Dan Mitchell on money laundering laws

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8 Responses to Dan Mitchell on money laundering laws

  1. Craig Mc

    Speaking of money laundering, a friend & myself were trying to figure out if there was a laundering angle to Ebay auctions like this: http://www.ebay.com/itm/141222102434.

    No-one in their right mind pays $6,500 for a bog standard, obsolete iPhone unless there’s some other angle. They’ve sold 3 at this price by the way. A way of getting cash over to Hong Kong perhaps?

  2. MemoryVault

    Fascinating find, Craig, and not the first time.
    Going through “buyer feedback” they’ve been selling a Canon camera body for $5,661.00, that normally retails for under $800.00 – 14 sold.

  3. Fred Lenin.

    Anyone wishing to know how to launder dirty mony contact ,J. Giliard , c/ o your nearest corrupt trade union. A large charge will be payable for this invaluable advice. Discretion guaranteed.

  4. hzhousewife

    The ( “American” ) owners of facechook, twitter, ebay and the like are NOT interested in the free world,
    just in raking in their fees.

  5. DaveR

    Why is anybody surprised that money laundering laws are not working? HSBC was caught red-handed in the USA deliberately breaking these laws when they decided to bank funds from Mexican and South American syndicates they knew were involved in illegal activities. They figured the risk of being caught and a severe penalty was less than the fees they would make. And they were right. Not one HSBC criminal prosecution and a light tap on the wrist. So why the concern – the laws are not applied anyway.

  6. thefrollickingmole

    Remembering the US senators are also immune from insider trading laws as well, another thing for ‘little people”

    WASHINGTON — The Senate gave final approval on Thursday to an ethics bill that bans insider trading by members of Congress, clearing the measure for President Obama, who called for such legislation in his State of the Union address two months ago.
    Multimedia

    The legislation was adopted by unanimous consent after the Senate voted, 96 to 3, to end debate on the bill, which was approved in the House last month by a vote of 417 to 2.

    Quickly followed by….

    So… with very little fanfare, Congress quietly rolled back a big part of the law late last week. Specifically the part that required staffers to post disclosures about their financial transactions, so that the public could make sure there was no insider trading going on. Congress tried to cover up this fairly significant change because they, themselves, claimed that it would pose a “national risk” to have this information public. A national risk to their bank accounts.

    It was such a national risk that Congress did the whole thing quietly, with no debate. The bill was introduced in the Senate on Thursday and quickly voted on late that night when no one was paying attention. Friday afternoon (the best time to sneak through news), the House picked it up by unanimous consent. The House ignored its own promise to give Congress three days to read a bill before holding a vote, because this kind of thing is too important to let anyone read the bill before Congress had to pass it.

    And, of course, yesterday, President Obama signed it into law. Because the best way to rebuild trust in Congress, apparently, is to roll back the fact that people there need to obey the same laws as everyone else. That won’t lead the public to think that Congress is corrupt. No, not at all.

    Things that see plebs sent to jail are legal … Let them eat cake.

  7. Tel

    No-one in their right mind pays $6,500 for a bog standard, obsolete iPhone unless there’s some other angle.

    http://www.reuters.com/article/2013/06/14/china-economy-fake-trading-idUSL3N0EQ0FX20130614

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