Jump to content
House Price Crash Forum
Sign in to follow this  
rollover

Ep To Debate And Vote On Anti-Money Laundering Rules In The Eu

Recommended Posts

Money laundering accounted for 2.7% of the world's GDP (an astonishing $1.6 trillion) in 2009, according to the UN. New technologies have made it even easier for criminals such as drug dealers, financial schemers and counterfeiters to launder their dirty money. MEPs will debate and vote on tougher rules to tackle money laundering, requiring companies to provide more accurate information about real owners, on 11 March. Follow it live on our website.

If it is such a big problem, why does it take so long to fix it?

Share this post


Link to post
Share on other sites

A debate on this subject is meaningless unless it recommends very strongly that banking executives from mob outfits like HSBC, Wells Fargo et al are personally prosecuted through the criminal courts.

If I want to open an account with a bank or a post office or even a credit union, I have to provide shedloads of identity and jump through hoops. Yet these bankster scum can launder away the entire GDP of a small nation and walk away scot-free.

Share this post


Link to post
Share on other sites

$1.6tr - remember that figure any time they try to imply that cryptocurrencies are a money laundering problem; the entire cryptocurrency market cap is under $10bn.

Share this post


Link to post
Share on other sites

I don't really understand money laundering. If I own $1m why is it wrong for me to pay it into my Brazilian bank account? It's my money!

Share this post


Link to post
Share on other sites

I don't really understand money laundering. If I own $1m why is it wrong for me to pay it into my Brazilian bank account? It's my money!

there is no problem with you paying $1m into your Brazilian bank account - as long as you can prove its provenance

if it is money you made in profits from drug dealing, gun running or other currently frowned on activities, you might not want too many questions asked and might, therefore, look for ways of getting it into the system that don't attract any questions

Share this post


Link to post
Share on other sites

there is no problem with you paying $1m into your Brazilian bank account - as long as you can prove its provenance

if it is money you made in profits from drug dealing, gun running or other currently frowned on activities, you might not want too many questions asked and might, therefore, look for ways of getting it into the system that don't attract any questions

I suspect they are more concerned about losing tax revenue.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   211 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.