Bitcoin Forum
December 09, 2016, 02:08:19 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Who are the REAL money launderers? Seriously.  (Read 1549 times)
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 17, 2012, 11:15:28 PM
 #1

http://www.bloomberg.com/news/2012-07-16/hsbc-aided-money-laundering-by-iran-drug-cartels-probe-shows.html

Let us not forget that HSBC was not the only bank involved in this activity.  Wachovia was another prime example as well as many more...

And Schumer has the nerve to blame Bitcoin?
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
ydenys
Member
**
Offline Offline

Activity: 96


View Profile
July 17, 2012, 11:42:16 PM
 #2

Yes, I caught these few seconds on the news today as well. A scapegoat was quickly assigned and sent home to spend more time with his family (provided with nice custom-made golden butt/face plugs as it is a custom in banking industry). All kerfuffle dealt with efficiently enough – mid-week, tomorrow there will be plenty of far more important news. What did you expect?
Herodes
Hero Member
*****
Offline Offline

Activity: 868


View Profile
July 18, 2012, 01:23:06 AM
 #3

haha, bankers are criminals, that's why we need to get rid of them.

http://www.thedailybeast.com/cheats/2012/07/05/barclays-scandal-to-spread.html is another recent story

BCB
CTG
VIP
Legendary
*
Offline Offline

Activity: 966


BCJ


View Profile
July 18, 2012, 01:59:18 AM
 #4

HSBC is from one of the largest financial institutions in the world, with over $2.5 trillion in assets, 89 million customers, 300,000 employees with operations in over 80 countries and 2011 profits of nearly $22 billion. Just a few snipits from the Senate Report:

problems included a once massive backlog of over 17,000 alerts identifying possible suspicious activity that had yet to be reviewed

a 3-year failure by HBUS to conduct any AML monitoring of $15 billion in bulk cash transactions

a failure to monitor $60 trillion in annual wire transfer activity

HBMX (Mexico) was the single largest exporter of U.S. dollars to HBUS(US), shipping $7 billion in cash to HBUS over two years (drug money)

HBUS provided nearly $1 billion in U.S. dollars to Al Rajhi Bank despite terrorist financing concerns

HBUS cleared $290 million in bulk U.S. dollar travelers checks, at times clearing $500,000 or more in U.S. dollars per day. The cheques were in denominations of $500 or $1,000, submitted in large blocks of sequentially numbered cheques, and signed and countersigned with the same illegible signature.  HSBC partner banks had little information or understanding why up to $500,000 or more in bulk U.S. dollar travelers cheques purchased in Russia were being deposited on a daily basis into one of 30 different Japanese accounts of persons and corporations supposedly in the used car business.

You can't make this stuff up!


Clipse
Hero Member
*****
Offline Offline

Activity: 504


View Profile
July 18, 2012, 02:02:14 AM
 #5

Dont worry, the law will surely deal with these crooks, LMAO what the fuck ever.  Roll Eyes

...In the land of the stale, the man with one share is king... >> Clipse

We pay miners at 130% PPS | Signup here : Bonus PPS Pool (Please read OP to understand the current process)
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
July 18, 2012, 02:02:23 AM
 #6

http://www.telegraph.co.uk/finance/comment/liamhalligan/9383982/Liborgate-could-trigger-crucial-banking-reform.html

These bankers are all corrupt.

unclemantis
Member
**
Offline Offline

Activity: 98


(:firstbits => "1mantis")


View Profile
July 18, 2012, 02:03:30 AM
 #7


I am! I get paid in bitcoin and withdraw in USD!

PHP, Ruby, Rails, ASP, JavaScript, SQL
20+ years experience w/ Internet Technologies
Bitcoin OTC | GPG Public Key                                                                               thoughts?
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
July 18, 2012, 02:04:42 AM
 #8


eww why would you go back to usd ?

evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 18, 2012, 03:44:34 AM
 #9

You guys are mad at banks for the wrong reason. HSBC shouldn't be faulted for "laundering" money. Laundering money is not immoral.

I wish MORE banks would stick to banking instead of acting as police agents, spying on customers, freezing accounts, and causing financial delays. HSBC should be applauded for their efforts here. There are plenty of things to get made at banks about... this ain't one of them Smiley
URSAY
Legendary
*
Offline Offline

Activity: 1708



View Profile
July 18, 2012, 03:54:27 AM
 #10


eww why would you go back to usd ?

Last time I checked it was accepted pretty much anywhere.  I just put it in their hand.  Simple transaction.
drrussellshane
Hero Member
*****
Offline Offline

Activity: 548


View Profile WWW
July 18, 2012, 03:54:32 AM
 #11

You guys are mad at banks for the wrong reason. HSBC shouldn't be faulted for "laundering" money. Laundering money is not immoral.

I wish MORE banks would stick to banking instead of acting as police agents, spying on customers, freezing accounts, and causing financial delays. HSBC should be applauded for their efforts here. There are plenty of things to get made at banks about... this ain't one of them Smiley

Yeah, but when the "big guys" have a different rulebook than the "small guys", it's a little different.

A bank may not stop multi/million/billion "deals", but I have a feeling that they might fill out an SAR just if some little guy were to walk in the bank with cash and a Ron Paul shirt.

So, to clarify, my problem with the banks (in this instance; I have more problems with banks than this... lol) is that they seem to enforce a double standard by which the super-wealthy may maintain their wealth and privacy without molestation and whereby the little man is punished with unreasonable fees and bank tellers who double as taxmen and government agents.

Buy a TREZOR! Premier BTC hardware wallet. If you're reading this, you should probably buy one if you don't already have one. You'll thank me later.
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
July 18, 2012, 03:55:55 AM
 #12

You guys are mad at banks for the wrong reason. HSBC shouldn't be faulted for "laundering" money. Laundering money is not immoral.

I wish MORE banks would stick to banking instead of acting as police agents, spying on customers, freezing accounts, and causing financial delays. HSBC should be applauded for their efforts here. There are plenty of things to get made at banks about... this ain't one of them Smiley
I have a policy of not applauding the efforts of companies which enjoy state subsidies, including barriers to entry, unless their efforts are lobbying for the removal of those subsidies.
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 18, 2012, 04:19:11 AM
 #13

drrussellshane and AbelsFire.... both comments perfectly stated. I agree 100% Smiley
repentance
Hero Member
*****
Offline Offline

Activity: 840


View Profile
July 18, 2012, 04:29:12 AM
 #14

There's plenty more where that came from.

http://www.fincen.gov/news_room/ea/

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
BCB
CTG
VIP
Legendary
*
Offline Offline

Activity: 966


BCJ


View Profile
July 18, 2012, 04:32:16 AM
 #15

I think Abelsfire said it best.  These are all "barriers to entry" for the small guys.  While the subsidized big boys get away with "strongly worded letters."
unclemantis
Member
**
Offline Offline

Activity: 98


(:firstbits => "1mantis")


View Profile
July 18, 2012, 05:47:05 PM
 #16


Because at the moment. Entergy, AT&T and Walmart do not accept bitcoin.

PHP, Ruby, Rails, ASP, JavaScript, SQL
20+ years experience w/ Internet Technologies
Bitcoin OTC | GPG Public Key                                                                               thoughts?
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 700


Wat


View Profile WWW
July 19, 2012, 02:48:16 AM
 #17


Because at the moment. Entergy, AT&T and Walmart do not accept bitcoin.

One day lets hope they do.

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
July 19, 2012, 04:51:09 AM
 #18

i just had to quote Fjordo from Bitcoin Reddit in response to the question of how the HSBC scandal would affect the Bitcoin price:

"I think it will push down on the price a little as drug dealers and terrorists will realise that they don't need bitcoin for laundering and instead can just work with big banks.
/s"

 Cheesy
BCB
CTG
VIP
Legendary
*
Offline Offline

Activity: 966


BCJ


View Profile
July 19, 2012, 02:22:55 PM
 #19

Obviously, They've know that all along.  I'm sure this won't be the first bank with this issue. 
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!