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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
by 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 agoI 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.