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The problem I have with this law, is that judges will eventually start handing this information over to creditors and sue-happy lawyers and it will have a much
by paul_f 6y ago
The problem I have with this law, is that judges will eventually start handing this information over to creditors and sue-happy lawyers and it will have a much wider and worse impact than the current intention of containing money laundering.
- nullc 6y ago> that judges will eventually start handing this information over to creditors and sue-happy lawyers Nothing about this act specifies that a judicial order is required for the publication of the information. AFAICT, fincen can just give or sell it to whomever they want, and there is no consequence for unauthorized disclosure. I agree completely about the inevitable consequences. People have been way too hyped up by TV shows. In the US there is a lot more activity conducted via companies with obscure ownership for entirely lawful asset protection, personal security, and just basic privacy then there is in money laundering.