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> What it translates to in practice is a bunch of (mostly irrelevant) mandatory training for employees, and an approval from an auditor who isn't very familiar
by PuppyTailWags 4y ago
> What it translates to in practice is a bunch of (mostly irrelevant) mandatory training for employees, and an approval from an auditor who isn't very familiar with the business.
In the context of ensuring a bank doesn't transfer money to terrorists, this is completely wrong. Banks have a whole list of operations and processes, and failing this is enforced by actual jail time. This is why "know your customer" exists in banking. In the context of terrorism, there is no police enforcement regarding terrorists; often, we are talking military enforcement.
- thegrimmest 4y agoYes, but my point is that "transferring money to someone" is not a true crime. It doesn't have a victim. And yes, our governments should use military/diplomatic channels to fight terrorism directly - that's what they're for.
- PuppyTailWags 4y ago> Yes, but my point is that "transferring money to someone" is not a true crime. It doesn't have a victim. This is also incorrect. Transferring money to a terrorist organization is a crime because countries have declared it illegal. Of course well-funded terrorists have victims and enablement of well-funded terrorism has clear victims. And yes, the government is using military and diplomatic channels to fight terrorism directly-- by ensuring the resources they have access to are limited.