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No Terms. No Conditions

notermsnoconditions.com

121–130 of 149 posts

Re: No Terms. No Conditions

#122

Earlier quoted context omitted.

Maybe I am just slow. Bank 1 has the CYA clause and a cartel uses them for a decade for illegal purposes. Bank 2 does not have the clause and a cartel uses them for a decade for illegal purposes. In neither case does the clause prevent the illegal activity or make the bank any more or less aware of what customers are doing. They have to do KYC regardless of what the TOS says.

The "cover your ass" clause is for the bank to cover its ass, not to prevent the crime.

The point is, no judge or jury should be fooled into thinking putting “don’t do illegal stuff” in a TOS actually should matter. Forget the TOS. They allowed illegal activity.

Re: No Terms. No Conditions

#123

Earlier quoted context omitted.

Maybe I am just slow. Bank 1 has the CYA clause and a cartel uses them for a decade for illegal purposes. Bank 2 does not have the clause and a cartel uses them for a decade for illegal purposes. In neither case does the clause prevent the illegal activity or make the bank any more or less aware of what customers are doing. They have to do KYC regardless of what the TOS says.

The CEO of bank 2 goes to prison because "you turned a blind eye to illegal activity"

And what about the CEO of bank 1?

Re: No Terms. No Conditions

#124
post #18

I wonder how many one-sentence prompts have made it to the HN front page at this point.

Ah, now that you mention it, the part at the bottom makes it pretty obvious too:

>Last updated: never

>No further pages. No hidden clauses.

Exactly the sort of cutesy language the LLMs use when they're trying to agree with you. "You got it! Here's a page with simple, easy to understand terms and conditions. No further pages. No hidden clauses. Nothing hidden behind another link."

Re: No Terms. No Conditions

#125

Earlier quoted context omitted.

Maybe I am just slow. Bank 1 has the CYA clause and a cartel uses them for a decade for illegal purposes. Bank 2 does not have the clause and a cartel uses them for a decade for illegal purposes. In neither case does the clause prevent the illegal activity or make the bank any more or less aware of what customers are doing. They have to do KYC regardless of what the TOS says.

The point of the CYA clause isn’t to prevent illegal activity or make the bank more aware of what customers are doing. The point is that when Bank 1 is defending itself in court, it has one additional thing they can point at when arguing that it should not be liable for the illegal activities.

Ok, fair enough. I just don’t think that is convincing evidence, personally. But there would be 11 other people on the jury.

Re: No Terms. No Conditions

#127
post #99
post #81

Earlier quoted context omitted.

[flagged]

Who is "we"? Given the EU is the single largest foreign market openly accessible to the USA and all that money y’all invested into your pension ETFs needs constant growth to avoid shrinking, and the EU is your best bet on that… I’d recommend not ignoring us :-)

Who us "us"? You? Your EU representative? Your country? The EU is much more insignificant than people within the EU like to admit.

Re: No Terms. No Conditions

#129

Earlier quoted context omitted.

The CEO of bank 2 goes to prison because "you turned a blind eye to illegal activity"

And what about the CEO of bank 1?

His bank gets fined 3 minutes of revenue because "you turned a blind eye to illegal activity"
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