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I think you forgot there’s whole planet with billions of people beyond the USA borders. Something what doesn’t follow every single us regulation != black market

by lebed2045 4y ago

I think you forgot there’s whole planet with billions of people beyond the USA borders. Something what doesn’t follow every single us regulation != black market.

colechristensen 4y ago
For better or worse, US law extends to anything that touches our financial network. Even a whiff of a connection to a US financial institution can get you prosecuted by the US. The Bank of Somewhereelse really wants to be able to continue doing business with the Bank of America, so they accept regulation.
- mistrial9 4y ago
  please go to Dubai and learn Arabic edit or Farsi or Mandarin, if they confide in you, report back on the universality of the US banks.. secondly, I send you a beaming picture of BRICS leaders this week to reinforce the "fish sees no water" nature of your statement. American here
  - colechristensen 4y ago
    "A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges" https://www.reuters.com/article/us-abraaj-usa-crime/former-abraaj-executive-pleads-guilty-to-u-s-charges-idUSKCN1TT2OM https://www.reuters.com/article/us-abraaj-usa-crime/former-a... "A Dubai resident who flaunted his extravagant lifestyle on social media has arrived in the United States to face criminal charges alleging he conspired to launder hundreds of millions of dollars from business email compromise (BEC) frauds and other scams, including schemes targeting a U.S. law firm, a foreign bank and an English Premier League soccer club." https://www.justice.gov/usao-cdca/pr/nigerian-national-brought-us-face-charges-conspiring-launder-hundreds-millions-dollars https://www.justice.gov/usao-cdca/pr/nigerian-national-broug... "United States and United Arab Emirates Sign Bilateral Agreement Enhancing Law Enforcement Cooperation" https://www.justice.gov/opa/pr/united-states-and-united-arab-emirates-sign-bilateral-agreement-enhancing-law-enforcement https://www.justice.gov/opa/pr/united-states-and-united-arab... 1 minute of googling
  - stackedinserter 4y ago
    What are you talking about, the US successfully imposed FATCA on nearly every bank institution on the planet, and none of them or their government even tried to push back.
    - lokedhs 4y ago
      That why a lot of people bankside outside the US will refuse to accept US customers. The reporting obligation is only applicable if they have US customers.
jermaustin1 4y ago
Almost every nation allows the US to spy on their citizens' bank accounts. Its part of allowing them to bank with the US.
- aaaaaaaaata 4y ago
  What they can see and dislike may still be legal in the jurisdiction it's happening in.

I think you forgot there’s whole planet with billions of people beyond the USA borders. Something what doesn’t follow every single us regulation != black market.

colechristensen 4y ago

For better or worse, US law extends to anything that touches our financial network. Even a whiff of a connection to a US financial institution can get you prosecuted by the US. The Bank of Somewhereelse really wants to be able to continue doing business with the Bank of America, so they accept regulation.

mistrial9 4y ago
please go to Dubai and learn Arabic edit or Farsi or Mandarin, if they confide in you, report back on the universality of the US banks.. secondly, I send you a beaming picture of BRICS leaders this week to reinforce the "fish sees no water" nature of your statement. American here
- colechristensen 4y ago
  "A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges" https://www.reuters.com/article/us-abraaj-usa-crime/former-abraaj-executive-pleads-guilty-to-u-s-charges-idUSKCN1TT2OM https://www.reuters.com/article/us-abraaj-usa-crime/former-a... "A Dubai resident who flaunted his extravagant lifestyle on social media has arrived in the United States to face criminal charges alleging he conspired to launder hundreds of millions of dollars from business email compromise (BEC) frauds and other scams, including schemes targeting a U.S. law firm, a foreign bank and an English Premier League soccer club." https://www.justice.gov/usao-cdca/pr/nigerian-national-brought-us-face-charges-conspiring-launder-hundreds-millions-dollars https://www.justice.gov/usao-cdca/pr/nigerian-national-broug... "United States and United Arab Emirates Sign Bilateral Agreement Enhancing Law Enforcement Cooperation" https://www.justice.gov/opa/pr/united-states-and-united-arab-emirates-sign-bilateral-agreement-enhancing-law-enforcement https://www.justice.gov/opa/pr/united-states-and-united-arab... 1 minute of googling
- stackedinserter 4y ago
  What are you talking about, the US successfully imposed FATCA on nearly every bank institution on the planet, and none of them or their government even tried to push back.
  - lokedhs 4y ago
    That why a lot of people bankside outside the US will refuse to accept US customers. The reporting obligation is only applicable if they have US customers.

jermaustin1 4y ago

Almost every nation allows the US to spy on their citizens' bank accounts. Its part of allowing them to bank with the US.

aaaaaaaaata 4y ago
What they can see and dislike may still be legal in the jurisdiction it's happening in.