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Hacker Publishes 2TB of Data from Cayman National Bank

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Re: Hacker Publishes 2TB of Data from Cayman National Bank

#201

Post by ryandrake »

CaymanCruiser wrote: post #66
jdkee wrote: post #45

Earlier quoted context omitted.

"the company I founded and currently manage is offshored for tax and legal purposes" Simply curious, how do you feel about the ethics of this? Is it to reduce the tax burden in your company's home country?

There are two dimensions here, one is the tax liability and the second is regulatory compliance. Yes, the tax liability is significantly reduced when using offshore structures and I don't necessarily see this as a bad thing especially since an ultra-low corporate tax rate makes it possible to offer our customers services at a lower price than otherwise - I see this as a good thing. The second is that regulatory compl…

> makes it possible for us to focus on doing business rather than narrowly tiptoeing an arbitrary and complex regulatory line

This can be solved by simply operating well within the legal line. If you’re operating so close to the border of what’s illegal that you’re “tiptoeing the line” then maybe that is the root problem.

I’ve been in several businesses and not once ever had to stop and ask myself “is what I’m doing technically legal?”

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#202

Post by Aeolun »

mlazos wrote: post #155
throwaway_tech wrote: post #148

Earlier quoted context omitted.

>Just a quick note that the US is equally powerful in the financial arena as they are militaristically, if not more so. This was the trade off Churchill was forced to agree to, as London was being bombed by the Nazis, if he wanted the US to join the war. Before the War the UK ran the World's finance, after the War it was the US. In short the US financial power was birth directly from its military power.

I don’t think it was a deliberate agreement per se, I feel like it was just the natural outcome after the US helped rebuild a lot of Europe. The previous world order had been ripped apart by the war, and the US was the world’s largest economy by the end.

It was also pretty much the only economy left standing. I don’t think that can be overstated enough.

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#203

Post by bouncycastle »

jobigoud wrote: post #194
bouncycastle wrote: post #183

Earlier quoted context omitted.

By "legally gained cash" I mean that taxes have already been paid for it.

It's a trust but verify thing I believe. If the cash is anonymized, how can they know if the owner of this cash did in fact pay their taxes on it? Either they blindly trust everyone to properly declare all of their income, or they need to have some form of traceability.

So everyone is assumed to be a criminal until proven otherwise?

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#204

Post by Ericson2314 »

karambahh wrote: post #173
bouncycastle wrote: post #164

Earlier quoted context omitted.

> place to store anonymously your illicit cash What if I just want a place to anonymously store my legally gained cash? Unfortunately, it seems the normal people lost their privacy nowadays at the expense of the criminals and the "If you've got nothing to hide, you've got nothing to fear" argument has taken a stronghold in the financial sector.

Because the social contract of most countries is that your legally gained cash is to be taxed in one form or another and thus has to be known by the tax authorities? You can argue that your assets are to be private to the general public but some countries do not have that assumption (Norway comes to mind).

Money is inherently social, I don't buy this argument.

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#205

Post by Scoundreller »

Aperocky wrote: post #29
jokoon wrote: post #21

After watching The laundromat, I think it's big news. Although I will always be curious why countries are letting those small, insignificant islands and countries manage all this wealth, and why they're trusted to do it. This can't be secure or safe. I'm curious about the diplomacy and the political implications of this. What if their office get robbed? What if the island gets attacked? What if one of those shady ban…

You'd think it's the small island and countries managing those bank, but it's not. The banks are from the rich and for the rich, the country is just a ruse.

Exactly. Any big bank in the world has.... suspicious... operations in these places and will let you bank through them as if it's an account you have at home.

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#206

Post by Ericson2314 »

bouncycastle wrote: post #183
karambahh wrote: post #173

Earlier quoted context omitted.

Because the social contract of most countries is that your legally gained cash is to be taxed in one form or another and thus has to be known by the tax authorities? You can argue that your assets are to be private to the general public but some countries do not have that assumption (Norway comes to mind).

By "legally gained cash" I mean that taxes have already been paid for it.

Say there's a wealth tax? At no point can you be be sure it will never have tax implementations ever again.

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#207

Post by stjohnswarts »

seibelj wrote: post #185
tossAfterUsing wrote: post #136

Earlier quoted context omitted.

When you say "deserved taxes", what precisely is the reasoning behind this deservedness? it seems to me that there's no reasonable way to lay claim to the work product of another person without being a total jerk... maybe i'm mistaken.

It's mind blowing to me that people get angry about moving wealth to a lower tax country like Cayman, but are totally milquetoast about moving someplace within the same country that has the same effect of lowering one's effective taxation. If you are worked up about this Cayman thing, then you should be apoplectic if your neighbor moves to Texas or Florida. What horrible, disgusting people who are leaving their forme…

LOL maybe those communities should adopt some sane taxing policies instead of going all in on Nimbyism and "Imma take all your stuff because I know better how to dole it out".

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#208

Post by justinjlynn »

Thriptic wrote: post #116
Miner49er wrote: post #4

Earlier quoted context omitted.

Also contains some info on how they hacked Hacking Team and Gamma Group. Edit: Also a $100k bounty for future hacks on certain types of companies.

She also attacked the Barcelona police department, the Turkish government, and stole money from various Bitcoin wallets to donate to the Kurds iirc. Her write-ups are always really great reads and very enlightening.

Their pronouns are they/them.

https://twitter.com/DDoSecrets/status/1196397044644163585

Re: Hacker Publishes 2TB of Data from Cayman National Bank

#209

Post by stjohnswarts »

kevin_thibedeau wrote: post #130
seibelj wrote: post #58

Earlier quoted context omitted.

I still can’t believe it’s legal to move from SF to Texas if you were born and raised in SF. You owe the good people of San Francisco repayment for raising and nurturing you. Leaving after all that education and local services is a corrupt tax-dodge into a state without income tax.

Texas receives more federal dollars than it contributes. The real tax dodge is perpetrated by state governments that manipulate the federal budget to their benefit.

That's a lie. Texas pays more in federal taxes than it receives.
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