5 ms·

"Crimes don't matter" "Democracy doesn't matter" "Nothing matters" "You should just accept it" Does that sum it up pretty well? You seem to have a pretty veste

"Crimes don't matter" "Democracy doesn't matter" "Nothing matters" "You should just accept it" Does that sum it up pretty well? You seem to have a pretty vested interest in this being ignored if judged by the volume of similar comments you've left in this thread.

vmception 6y ago
I have a general interest in people understanding what this is. A suspicious activity report is not about a crime, it isn't about anything being suspected of a crime or even actually suspicious. SARs are an ill thought compliance nuance created by Congress 50 years ago with a ridiculous name. The headline even has a vested interested in covering its own ass with the wording "possibly corrupt" because their own legal department was like "really?" and the editor in chief was like "but think of the clicks!"
- defterGoose 6y ago
  So news organizations have an interest in having their stories heard? Film at 11. TFA literally makes no accusations, it is simply stating the facts. Manafort was convicted of money laundering and fraud, and the fact that many of these reports were filed on him makes it seem like the system is working as intended. Similarly, Mogilevich is wanted by the FBI. Maybe that should mean there's a reason for banks to stop doing business with him? No one here is arguing that banks should be required to stop doing business with anyone who triggers one of these reports. The point is that based on retrospect, they haven't been doing a good job of operating on the information they have, so maybe it's time to actually give such a law teeth.
  - vmception 6y ago
    I think the opposite, the law should stop burdening banks and the regulators with these mostly erroneous reports. The SARs didnt necessarily help bust Manafort, the bank already had records of the sender and recipient either way.

5 ms·

"Crimes don't matter" "Democracy doesn't matter" "Nothing matters" "You should just accept it" Does that sum it up pretty well? You seem to have a pretty veste

by defterGoose 6y ago

vmception 6y ago
I have a general interest in people understanding what this is. A suspicious activity report is not about a crime, it isn't about anything being suspected of a crime or even actually suspicious. SARs are an ill thought compliance nuance created by Congress 50 years ago with a ridiculous name. The headline even has a vested interested in covering its own ass with the wording "possibly corrupt" because their own legal department was like "really?" and the editor in chief was like "but think of the clicks!"
- defterGoose 6y ago
  So news organizations have an interest in having their stories heard? Film at 11. TFA literally makes no accusations, it is simply stating the facts. Manafort was convicted of money laundering and fraud, and the fact that many of these reports were filed on him makes it seem like the system is working as intended. Similarly, Mogilevich is wanted by the FBI. Maybe that should mean there's a reason for banks to stop doing business with him? No one here is arguing that banks should be required to stop doing business with anyone who triggers one of these reports. The point is that based on retrospect, they haven't been doing a good job of operating on the information they have, so maybe it's time to actually give such a law teeth.
  - vmception 6y ago
    I think the opposite, the law should stop burdening banks and the regulators with these mostly erroneous reports. The SARs didnt necessarily help bust Manafort, the bank already had records of the sender and recipient either way.