Re:Uber rape victim sues Uber, says execs got her medical re...
by theptip on Thursday June 15, 2017 @09:18PM
(#14565908)
I'd have thought that a deposit of "hundreds of thousands of dollars in cash, in a single day" should trigger some KYC / money laundering checks. You certainly can't do that in the US without getting a ping on your account.
You are repeating your previous assertion about how the case is actually about a technicality that HSBC shouldn't have been held to. Can you provide a citation for that?
From the CNN article I linked, "The DOJ said HSBC also helped process $660 million in prohibited transactions from Iran, Cuba, Sudan, Libya and Burma by deliberately hiding the identities of these countries."
That doesn't sound like "HSBC didn't do the diligence the government would have made it do", it sounds like more willful misdirection on their part.
Edited to add:
> The only "due diligence" you have to do is what the government makes you do.
I don't think this is true. Doing your "due diligence" doesn't protect you against activity that is otherwise criminal, it just protects you from being in breach of your regulatory requirements, and the penalties that are included in those regulatory frameworks. "Due diligence" doesn't protect you if you murder someone, and it doesn't protect you if you commit another crime, like (say) conspiracy to launder drug money.
You are repeating your previous assertion about how the case is actually about a technicality that HSBC shouldn't have been held to. Can you provide a citation for that?
From the CNN article I linked, "The DOJ said HSBC also helped process $660 million in prohibited transactions from Iran, Cuba, Sudan, Libya and Burma by deliberately hiding the identities of these countries."
That doesn't sound like "HSBC didn't do the diligence the government would have made it do", it sounds like more willful misdirection on their part.
Edited to add:
> The only "due diligence" you have to do is what the government makes you do.
I don't think this is true. Doing your "due diligence" doesn't protect you against activity that is otherwise criminal, it just protects you from being in breach of your regulatory requirements, and the penalties that are included in those regulatory frameworks. "Due diligence" doesn't protect you if you murder someone, and it doesn't protect you if you commit another crime, like (say) conspiracy to launder drug money.