5 ms·

I was not aware that I violate any guidelines. But that a lawyer is your first choice when fraud is involved with financial institutions is not obvious for me.

I was not aware that I violate any guidelines. But that a lawyer is your first choice when fraud is involved with financial institutions is not obvious for me. Reminds me when people called the BaFin in Germany and wanted to report fraud agains wirecard and they just hung up on those people. "I've had several dealings with lawyers in Estonia and no reason for a complaint so far. But I didn't get them from some other website, I asked around in Estonia with business contacts there." We did not have this option. To get a reliable, English speaking lawyer in a foreign country, the list provided by your embassy is normally a good start. Again: One scandal 220 billion? I mean, how big is their (Estonias) GDP "Latvia had a similar issue a few years ago, they US basically pulled the plug on that and since then it's a lot better. " It really should not be another country pulling the plug on you. Today, only 353 companies own a crypto license in Estonia while 1,234 companies did so at the end of 2019. No comment.

jacquesm 3y ago
What you are proving is that they are in fact working on this problem. And it is a problem, but it is not Estonia doing this, it is simply criminals taking advantage of an underpowered state in the EU that tries very hard to create ways to hook up to foreign entrepreneurs. Unfortunately the crypto gangs are like cockroaches. But it isn't Estonia itself doing this and you really should stop making silly statements like that. The US did the right thing in forcing Latvia to have a higher standard, at the same time, these countries are very weak in terms of controls and yet they have to have all of the trappings of a fully functional EU state to be able to play by the rules. This stretches local resources, sometimes beyond the breaking point. As an illustration: you, a citizen of another country also did business in Estonia, something that likely would be quite difficult in many other places for exactly those reasons. Finally: BaFin had problems, they run a lot deeper than WireCard and you would be similarly silly in stating that fraud was the businessmodel for Germany. Such generalizations serve no purpose.
- Beijinger 3y ago
  "What you are proving is that they are in fact working on this problem." The scam site has been up for many years. "be similarly silly in stating that fraud was the businessmodel for Germany" No, I never stated that [financial] fraud was/is the business model for Germany. Especially Germany, while a hub for laundering money in other ways, is not very finance heavy. I was just pointing out that German authorities did not do their job in a nearly criminal way. Germany considered ‘paradise’ for money laundering https://www.refire-online.com/investment/germany-considered-%E2%80%98paradise%E2%80%99-for-money-laundering/ https://www.refire-online.com/investment/germany-considered-...
  - jacquesm 3y ago
    > No, I never stated that [financial] fraud was/is the business model for Germany. Please read more carefully. > The scam site has been up for many years. And likely will continue to be so until someone successfully brings a case to the Estonian courts. And that will require that party to go by the book, it will likely be costly (as it always is when bringing suit in a country not your own) and will take a long time. > What you are proving is that they are in fact working on this problem. But what I meant was: the fact that the numbers are going down is proof positive that something is being done, but probably just not fast enough. Otoh governments tends to be ridiculously ineffective in thse things. FWIW Estonia has ~1.3 million people living there, the vast majority of them earn their living in legal ways and silly generalizations are not going to help you gain much sympathy. Estonia, Latvia and Lithuania (and a number of other EU states) all have underpowered financial, legal and enforcement branches in large part because they are simply not the wealthiest countries and this situation attracts scammers and other criminals like flies. This is a real problem. Solutions are neither going to be quick nor easy.
    - Beijinger 3y ago
      "FWIW Estonia has ~1.3 million people living there, the vast majority of them earn their living in legal ways " I never said anything against Estonian people, neither did I say anything against Mexicans. Most people earn their living in a legal way. Even in a favela (Brazilian slum) the drug dealers make a tiny tiny fraction of the population. (In fact, I did not even say anything against drug trade. I think the war on drugs has failed tremendously and drugs should be legalized as much as they can be reasonably legalized). "FWIW Estonia has ~1.3 million people living there, ..have underpowered financial, legal and enforcement branches" Well, how many inhabitants does Luxembourg or Liechtenstein have? A fraction of this. This can't be an excuse.

jacquesm 3y ago

What you are proving is that they are in fact working on this problem. And it is a problem, but it is not Estonia doing this, it is simply criminals taking advantage of an underpowered state in the EU that tries very hard to create ways to hook up to foreign entrepreneurs. Unfortunately the crypto gangs are like cockroaches. But it isn't Estonia itself doing this and you really should stop making silly statements like that. The US did the right thing in forcing Latvia to have a higher standard, at the same time, these countries are very weak in terms of controls and yet they have to have all of the trappings of a fully functional EU state to be able to play by the rules. This stretches local resources, sometimes beyond the breaking point. As an illustration: you, a citizen of another country also did business in Estonia, something that likely would be quite difficult in many other places for exactly those reasons. Finally: BaFin had problems, they run a lot deeper than WireCard and you would be similarly silly in stating that fraud was the businessmodel for Germany. Such generalizations serve no purpose.

Beijinger 3y ago
"What you are proving is that they are in fact working on this problem." The scam site has been up for many years. "be similarly silly in stating that fraud was the businessmodel for Germany" No, I never stated that [financial] fraud was/is the business model for Germany. Especially Germany, while a hub for laundering money in other ways, is not very finance heavy. I was just pointing out that German authorities did not do their job in a nearly criminal way. Germany considered ‘paradise’ for money laundering https://www.refire-online.com/investment/germany-considered-%E2%80%98paradise%E2%80%99-for-money-laundering/ https://www.refire-online.com/investment/germany-considered-...
- jacquesm 3y ago
  > No, I never stated that [financial] fraud was/is the business model for Germany. Please read more carefully. > The scam site has been up for many years. And likely will continue to be so until someone successfully brings a case to the Estonian courts. And that will require that party to go by the book, it will likely be costly (as it always is when bringing suit in a country not your own) and will take a long time. > What you are proving is that they are in fact working on this problem. But what I meant was: the fact that the numbers are going down is proof positive that something is being done, but probably just not fast enough. Otoh governments tends to be ridiculously ineffective in thse things. FWIW Estonia has ~1.3 million people living there, the vast majority of them earn their living in legal ways and silly generalizations are not going to help you gain much sympathy. Estonia, Latvia and Lithuania (and a number of other EU states) all have underpowered financial, legal and enforcement branches in large part because they are simply not the wealthiest countries and this situation attracts scammers and other criminals like flies. This is a real problem. Solutions are neither going to be quick nor easy.
  - Beijinger 3y ago
    "FWIW Estonia has ~1.3 million people living there, the vast majority of them earn their living in legal ways " I never said anything against Estonian people, neither did I say anything against Mexicans. Most people earn their living in a legal way. Even in a favela (Brazilian slum) the drug dealers make a tiny tiny fraction of the population. (In fact, I did not even say anything against drug trade. I think the war on drugs has failed tremendously and drugs should be legalized as much as they can be reasonably legalized). "FWIW Estonia has ~1.3 million people living there, ..have underpowered financial, legal and enforcement branches" Well, how many inhabitants does Luxembourg or Liechtenstein have? A fraction of this. This can't be an excuse.