Uber faces criminal probe over software used to evade authorities

Re:Uber faces criminal probe over software used to evade aut... by petre on Friday May 05, 2017 @01:01AM (#14271218)

A lot of usual situations like moving cash in excess of 10k euros without declaring it have been recently classified as attempts to launder money. In fact this is just how borrow happy states are hunting for taxes nowadays. Eliminating cash is their target. That way they can just take the money out of your account. Just look at India or other socialist states like Sweeden trying to eliminate cash while trumpeting that it's used for "money laundering".

[ Parent | on HN ]

Re:Uber faces criminal probe over software used to evade aut... by chrismcb on Friday May 05, 2017 @03:05AM (#14271637)

Typically it is illegal to not report a transaction over 10k. That is the law that was broken, not "money laundering" of course if you move a lot of money around just under the 10k, that is legal unless you knowingly break it up so that you don't have to report it.

[ Parent | on HN ]

Re:Uber faces criminal probe over software used to evade aut... by bogositosius on Friday May 05, 2017 @03:52AM (#14271805)

In what jurisdiction do I have to report transferring more than $10,000? That's an obligation of the bank, not individuals using banks.

(At least in the U.S. Do EU citizens have to report themselves for such transactions?)

[ Parent | on HN ]

Re:Uber faces criminal probe over software used to evade aut... by petre on Friday May 05, 2017 @04:22AM (#14271901)

No, the bank doesn't need to report it, they have transaction records on file. It's specifically about moving cash in excess of 10k euros. It's the same i nthe US, you have to report cash payments in excess to $10k to the IRS.

http://ec.europa.eu/taxation_customs/individuals/cash-contro...

In Greece they have even extended this to other comodities such as gold and you have to report it regardless if you're moving it or not, otherwise they can freely confiscate it.

http://www.zerohedge.com/news/2015-12-01/greeks-told-declare...

[ Parent | on HN ]

Re:Uber faces criminal probe over software used to evade aut... by piaste on Friday May 05, 2017 @04:27AM (#14271927)

> (At least in the U.S. Do EU citizens have to report themselves for such transactions?)

No, but transactions over X € must be conducted using a traceable medium - cheques, credit cards, bank transfer, sometimes Bitcoin. X varies by country.

Conducting transactions above X € in cash doesn't automatically constitute criminal money laundering, of course, it just gets fined.

[ Parent | on HN ]

Re:Uber faces criminal probe over software used to evade aut... by jeltz on Friday May 05, 2017 @07:00AM (#14272508)

As a Swede I find using us as an example hilarious. We are not a country which has traditionally cared too much about money laundering, most of our anti-money laundering stuff comes from other EU countries via the EU. And we definitely definitely do not have any problems with the tax revenue, our socialist government might even lower corporate taxes next year due to the current stable government income.

As for eliminating cash, yes we try to do that, but the reason given is not money laundering. The two reason/excuses which are commonly given are 1) preventing tax evasion and 2) preventing store robberies. Also note that the ones most heavily pushing for elimination of cash is not our government but our banks. I think card payments are much more profitable for banks compared to cash. But it is not like our government makes a secret about that its regulations surrounding cash payments are there to prevent tax fraud.

And the worst country for when it comes to hunting taxes is probably the US. A couple of days ago I had to sign two forms when opening a bank account where I guaranteed that I had no ties to America. Many smaller European banks wont even accept American citizens as customers due to the extra paper work to report stuff to the American IRS.

[ Parent | on HN ]