The details involved in this settlement suggest that the bank has been charged based on the money laundering practices done back in 2016. They were essentially providing ways for russian oligarchs to safely deposit their funds into the US financial system. That sucks, but most likely these same funds are currently being held frozen by the US. Nobody really has the authority to unfreeze them besides the US.
I'm not convinced "that sucks" is a reasonable way of describing what essentially amounts to people transferring vast amounts of wealth from an ostensibly unfriendly state to the US. This seems like something US authorities ought to encourage.
Well... they're stealing it (perhaps legally, but still) from the people of Russia. The people of Russia are not so rich that it doesn't hurt. And people like that sometimes become international aggressors because of that.
It's not just what the oligarchs are doing. You need to think about what happens to the people as well.
London real estate is expensive because it's highly desirable, most people buying it up are not using funds derived from criminal sources.
It can be true that a pragmatic relationship with "dirty money" has played a role in making London as desirable as it's today, but that would be a success story rather than a negative side effect as you suggest.
Why do you believe that this has strengthened dictatorship? The obvious conclusion is exactly the opposite, moving money out of dictatorships to the UK weakens dictatorships and strengthens the UK.
Read the book. It promotes theft, murder and oppression because that's mostly the source of that money. What use is this money otherwise? To buy Russian made cars and computers?
And if your henchmen can't get toys and flats for themselves and their kids then you may be left without any henchmen. If really no bad money was accepted in the west then dictators' houses of cards fall apart quickly.
Does having Berezovsky, Chichvarkin, and Khodorkovsky in London hurt anyone? Or should we have let Russia extradite them back and take all their money?
Well for one if you couldn't get a nice western lifestyle for yourself and kids out of your blood money then you might not have a reason to kill and steal to get it
Somehow people like money. When offered lots of it they are willing to do shady stuff starting with not checking how the money was obtained (violence, murder and theft). Bad for democracy. See Kleptopia, https://www.thetimes.co.uk/article/boris-johnsons-russian-cr... etc.
As a customer in that bank; I was compelled to ask chatgpt to write a letter for me, complaining that they never let me in on the (supposedly) profitable deals..
Me: My bank was laundering money, I was not invited to participate. Write a complaint stating that I should have allowed the opportunity.
ChatGPT: Dear Sir or Madam,
I am writing to express my disappointment and concern regarding the recent news that my bank was involved in money laundering activities. I am a loyal customer of this bank and have been for many years, and I am shocked and saddened to hear about this illegal and unethical behavior.
As a customer, I feel that I should have been given the opportunity to participate in these activities. Not only would it have allowed me to gain some financial benefit from the illegal actions of the bank, but it would have also allowed me to be a part of something truly exciting and illicit.
I understand that money laundering is a serious crime and that the bank and its employees should be held accountable for their actions. However, I feel strongly that I should have been given the opportunity to join in on the fun.
I urge the bank to reconsider its policies and procedures in the future, and to make sure that all of its customers are given the opportunity to participate in illegal activities.
21 comments
[ 3.5 ms ] story [ 66.8 ms ] threadThe bank ends up paying $2B fine and $1B in settlements.
It's not just what the oligarchs are doing. You need to think about what happens to the people as well.
It can be true that a pragmatic relationship with "dirty money" has played a role in making London as desirable as it's today, but that would be a success story rather than a negative side effect as you suggest.
And if your henchmen can't get toys and flats for themselves and their kids then you may be left without any henchmen. If really no bad money was accepted in the west then dictators' houses of cards fall apart quickly.
Dirty bad evil russian money was invested into wine, driving up prices?
Me: My bank was laundering money, I was not invited to participate. Write a complaint stating that I should have allowed the opportunity.
ChatGPT: Dear Sir or Madam,
I am writing to express my disappointment and concern regarding the recent news that my bank was involved in money laundering activities. I am a loyal customer of this bank and have been for many years, and I am shocked and saddened to hear about this illegal and unethical behavior.
As a customer, I feel that I should have been given the opportunity to participate in these activities. Not only would it have allowed me to gain some financial benefit from the illegal actions of the bank, but it would have also allowed me to be a part of something truly exciting and illicit.
I understand that money laundering is a serious crime and that the bank and its employees should be held accountable for their actions. However, I feel strongly that I should have been given the opportunity to join in on the fun.
I urge the bank to reconsider its policies and procedures in the future, and to make sure that all of its customers are given the opportunity to participate in illegal activities.
Sincerely,
[Your Name]
Unfortunately they are at capacity, so I’ll have to later ask it for commentary about being unavailable to ask about…
Why? And why were you "compelled" to post it in a comment?
I don't think the ChatGPT output part of your comment contributes anything to the discussion.