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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

#421

Post by _Codemonkeyism »

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…

Do you think the money is on those small islands? Or on Guernsey? Or the British Channel Islands? No, the money is in New York and London at the usual banks who earn money on fees and can work with the deposits. The banks on those islands don't have a data center, or a bank vault. They only legally have the money on paper, but "their" money is in the banks in NYC (Caribbean) and London (former Empire).

Interesting read "Treasure Islands: Tax Havens and the Men who Stole the World", Nicholas Shaxson

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

#422

Post by 52-6F-62 »

CaymanCruiser wrote: post #337
52-6F-62 wrote: post #88

Earlier quoted context omitted.

I'm sorry but that just sounds absurdly reductive to me. It makes a gross assumption that people are incapable of keeping their government in check. Perhaps, in spite of my own cynicism, I believe people are capable of deciding how they want their societies to run (also in spite of our hiccups here in the Western world). So again: why do such businesses deserve to operate with such impunity? A natural function of bus…

>It makes a gross assumption that people are incapable of keeping their government in check. There is a difference between keeping a government in check, and ensuring governance stays relevant. Western democracy usually ensures the former, but is not very good on the latter. >Subverting reasonable social good is an active harm that is reasonable given the circumstances (like an ambulance or fire truck asserting the r…

Yeah. I don’t think we can avoid the breach into politics on this subject, though, since it seems inherently political and I can tell we have some fundamental philosophical differences!

Anyway I appreciate the thoughtful responses regardless.

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

#423

Post by [deleted] »

Ericson2314 wrote: post #204
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).

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

[deleted]

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

#424

Post by epanchin »

dmix wrote: post #251
cookie_monsta wrote: post #115

Strangely under-reported is that the same hacker is offering up to 100k to others who perform similar acts of hacktivism: https://www.vice.com/en_us/article/vb5agy/phineas-fisher-off...

So this activist has somehow profited from his “hacktivism” and he wants to spread his wealth to other activists?

Her

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

#425

Post by neilsimp1 »

koheripbal wrote: post #401
cookie_monsta wrote: post #115

Strangely under-reported is that the same hacker is offering up to 100k to others who perform similar acts of hacktivism: https://www.vice.com/en_us/article/vb5agy/phineas-fisher-off...

Probably a nation state actor

How would you know?

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

#426

Post by microtherion »

newyankee wrote: post #330
microtherion wrote: post #221

Earlier quoted context omitted.

As a Swiss, in a way it was sobering to see one of our dominant industries brought to heel so quickly. On the other hand, it was very satisfying to see those banks, who for decades had hid behind their hand tailored secrecy laws to do business with Nazis, dictators, and drug dealers, and were domestically untouchable, finally clean up their acts. As for "culturally and morally values privacy", I would find that a lot…

Sincere question: Do the Swiss have any moral debates about the source of wealth from third world countries' dictators, politicians etc and the impact on these countries of their action of enabling the 'theft' ? Or is the Swiss view generally more like what it has been historically, that they are neutral and provide a service that others can't.

There have been debates for at least 40 years. People like e.g. Jean Ziegler were highly critical of banking practices when otherwise they were still being seen as business as usual: https://en.wikipedia.org/wiki/Jean_Ziegler

35 years ago, there was a referendum that would have prevented banking privacy from being used to cover up crime. It failed decisively, but showed that at least 25% of the voters were in favor.

A few years later, after the ouster of Ferdinand Marcos, Swiss banks for the first time in my memory blocked some of his funds, and subsequently the banks were much more circumspect in dealing with dictators.

The next step was the debate about dormant Holocaust era accounts, which led to an official historical commission. That certainly led to domestic debate, which was complicated somewhat by the international pressure under which Switzerland found itself.

And finally, in recent years, after more scandals and stricter banking rules imposed especially by the US, the banks finally seem to be getting out of the organized crime business.

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

#428

Post by glofish »

xwdv wrote: post #315
glofish wrote: post #193

Earlier quoted context omitted.

you are conflating the job of journalist with a journalist's relationship with technology - even at that, you are both generalizing and oversimplifying. What I specifically referred to is that programming a computer as a day job (for example as the poster said their job is optimizing ads for a website) is probably far less fulfilling than following and analyzing world events and doing journalism. That's all.

Why do you think world events are inherently more fulfilling? A long time ago I realized there’s nothing interesting about world events. Most will have little to no effect on me and most of it is just like one big reality show. I now actively avoid learning about world events and am much happier. I’d rather learn about events local to me or stories about people I may be able to relate to, and none of those really req…

I don't follow why you equate journalism with covering corruption - that's just a small fraction of all news.

Overall I am not sure what point are you trying to make. That today you feel happier as a programmer? Sure, good for you.

I am only calling out the naive and frankly childishly simplistic arguments made in this thread that state things along the line: "It must suck to be a journalist, thank god I program ads for a website"

I have come believe that jobs that are hard to do but don't pay well are such because are more fulfilling and people are willing to trade monetary remuneration for a more interesting line of work. Many people (and it seems that you feel that way too) take this as a critique of their choices: "No way that a job that pays less than what I do is more interesting! Especially not a journalist/teacher/policeman etc."

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

#429

Post by auiya »

fulmicoton wrote: post #300
bouncycastle wrote: post #183

Earlier quoted context omitted.

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

Some countries have a tax on wealth in addition to income tax. (Switzerland for instance, maybe US in a few years)

These 4 European countries still have it [1]. Apparently it's difficult to enforce, probably for reasons touched on in this thread.

[1]https://www.businessinsider.com/4-european-countries-wealth-...

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

#430

Post by woofcat »

aianus wrote: post #277
woofcat wrote: post #254

Earlier quoted context omitted.

Not who you replied to, however modern taxation requires lots of information to work. For instance income tax works, because every employer is reporting how much they paid you. Then you report how much money you got paid, then factor in deductions such as specific contributions to charities etc. All of which are reporting to the Government at the same time. Before the advent of computing and auditing it would be hard…

HK raises practically all of its revenue from land and (until China started screwing it up) it was one of the richest, most developed places on Earth.

Okay and?

My point is that to collect property tax it's easier for the Government and Income tax is harder for the Government. It requires more reporting...

It has nothing to do with the value extracted.

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