Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
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Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#2This whistleblower is taking substantial personal risk. The Swiss banking secrecy laws provide for 5 year prison terms for people leaking client-sensitive information and when I worked on sensitive things in Switzerland I had to sign a document setting out the penalties and saying that I understood that I was personally liable and could (and probably would) receive jail time for disclosing anything.
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#3I understand the need for privacy and exclusive access, but would love some kind of anonymized stats per country, year etc..
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#4This whistleblower is taking substantial personal risk. The Swiss banking secrecy laws provide for 5 year prison terms for people leaking client-sensitive information and when I worked on sensitive things in Switzerland I had to sign a document setting out the penalties and saying that I understood that I was personally liable and could (and probably would) receive jail time for disclosing anything.
Considering the profile of the people exposed, shouldn't they be more concerned for their lives than prison?
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#5People on HN often dismiss the "nothing to hide" argument as invalid when it comes to strong privacy rights, but... the fact remains that those who very much want to hide their illegal activities and ill-gotten gains are first in line to the banks/services with the strongest privacy guarantees (swiss banks, cryptocurrencies, e2e chat apps, etc).
It's a hard problem and I don't think saying "oh well, having human traffickers and terrorists use the service to enable their activities is just the cost of privacy rights" is going to fly any more than "oh well, having tons of criminals use guns for murder is just the cost of the second amendment" flies. The latter argument used to fly, but it's increasingly unpopular to say that these days, and I suspect the same will happen when it comes to services with strong privacy guarantees.
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#6Money, liquidity, and fungibility is a public good, it has been (and still is) a waste of public and private resources to attempt to alter that reality.
Although this isn't a popular or public opinion by the public or banks or politicians, it is also the reality for banks and their host governments, and all lip service otherwise is either a lie for data collection or simply fails spectacularly at actually preventing any flow of funds.
So, there isn't any point in saying "Credit Suisse is a rouge bank", because the whole idea of pretending to whitelist transactions and clients is flawed and useless. There isn't any point in saying "privacy laws are immoral" because it doesn't matter what anyone's background is, they can still access banking and pools of liquidity to move between assets and trade with others anyway.
Even the vague idea of avoiding terrorist financing is flawed. Terrorism isn't expensive enough for this whitelisting project. People aren't flying planes into buildings because they don't want to fly planes into buildings. Its not that expensive. Let's drop the charade and reduce overhead costs for everyone.
Congratulations, we've successfully stigmatized having money, except for the people that actually have it who ignored the cultural stigma and can afford better education and counsel on reality. Let's move on from this data mining and transaction whitelisting project.
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#7covid ends. russia war begins. putin to discuss ceasfire. credit suisse expose.
is there any connection between these events, or am i just taking the simulation hypothesis too seriously.
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#8This whistleblower is taking substantial personal risk. The Swiss banking secrecy laws provide for 5 year prison terms for people leaking client-sensitive information and when I worked on sensitive things in Switzerland I had to sign a document setting out the penalties and saying that I understood that I was personally liable and could (and probably would) receive jail time for disclosing anything.
I hope we soon can get proper whistleblower law because right now companies get away with way too much crap.
At least the state can use anything leaked no matter how it was obtained against the banks and companies.
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#9covid ends. russia war begins. putin to discuss ceasfire. credit suisse expose. is there any connection between these events, or am i just taking the simulation hypothesis too seriously.
Inflation is too high currently (no surprise), so they need something to distract the masses with
Re: Credit Suisse leak unmasks criminals, fraudsters, corrupt politicians
#10covid ends. russia war begins. putin to discuss ceasfire. credit suisse expose. is there any connection between these events, or am i just taking the simulation hypothesis too seriously.
Inflation is too high currently (no surprise), so they need something to distract the masses with
So they can spend a warping 770 Billion a year on defense. How do you even sell that with so many people struggling in the US?