't care, but the sovereign Govt controlled by AD does (they want to show the️ world that they are a responsible mature law abiding country). Dubai have their own ways, but must be careful as they do NOT wish their banks to be disconnected from the World Finance system (controlled by the flat disc wearers hence why they don't act more forcefully against the genocidal terrorist further up the Gulf), so its done a lot more quietly. And they also pay 'lip service' to the AML/KYC rules just to show the world regulators they are being compliant.
The Govt of Dubai︎ doesn't care, but the sovereign Govt controlled by AD does (they want to show the️ world that they are a responsible mature law abiding country). Dubai have their own ways, but must be careful as they do NOT wish their banks to be disconnected from the World Finance system (controlled by the flat disc wearers hence why they don't act more forcefully against the genocidal terrorist further up the Gulf), so its done a lot more quietly. And they also pay 'lip service' to the AML/KYC rules just to show the world regulators they are being compliant.
Yes, I would do the same.︂ You easily become the enemy of the US and UAE with its emirates has quite︃ a few on the verge of becoming the bad guys.
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