Banks get punished for other peoples transfers to terrorist organisations
Post Reply
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
05-03-2015, 05:09 AM
Banks get punished for other peoples transfers to terrorist organisations
I read through some legal texts recently.

My motivation was a case some years ago in which a muslim charity collected money for Pakistani flood victims, transfered that money to a a center for distributing these funds in Pakistan and there alot of the money was given to people who pretended to have good intentions but who transferd the money to the Pakistani Taliban. I wanted to know more about this case an I am sure you all know of similar cases.
We know that British and American muslim charities transferd money to Hizbollah and Hamas, that French, German and Belgian muslim charities transfered cash to the Taliban, that Al Quaida pritty much had almoust all of it`s financial assets coming from Saudi charities and that right now there are millions being transfered to ISIS from Quatar and Saudi donators for "charity".

There are countless other examples and it is very important to point out their significants. I read an op-ed as part of my research that explained that the overtaking of Northern Mali by an alliance of islamist terror groups would have never been possible without millions being given to these organisations by Saudi, Quatari, Emirates and Kuwaiti donators.

Anyway, to get to why I opend this thread. From a legal standpoint it is often extremly hard to prosecute someone. Some charities get tricked themselves. Especialy Hizbollah, the Taliban and Hamas have specialised fake pr men for fake organisations set up by these organisations who go to charities and claim to need the money for medical supplies and other peacefull projects. But once they have the money their fake organisations disapear and the money ends up buying explosives and weapons. In such cases you cant really prosecute someone for their stupidity, naivity and gulability.

What stuck out for me was however a law that is implemented throughout most of Europe. Turns out that the Banks and financial institutions who safeguard the money, get prosecuted when the owner of that money asked the Bank to transfer funds to an individual or organisation and that organisations or individual then turns out to have been terrorist.

So the Banks can be prosecuted for a crime they didnt even know was a crime when they participated in it.

The law is clearly designed to discourage Banks from dealing with certain risk customer groups and for being more carefull with whom they do buisness. The law also applies to financial transactions involving organised crime in some countries, thereby encouraging Banks to ensure that their customers are not mobsters, crooks or terrorists - hence doing their own investigations into who their customers are.

So what do you think this?

[Image: RPYH95t.png]
Find all posts by this user
Like Post Quote this message in a reply
05-03-2015, 07:50 AM
RE: Banks get punished for other peoples transfers to terrorist organisations
Ask HSBC, their the experts.....

I feel so much, and yet I feel nothing.
I am a rock, I am the sky, the birds and the trees and everything beyond.
I am the wind, in the fields in which I roar. I am the water, in which I drown.
Find all posts by this user
Like Post Quote this message in a reply
05-03-2015, 09:15 AM
RE: Banks get punished for other peoples transfers to terrorist organisations
The laws are set up so banks can't turn a blind eye to who is using their services. It's one thing if you didn't know because you couldn't know. Then you have the HSBC example bemore noted where it was so blatant that they had to know but just ignored it.

There is a difference between banks who are unwittingly used to launder money and banks who just turn a blind eye because it's profitable. And, there have been so many examples of the latter that prosecuters tend to assume guilt and have the banks prove they didn't know.

Shackle their minds when they're bent on the cross
When ignorance reigns, life is lost
Find all posts by this user
Like Post Quote this message in a reply
Post Reply
Forum Jump: