Silk Road forums
Discussion => Legal => Topic started by: Dread Pirate Roberts on August 03, 2013, 11:13 pm
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I made this board because I felt like it is an important area for just about everyone here. I changed the name of the Philosophy, Economics and Law board to Philosophy, Economics and Justice to keep discussion there in the realm of theory and to split discussion of practical real-world tactics and strategies here.
Hope it helps.
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Awesome. New board, im sure this will help many members.
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About time a board like this is introduced, great thinking and great job by introducing this DPR, I am sure a lot of people will benefit from this.
De ja vu for me!
Meerkovo
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Yes, this is a great add on to the forum - +1 DPR
Let's hope forum posters do not blatantly expose some loop holes that currently exists
Glad your back on the forum DPR broadening topics, usually it is about an outages or downtime
well done
ce
Update - KNOW WHAT FINCen is - applicable to buyers and sellers concerning legalities on finances
clearnet http://www.fincen.gov/statutes_regs/patriot/
The purpose of the USA PATRIOT Act is to deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and other purposes, some of which include:
•To strengthen U.S. measures to prevent, detect and prosecute international money laundering and financing of terrorism;
•To subject to special scrutiny foreign jurisdictions, foreign financial institutions, and classes of international transactions or types of accounts that are susceptible to criminal abuse;
•To require all appropriate elements of the financial services industry to report potential money laundering;
•To strengthen measures to prevent use of the U.S. financial system for personal gain by corrupt foreign officials and facilitate repatriation of stolen assets to the citizens of countries to whom such assets belong.
Below is a brief, non-comprehensive overview of the sections of the USA PATRIOT Act that may affect financial institutions.
Section 311: Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern
This Section allows for identifying customers using correspondent accounts, including obtaining information comparable to information obtained on domestic customers and prohibiting or imposing conditions on the opening or maintaining in the U.S. of correspondent or payable-through accounts for a foreign banking institution.
•Listed Rulemaking
Section 312: Special Due Diligence for Correspondent Accounts and Private Banking Accounts
This Section amends the Bank Secrecy Act by imposing due diligence & enhanced due diligence requirements on U.S. financial institutions that maintain correspondent accounts for foreign financial institutions or private banking accounts for non-U.S. persons.
•Special Due Diligence Programs for Certain Foreign Accounts
Section 313: Prohibition on U.S. Correspondent Accounts with Foreign Shell Banks
To prevent foreign shell banks, which are generally not subject to regulation and considered to present an unreasonable risk of involvement in money laundering or terrorist financing, from having access to the U.S. financial system. Banks and broker-dealers are prohibited from having correspondent accounts for any foreign bank that does not have a physical presence in any country. Additionally, they are required to take reasonable steps to ensure their correspondent accounts are not used to indirectly provide correspondent services to such banks.
Section 314: Cooperative Efforts to Deter Money Laundering
Section 314 helps law enforcement identify, disrupt, and prevent terrorist acts and money laundering activities by encouraging further cooperation among law enforcement, regulators, and financial institutions to share information regarding those suspected of being involved in terrorism or money laundering.
•Section 314(a)
•Section 314(b)
Section 319(b): Bank Records Related to Anti-Money Laundering Programs
To facilitate the government's ability to seize illicit funds of individuals and entities located in foreign countries by authorizing the Attorney General or the Secretary of the Treasury to issue a summons or subpoena to any foreign bank that maintains a correspondent account in the U.S. for records related to such accounts, including records outside the U.S. relating to the deposit of funds into the foreign bank. This Section also requires U.S. banks to maintain records identifying an agent for service of legal process for its correspondent accounts.
Section 325: Concentration Accounts at Financial Institutions
Allows the Secretary of the Treasury to issue regulations governing maintenance of concentration accounts by financial institutions to ensure such accounts are not used to obscure the identity of the customer who is the direct or beneficial owner of the funds being moved through the account.
Section 326: Verification of Identification
Prescribes regulations establishing minimum standards for financial institutions and their customers regarding the identity of a customer that shall apply with the opening of an account at the financial institution.
Section 351: Amendments Relating to Reporting of Suspicious Activities
This Section expands immunity from liability for reporting suspicious activities and expands prohibition against notification to individuals of SAR filing. No officer or employee of federal, state, local, tribal, or territorial governments within the U.S., having knowledge that such report was made may disclose to any person involved in the transaction that it has been reported except as necessary to fulfill the official duties of such officer or employee.
Section 352: Anti-Money Laundering Programs
Requires financial institutions to establish anti-money laundering programs, which at a minimum must include: the development of internal policies, procedures and controls; designation of a compliance officer; an ongoing employee training program; and an independent audit function to test programs.
Section 356: Reporting of Suspicious Activities by Securities Brokers and Dealers; Investment Company Study
Required the Secretary to consult with the Securities Exchange Commission and the Board of Governors of the Federal Reserve to publish proposed regulations in the Federal Register before January 1, 2002, requiring brokers and dealers registered with the Securities Exchange Commission to submit suspicious activity reports under the Bank Secrecy Act.
Section 359: Reporting of Suspicious Activities by Underground Banking Systems
This amends the BSA definition of money transmitter to ensure that informal/underground banking systems are defined as financial institutions and are thus subject to the BSA.
Section 362: Establishment of Highly Secure Network
Requires FinCEN to establish a highly secure network to facilitate and improve communication between FinCEN and financial institutions to enable financial institutions to file BSA reports electronically and permit FinCEN to provide financial institutions with alerts
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This is a great idea DPR.
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It surprises me everyday at the experience and intelligence shown by so many members of these forums. This subject is very interesting and relative to me as I'm sure it is to others. I hope contribute to and learn from the many knowledgeable members here. I think we're lucky these issues can be discussed by experienced people from all over the world.
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DPR, Mrs Bones has bet me $200 that you wouldn't reply or quote my post. So thanks in advance for that. ;)
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@ Crazy Eights
why do you think loopholes exist to begin with? Besides knowing a loophole is one thing, using/exploiting it another thing, getting away with it something else completely! Trust me when I say, I was state side, rotting away, till a savior came down from heaven and paid into the high 5 digit sum for top lawyer to do one week work and come up with something so ridiculous, but yet so true and convincing. I would give away my case if I went into detail but the arresting officer made a simple error and in addition on the arrest affidavit he wrote into detail, thus a little more then he should :) anyway...
Where am I going with this, how do you think the rich and powerful get away with murder? Through legal loopholes, my simple theory is, for every law that punishes, there is a law that counters that. Senators, high ranking members of society, government officials, many many people commit crimes outside their jobs and yet they still walk and breathe the streets, because of these loopholes. Thus, as much as many would know but wouldn't want to admit, the rich and powerful always get away with most crimes, and every misfortune comes down on the unfortunate to begin with...
At least these are personal experiences and what I gathered when I was a sitting duck. I think this calls for Scarface again, :)
Meerkovo
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I'll try and pull up a big list of articles and youtube videos and torrents discussing the 4th and 5th amendment and smuggling/USPS. At the moment off the top of my head my recommended views are:
Drugs Inc.
Border Wars
To Catch a Smuggler
Barry Coopers Never Get Busted Series
Flex Your Rights
Never Talk to Cops (youtube lecture)
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I like the idea of this board! I will be creeping it as it progresses.
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I'll try and pull up a big list of articles and youtube videos and torrents discussing the 4th and 5th amendment and smuggling/USPS. At the moment off the top of my head my recommended views are:
Drugs Inc.
Border Wars
To Catch a Smuggler
Barry Coopers Never Get Busted Series
Flex Your Rights
Never Talk to Cops (youtube lecture)
Aussies should also watch the show 'Border Security'.
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Just realized I could give Karma now so here's +1 for Crazy Eights cause he scares the shit out of me.
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I think 'Nothing To Declare' is Australian also, you guys are so tough even on food! Border Wars USA are top class, guys watch ITV Smugglers, our Afghan hash kilos, are/were exact same as the next batch that was caught and is shown in this series.
Meerkovo
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Thanks!
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I made this board because I felt like it is an important area for just about everyone here. I changed the name of the Philosophy, Economics and Law board to Philosophy, Economics and Justice to keep discussion there in the realm of theory and to split discussion of practical real-world tactics and strategies here.
Hope it helps.
I must admit that I never really visited the old "Philosophy, Economics and Law board" threads because it was too much reading to separate the three differing topics. It would be nice to have people who have worked in the field of law whether they be lawyers, ex-cops etc who can be consulted on a fixed thread much like the ex-postal employee consultancy on the shipping thread to provide information whether on particular areas of law. That would be really great to see something like that happen. Nice one mate!
I'll try and pull up a big list of articles and youtube videos and torrents discussing the 4th and 5th amendment and smuggling/USPS. At the moment off the top of my head my recommended views are:
Drugs Inc.
Border Wars
To Catch a Smuggler
Barry Coopers Never Get Busted Series
Flex Your Rights
Never Talk to Cops (youtube lecture)
Aussies should also watch the show 'Border Security'.
Yeah I watch that show all the time, it has pretty handy information regarding the postal service and how they deem packages as suspicious. Also I've seen the "Never get busted series" aswell the Bruce Campbell has suggested seeing and it's a pretty good watch and very well informative.
I think 'Nothing To Declare' is Australian also, you guys are so tough even on food! Border Wars USA are top class, guys watch ITV Smugglers, our Afghan hash kilos, are/were exact same as the next batch that was caught and is shown in this series.
Meerkovo
I've never heard of such a series. And yeah our customs are fucking spastics though and through.
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Dig it! Thanks boss
;D
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well maybe someone here can give me advice on getting a MSB licence and a price! and the same for money tranmitter or money exchanger whichever is able to be used in NY.
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Really excited to see what comes from this section!
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well maybe someone here can give me advice on getting a MSB licence and a price! and the same for money tranmitter or money exchanger whichever is able to be used in NY.
In NY you'd need about $3k for a license, plus a $500k bond. My advice? Cut any and all ties with SR long before you do so. And hire a lawyer.
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As to this board: Thank you DPR!
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well maybe someone here can give me advice on getting a MSB licence and a price! and the same for money tranmitter or money exchanger whichever is able to be used in NY.
In NY you'd need about $3k for a license, plus a $500k bond. My advice? Cut any and all ties with SR long before you do so. And hire a lawyer.
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As to this board: Thank you DPR!
wow! well im not actually the one selling them its a friend who has no ties to sr exept talking to me he dont even smoke weed!
do you bt chance know how long until you get the bond back? why a lawyer i thought its a licence any shmo can get?
do you know if just registering with FenCEN is pricey aswell? thanks again
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A fantastic idea! Thanks DPR!
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Thumbs up!
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Very informative.