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I really don't understand what the below law has to do with money laundering. You can't get a trial before they try and sell your assets? This is really bad a
by frankharv 7y ago
I really don't understand what the below law has to do with money laundering.
You can't get a trial before they try and sell your assets?
This is really bad and I had hoped this would be reformed in the USA. Instead we are forcing it on small countries?
Crazy shit.
"The other law empowers parliament to sell assets that have been confiscated or frozen during a criminal investigation (on certain conditions, such actions may be taken before a ruling is reached in court)"
- logicchains 7y agoMoney laundering laws are like the war on drugs: they cause a huge amount of inconvenience to common people but completely fail at their objective.
- raincom 7y agoExactly this. Recently Xoom and Western Union banned a friend from sending monthly remittances to his relatives back in Africa; he sends like $100 each, to eight relatives in Africa. First Western Union banned him, because it found him suspicious. Later, Xoom also banned him. Weird excuse was that some bank/store clerk in Africa has suspicions about these transactions.
- 14 7y agoSo do you think to these people something like Bitcoin would have an appeal? I am asking because the theme that Bitcoin has no appeal has come up a couple times lately here on HN and some people think it is completely useless. I have never used Bitcoin so do not know it's limitations. Could your friend conveniently send his family money in Africa that way?