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Yes, the money laundering part should not be prosecutable as long as you weren't involved in any crime. The very concept that not telling the government about e

Yes, the money laundering part should not be prosecutable as long as you weren't involved in any crime. The very concept that not telling the government about everything you do financially is somehow a crime is simply abhorrent.

reitanqild 9y ago
Yes, the money laundering part should not be prosecutable as long as you weren't involved in any crime. That is the thing: if you are knowingly working with criminals to perform their crime then you are involved in crime: Case 1: Planning the getaway from a bank robbery. Driving the getaway car. Criminal? yes Case 2: Driving a taxi with a person who happened to have robbed a bank earlier that day. Getting paid in stolen cash. Criminal? no Case 3: Helping to carry and hide away stolen goods or physical money when you know they are stolen. Criminal: yes Case 4: Helping someone with anything just because you are a nice guy/gal. Afterwards it turns out you assisted in a major art heist without knowing. Criminal: no Case 5: Helping to launder stolen money or money from trafficking when you know or should know[0] the source. Criminal: yes Case 6: well at this point you either get it or not. The very concept that not telling the government about everything you do financially is somehow a crime is simply abhorrent. Actually here we somewhat agree. As much as I am a fan of paying tax and avoiding criminality I'm also a huge fan of cash. :-) [0]: (Actually it is stricter now - borderline hilarious as my bank for the last twn years starts asking for my passport because of the KYC rules)
- MichaelGG 9y ago
  >[0]: (Actually it is stricter now - borderline hilarious as my bank for the last twn years starts asking for my passport because of the KYC rules) That's an issue, isn't it? Everyone can easily be in violation. Anyways yes if you are working with the criminals that's one thing. Running a BTC exchange, if you aren't inquiring about the customers funds (you shouldn't, it's none of your business!) then it should be no issue. If you somehow know the BTC was stolen from Mt Gox, then yeah, you're helping with the hack and should be charged for that (not for money laundering, just for whatever the general charge is as a participant to a crime).
  - reitanqild 9y ago
    If you somehow know the BTC was stolen from Mt Gox, then yeah, you're helping with the hack and should be charged for that Here we agree. If they knew or should have known then they are guilty. (not for money laundering, just for whatever the general charge is as a participant to a crime). I think this is what money laundering originally meant: Washing dirty money by for example using them to pay shell companies who again pay "clean" companies.
  - emodendroket 9y ago
    At the bottom of it the regulations create an objective standard for when you "should have known" the provenance of money, so it seems fairer to have them than not.
s73ver 9y ago
"Yes, the money laundering part should not be prosecutable as long as you weren't involved in any crime." Aiding criminal activity, which money laundering most assuredly is, is itself a crime.

reitanqild 9y ago

Yes, the money laundering part should not be prosecutable as long as you weren't involved in any crime. That is the thing: if you are knowingly working with criminals to perform their crime then you are involved in crime: Case 1: Planning the getaway from a bank robbery. Driving the getaway car. Criminal? yes Case 2: Driving a taxi with a person who happened to have robbed a bank earlier that day. Getting paid in stolen cash. Criminal? no Case 3: Helping to carry and hide away stolen goods or physical money when you know they are stolen. Criminal: yes Case 4: Helping someone with anything just because you are a nice guy/gal. Afterwards it turns out you assisted in a major art heist without knowing. Criminal: no Case 5: Helping to launder stolen money or money from trafficking when you know or should know[0] the source. Criminal: yes Case 6: well at this point you either get it or not. The very concept that not telling the government about everything you do financially is somehow a crime is simply abhorrent. Actually here we somewhat agree. As much as I am a fan of paying tax and avoiding criminality I'm also a huge fan of cash. :-) [0]: (Actually it is stricter now - borderline hilarious as my bank for the last twn years starts asking for my passport because of the KYC rules)

MichaelGG 9y ago
>[0]: (Actually it is stricter now - borderline hilarious as my bank for the last twn years starts asking for my passport because of the KYC rules) That's an issue, isn't it? Everyone can easily be in violation. Anyways yes if you are working with the criminals that's one thing. Running a BTC exchange, if you aren't inquiring about the customers funds (you shouldn't, it's none of your business!) then it should be no issue. If you somehow know the BTC was stolen from Mt Gox, then yeah, you're helping with the hack and should be charged for that (not for money laundering, just for whatever the general charge is as a participant to a crime).
- reitanqild 9y ago
  If you somehow know the BTC was stolen from Mt Gox, then yeah, you're helping with the hack and should be charged for that Here we agree. If they knew or should have known then they are guilty. (not for money laundering, just for whatever the general charge is as a participant to a crime). I think this is what money laundering originally meant: Washing dirty money by for example using them to pay shell companies who again pay "clean" companies.
- emodendroket 9y ago
  At the bottom of it the regulations create an objective standard for when you "should have known" the provenance of money, so it seems fairer to have them than not.

s73ver 9y ago

"Yes, the money laundering part should not be prosecutable as long as you weren't involved in any crime." Aiding criminal activity, which money laundering most assuredly is, is itself a crime.