Steven81Crypto God | BTC: 53 QC | CC: 34 QC | ETH: 22 QC8 months ago
Good. Money laundering is not a crime. The crimes committed are.
All you folk calling for money laundering laws, or calling criminal certain movement of money (over others) you are basically calling for world surveillance of money and money transfers. The very thing that crypto wants to get out from (in part), I.e. the loss of privacy.
Instead of calling out the movement of money (basically) maybe we should call out the crimes themselves, or the fact that not enough is made to stop the issue at its source.
Money laundering laws can and offer used to bust useful people. They are used to surveil people.
Whatever "evil" they stop, they create a much bigger one. It is not worth it ... and in the end the bad guys launder their money anyway.
We need police to do police's work. Not banks, nor payment processors. I had enough false flag shut down on my PayPal over the years to know that those laws produce so many more false flags to worth it. It allows for police to be complacent too knowing that the issue is out of their hands by some time on..
A friend of mine was there today.
According to him that happened more often as you would expect. German authorities do not fuck around when it comes to ML. In the past they even stopped the guy who was head of AML on the highway and detained him over christmas, bc of charges. And raided offices in Frankfurt and Berlin.
Frankly speaking, I honestly believe that it is exceedingly difficult to do any shady business in Cyprus through the local banks since at least 2005, more so after 2013, because the compliance requirements are ridiculous. But I can see how the past history prompts conclusions similar to the one you just made.
Didn't they reimburse those dispossessed investors and gave those with a dispossession above 1Mio. a citizenship as compensation?
As far as I remember they switched the shadiness from pure investment bucket towards the non-dom business.
I mean, this kind of state regulated fiddling is far away from what a private company does...
No, I believe the citizenship started at a much higher figure, around 3M at the time. There was no compensation to the local investors whatsoever, they ended up with some worthless shares of the wound up bank.
Not sure what kind of state-regulated fiddling you are referring to. The banks in Cyprus aren't state-owned.
I didn't mean the local investors. They are always screwed.
I heard that there were compensation for foreign investors though.
No sources though, just floor talk from people who are usually into this kind of business.
The fiddling I was referring to was the governments allowances for investors to save some taxes for example. I wasn't talking about the bank itself as I stated above: that's the difference here between a private bank and the state itself. While you want to get your money out of Germany to keep most of it, you might want to drop it into Cyprus for the same reasons and to cheat your home country.
I wonder how you technically "raid" a "Deutsche Bank"? So 170 police men did that in the main and several other buildings? Do they politely ask for the floor and room number of Mr. Müller to then carry out laptops, papers, pendrives from Mr. Müller's office? Do they come with a trailer full of harddrives and ask for the last server backups? What is the protocol in such an investigation?
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Share prices now at under 10% of their 2007 peak, at their lowest I can find records for (goes back to 1996 so far).
Deutsche shares are apparently working on the same pricing model as Fallout 76.
Incidentally, while reading up on the bank's history, I learned that this isn't the most unethical thing it has done by a long shot. DB loaned the money for the construction of the Auschwitz concentration camp.