[118442] in Cypherpunks
Uncle Sam's Clean Sweep (was Re: Reason-Express: REx39, v2)
daemon@ATHENA.MIT.EDU (Robert Hettinga)
Tue Sep 28 09:29:00 1999
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Date: Tue, 28 Sep 1999 07:55:41 -0400
To: dcsb@ai.mit.edu, Digital Bearer Settlement List <dbs@philodox.com>,
cryptography@c2.net, cypherpunks@cyberpass.net
From: Robert Hettinga <rah@shipwright.com>
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Reply-To: Robert Hettinga <rah@shipwright.com>
...From the "render unto FinCEN" department...
At 12:13 PM -0500 on 9/27/99, Jeff Taylor wrote:
> - - Uncle Sam's Clean Sweep - -
>
> The Clinton administration has rolled out yet another new plan to fight money
> laundering. This one would extend reporting requirements to brokerage houses,
> casinos, and check-cashers. The new rules would also increase international
> cooperation in investigations of criminals who seek to run their
>money through
> legitimate businesses.
>
> As always, the war on drugs is the driving force behind the crackdown. The
> idea is that if drug dealers cannot be stopped from amassing millions, at
> least they can be stopped from spending them.
>
> Also included is an interesting little distinction of "rogue jurisdiction"
> for any country which refuses to go along with the controls on
>currency flows.
> The U.S. would seek to punish such states by making it harder for them to get
> bank loans and otherwise mucking with its finances until it plays ball.
>
> Sounds like supra-national racketeering, but there is no law against that.
>
> http://cnn.com/ALLPOLITICS/stories/1999/09/24/money.laundering/index.html
>
>http://search.washingtonpost.com/wp-srv/WPlate/1999-09/24/052l-092499-
>idx.html
> *************************************************************
-----------------
Robert A. Hettinga <mailto: rah@ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
