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Money laundering in traditional banking?!?! I thought that only happened in cryptocurrency!

• hanniabu 8y ago
  That's just what they want you to think
  • hanniabu 8y ago
    Not sure why I'm being downvoted. Banks are constantly making statements that cryptocurrencies are bad because they're used for laundering, fraud, and market manipulation, meanwhile the exact same thing has been happening with fiat, usually conducted by banks.
• mprev 8y ago
  Who has ever said that? Bloody strawman if ever I saw one. HSBC in Mexico, for example: https://www.bbc.com/news/business-18880269 https://www.bbc.com/news/business-18880269
• chosenbreed37 8y ago
  > Money laundering in traditional banking?!?! I thought that only happened in cryptocurrency! From my reading there was no evidence of any money laundering having taken place. But yes money laundering has habitually happened in the traditional banking system. Personally I think the banks get a lot more flack than is warranted. There have been some really obvious cases but criminals are generally are usually one step ahead of any measures prevention measures. And as a retail client provided I'm not losing my money I don't mind what other clients they have on their books. If regulators do than they're free to punish any offending banks as they see fit.
  • lixtra 8y ago
    > And as a retail client provided I'm not losing my money I don't mind what other clients they have on their books. You loose time if you accidentally trip one of their anti laundering wires. And we all know time is money. Edit: see https://news.ycombinator.com/item?id=19280297 https://news.ycombinator.com/item?id=19280297