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No Terms. No Conditions
111–120 of 149 posts
Re: No Terms. No Conditions
#112Earlier quoted context omitted.
In most places it doesn't make a difference to the outcome of the legal process what it does do is give you a quicker simpler off ramp from the legal process (which reduces costs) and may stop some idiots even trying to sue in the first place. "Do not iron clothes while on body" should not be required to not be found liable, but it does change the question in court from providing discovery for safety consideration, h…
On top of that, I think my canister of Lysol wet wipes and many other bottles of cleaning chemicals says something like "it is against federal law to use this product for any purposes other than its intended use" Like, yeah it's illegal to do illegal stuff with or without the label, but at least Lysol could say "we did tell him that he can't use it for that."
It's illegal to do illegal stuff, but it's not illegal to do off-label usage stuff. If I want to take your hydrogen peroxide you sell as a surface disinfectant and mix it with vinegar and salt to etch my PCBs at home, that's my prerogative.
Re: No Terms. No Conditions
#113Earlier quoted context omitted.
That’s simple CYA, and also ensures you’ve not only done the illegal activity, you’ve defrauded the brokerage and breached your contract with them, and they get a weak KYC defense as well. Similar to the “Al Capone” instructions from the IRS: >Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if fr…
I still don’t understand the CYA though. For the majority of banks, they do not want people to conduct illegal activity via their bank. For the minority of banks which don’t mind it, nothing stops them from adding the clause anyways. A cartel bank probably cannot use the existence of the clause as a defense if they’re still allowing illegal activity. If the purpose is to allow the bank to terminate accounts suspected…
https://www.bitsaboutmoney.com/archive/kyc-and-aml-beyond-th...
> You might look at the standard KYC questionnaire for a new retail account and think “Really? You ask questions which have obviously correct answers. You give people less than a tweet worth of space to answer them. How could this possibly catch any criminals not stupid enough to write Occupation: Drug Dealer?” […] this is not the only mechanism by which KYC questionnaires have a stochastic effect; they’re also useful in an entirely different part of the crime lifecycle. Many, many crimes involve lies, but most lies told are not crimes and most lies told are not recorded for forever. We did, however, make a special rule for lies told to banks: they’re potentially very serious crimes and they will be recorded with exacting precision, for years, by one of the institutions in society most capable of keeping accurate records and most findable by agents of the state.
> This means that if your crime touches money, and much crime is financially motivated, and you get beyond the threshold of crime which can be done purely offline and in cash, you will at some point attempt to interface with the banking system. And you will lie to the banks, because you need bank accounts, and you could not get accounts if you told the whole truth.
> The government wants you to do this. Their first choice would be you not committing crimes, but contingent on you choosing to break the law, they prefer you also lie to a bank. […]
> Particularly in white collar crime, establishing complicated chains of evidence about e.g. a corporate fraud, and mens rea of the responsible parties, is not straightforward. But then at some point in the caper comes a very simple question: “Were you completely honest with your bank?” And the answer will frequently be “Well, no, I necessarily had to lie in writing.”
> And congratulations, you have just eaten a wire charge fraud for every transaction you’ve ever done.
Re: No Terms. No Conditions
#114It seems a fun and curiosity website. Not for any real use.
Re: No Terms. No Conditions
#115Earlier quoted context omitted.
On top of that, I think my canister of Lysol wet wipes and many other bottles of cleaning chemicals says something like "it is against federal law to use this product for any purposes other than its intended use" Like, yeah it's illegal to do illegal stuff with or without the label, but at least Lysol could say "we did tell him that he can't use it for that."
It's illegal to do illegal stuff, but it's not illegal to do off-label usage stuff. If I want to take your hydrogen peroxide you sell as a surface disinfectant and mix it with vinegar and salt to etch my PCBs at home, that's my prerogative.
Well, who's gonna tell on you? :) I don't have a bottle of H2O2 handy so I don't know if it normally has that disclaimer.
Re: No Terms. No Conditions
#116Re: No Terms. No Conditions
#117Earlier quoted context omitted.
It’s not just that they don’t want it, it’s that they’re liable for it themselves if they should have known it was happening. Asking you adds one more small layer of “we discouraged illegal activity and we didn’t know about any”.
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"
Re: No Terms. No Conditions
#118Earlier quoted context omitted.
That’s simple CYA, and also ensures you’ve not only done the illegal activity, you’ve defrauded the brokerage and breached your contract with them, and they get a weak KYC defense as well. Similar to the “Al Capone” instructions from the IRS: >Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Schedule 1 (Form 1040), line 8z, or on Schedule C (Form 1040) if fr…
I'm curious if anyone has ever said yes to income from illegal activities. Moreover, I wonder if something like this would be protected under 5th amendment.
I wonder what happens if you write "5th amendment" as the source for your completely legal salary.
Re: No Terms. No Conditions
#119Earlier quoted context omitted.
It's almost like the most effective way to publish without T&Cs is to just, you know, omit the section and publish what you want without T&Cs.
Interesting question. I wonder what the default (implied) T&C would be if nothing has been explicitly stated. For example, publishing a source code without an explicit license doesn't make it open source.
Most T&Cs don't mean anything anyway. There are no default T&Cs, there's just the law.
Publishing code without a license doesn't give it an "implicit all-rights-reserved license" - it's just illegal to copy because that's what copyright law says. A license is a conditional waiver of copyright law, a contract where the author promises not to enforce copyright against you if you fulfil certain conditions. (and this is legally binding so they actually can't enforce copyright against you)
Re: No Terms. No Conditions
#120Earlier quoted context omitted.
It’s not just that they don’t want it, it’s that they’re liable for it themselves if they should have known it was happening. Asking you adds one more small layer of “we discouraged illegal activity and we didn’t know about any”.
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.