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Keyword: bankaccounts

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  • All of RT's Accounts in the UK Blocked, Says Editor-in-Chief Simonyan

    10/17/2016 7:16:57 AM PDT · by PJ-Comix · 23 replies
    Sputnik News ^ | October 17, 2016
    MOSCOW (Sputnik) — The RT broadcaster's accounts have been blocked in the United Kingdom, Editor-in-Chief Margarita Simonyan said Monday, suggesting that the move stifles free speech. "Our accounts in the UK have been closed. All Accounts. 'The decision is not subject to revision'. Long live freedom of speech!" Simonyan said in a Twitter post.
  • Wealth Confiscation for the Digital Age: the New “Cash Tax”

    05/11/2016 1:35:23 PM PDT · by Lorianne · 21 replies
    Wolf Street ^ | 10 May 2016 | Brian Hunt
    “Negative interest rates” have become a phenomenon with economists and the media. But I’m writing to tell you something about negative interest rates you haven’t heard. You certainly won’t hear about it in the mainstream press. What’s coming at you is a historic event. It’s something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years. If you know what’s coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this...
  • Tracking Cash More Difficult As Banks Close ‘High-Risk’ Accounts; Cash Going Underground

    04/04/2016 10:21:21 AM PDT · by Lorianne · 15 replies
    International Business Times ^ | 02 April 2016 | Marcy Kreiter
    Skittish banks have been closing what they consider high-risk accounts, many of them held by money transfer firms and humanitarian organizations, prompting the U.S. Government Accountability Office to open an investigation, the Wall Street Journal reported Saturday. This week, the Journal detailed how such organizations have been forced out of the global banking system. More than 50 nonprofits sent a letter to Treasury Secretary Jack Lew and Secretary of State John Kerry accusing banks and the Treasury of playing the blame game and doing little to solve the problem. They want the U.S. Treasury to state nonprofits aren’t inherently high-risk....
  • Chase freezes man's bank account because his dog's name, 'Dash,' looked like 'Daesh'

    03/31/2016 9:55:23 AM PDT · by winoneforthegipper · 66 replies
    BoingBoing ^ | cory doctorow
    Bruce Francis transferred some money to his dog walker to pay for services to his pit bull, and wrote the dog's name, "Dash," in the notes field. The processors at Chase Bank thought that Dash might be a sneaky way of spelling Daesh (which is the mocking, insulting nickname used by critics to refer to "ISIS"), decided that this was possible terrorist money-laundering, and stopped the payment, froze his account, and notified the Treasury Department that he was a suspected terrorist. It's hard to know what's stupidest about this: that the bank thought that Daesh was the kind of thing...
  • UK: Anti-Israel org's bank accounts shut down over terror links (Palestine Solidarity Campaign)

    11/30/2015 3:05:02 PM PST · by Olog-hai · 4 replies
    INN ^ | 11/30/2015, 11:04 AM | Ari Soffer
    Britain's leading anti-Israel organization has had its bank accounts closed, after it was revealed it may have been "inadvertently" funding Palestinian terrorism. The radical Palestine Solidarity Campaign (PSC) - which counts UK Labour Party leader Jeremy Corbyn as one of its patrons - was informed by the Co-operative Bank that its accounts were being closed due to the "high risk" destinations of its funds, many of which are donated to Hamas-linked agencies and other extremist groups in Gaza, Judea and Samaria. ...
  • Are They About To Confiscate Money From Bank Accounts In Greece Just Like They Did In Cyprus?

    05/24/2015 3:53:23 PM PDT · by SeekAndFind · 19 replies
    TEC ^ | 05/24/2015 | Michael Snyder
    Do you remember what happened when Cyprus decided to defy the EU? In the end, the entire banking system of the nation collapsed and money was confiscated from private bank accounts. Well, the nation of Greece is now approaching a similar endgame. At this point, the Greek government has not received any money from the EU or the IMF since August 2014. As you can imagine, that means that Greek government accounts are just about bone dry. The new Greek government continues to insist that it will never “violate its anti-austerity mandate”, but the screws are tightening. Right now the...
  • Hackers are draining bank accounts via the Starbucks app

    05/14/2015 7:10:28 PM PDT · by Enlightened1 · 30 replies
    CNN ^ | 05/14/15
    Thieves are stealing money from people's credit cards, bank and PayPal accounts -- by first tapping into their Starbucks mobile app. Starbucks (SBUX) on Wednesday acknowledged that criminals have been breaking into individual customer rewards accounts. The Starbucks app lets you pay at checkout with your phone. It can also reload Starbucks gift cards by automatically drawing funds from your bank account, credit card or PayPal. That's how criminals are siphoning money away from victims. They break into a victim's Starbucks account online, add a new gift card, transfer funds over -- and repeat the process every time the original...
  • New Justice Dept. policy allows authorities to seize suspicious bank accounts

    03/31/2015 3:50:21 PM PDT · by jazusamo · 70 replies
    The Washington Times ^ | March 31, 2015 | Maggie Ybarra
    U.S. Attorney General Eric Holder has crafted a new policy that would allow government officials to seize bank accounts involved in financial structuring schemes prior to filing criminal charges against the individuals who own those accounts. The new policy stems from the Justice Department’s ongoing review of its asset forfeiture program. The policy is aimed at preventing criminals from making a series of currency transactions under a certain monetary threshold in order to evade reporting the transaction to the authorities, according to a department statement. Those types of transactions typically lead to “the most serious illegal banking transactions” and occur...
  • Budget 2015: Federal Government set to introduce tax on bank deposits (Australia)

    03/29/2015 5:32:03 PM PDT · by dynachrome · 20 replies
    http://www.abc.net.au/ ^ | 3-29-15 | ABC Australia
    The Federal Government looks set to introduce a tax on bank deposits in the May budget. The idea of a bank deposit tax was raised by Labor in 2013 and was criticised by Tony Abbott at the time. Assistant Treasurer Josh Frydenberg has indicated an announcement on the new tax could be made before the budget. The Government is heading for a fight with the banking industry, which has warned it will have to pass the cost back onto customers. Mr Frydenberg is a member of the Government's Expenditure Review Committee but has refused to provide any details.
  • MUST READ:Global Bail-In Plan Could Still Leave Taxpayers Holding the Bag

    03/10/2015 6:03:55 PM PDT · by RaceBannon · 12 replies
    American Banker ^ | MAR 4, 2015 10:00am ET | CHRISTOPHER WHALEN
    BEWARE OF THE BAIL_IN The Government tells the banks to grab your assets to fill their coffers when they are insolvent, the way they took GREECE money The Banks are going to call YOUR money UNSECURED DEBT Now, Look at the first paragraph: http://www.americanbanker.com/bankthink/global-bail-in-plan-could-still-leave-taxpayers-holding-the-bag-1073068-1.html
  • Small business owners forced to battle IRS over seized bank accounts

    02/11/2015 6:39:42 PM PST · by Kaslin · 12 replies
    Fox News.com ^ | February 11, 2015
    Andrew Clyde, a Navy veteran who served in Iraq, started his small firearms store in Athens, Ga., in the 1990s. Over the years, he watched his business grow. And then, on April 12, 2013, two IRS agents swooped in and seized nearly a million dollars from his company's bank account. Clyde was on the wrong end of a murky federal program that allows agencies to seize assets they suspect could be tied to criminal activity -- even without actual criminal activity.
  • IRS: We’re Sorry for Seizing Small Business Bank Accounts

    02/11/2015 5:20:13 PM PST · by Libloather · 41 replies
    PJ Media ^ | 2/11/15 | Liz Sheld
    The IRS has apologized for stealing, or rather seizing, the back accounts of small businesses that did nothing other than deposit an improper amount of cash into their accounts. Pressured by Congress, the IRS has apologized for seizing banks accounts from otherwise law-abiding business owners simply because those owners structured bank transactions to avoid federal reporting requirements. The Associated Press reports “IRS Commissioner John Koskinen told Congress Wednesday that the IRS is changing policies to prevent the seizures, as long as the money came from legal means.” Civil asset forfeiture is a government racket where “suspicious” deposits at one’s banking...
  • Report: IRS Seized Thousands of Bank Accounts Without Filing Criminal Charges

    02/05/2015 7:18:20 PM PST · by Kaslin · 24 replies
    The Washingon Free Beacon ^ | February 5, 2015 | C.J Ciaramella
    IRS practiced a ‘seize first, ask questions later’ strategyThe Internal Revenue Service seized hundreds of millions of dollars from thousands of bank accounts over the past decade, often without proof of any criminal wrongdoing, according to a report released by the Institute for Justice this week.The Institute for Justice, a public-interest law firm, said the IRS practiced a “seize first, ask questions later” strategy when it seized $242 million in more than 2,500 cases from 2005 to 2012.All of those seizures were for “structuring” violations, an obscure rule intended to keep money launderers, terrorists, and other criminals from making small...
  • Croatia just canceled the debts of its poorest citizens

    02/02/2015 11:33:48 AM PST · by Lorianne · 17 replies
    Washington Post ^ | 31 January 2015 | Rick Noack
    Starting Monday, thousands of Croatia's poorest citizens will benefit from an unusual gift: They will have their debts wiped out. Named "fresh start," the government scheme aims to help some of the 317,000 Croatians whose bank accounts have been blocked due to their debts. Given that Croatia is a relatively small Mediterranean country of only 4.4 million inhabitants, the number of indebted citizens is significant and has become a major economic burden for the country. After six years of recession, growth predictions for Croatia's economy remain low for this year. "We assess that this measure will be applicable to some...
  • Forget the bank: Why many Americans are hiding cash

    01/31/2015 6:24:47 AM PST · by Red in Blue PA · 42 replies
    CNBC Yahoo Finance ^ | January 29, 2015 11:15 AM
    Where to stash your cash? Some Americans are sleeping on it-literally. While banks are still the go-to solution for most consumers, 29 percent say they're keeping at least some savings in cash bills and coins, according to a new survey of 1,820 adults from American Express (AXP). Of those holding cash savings, 53 percent are hiding it in a secret location. Millennials are even more apt than other generations to go the mattress or freezer route, with 67 percent of those saving cash saying that they hide it outside a bank account. "We've long asked people about how they've planned...
  • IRS Has Been Seizing Bank Accounts of Law-Abiding Small Business Owners

    10/29/2014 9:01:24 AM PDT · by SeekAndFind · 59 replies
    Christian Post ^ | 10/29/2014 | Samuel Smith
    The Internal Revenue Service has seized the bank accounts of hundreds of innocent business owners. Using the powers granted under the Civil Asset Forfeiture Reform Act of 2000, which was designed to help federal agencies catch drug dealers, terrorists and other criminals, the IRS has been legally seizing the bank accounts of law-abiding business owners who have consistently made cash bank deposits less than the federal bank reporting minimum of $10,000. The New York Times reported that hundreds of these cash-only business had their entire bank accounts seized by the IRS in the past few years because the agency is...
  • The IRS Crackdown on Offshore Tax Cheats Comes with a Price

    07/04/2014 5:44:44 AM PDT · by SeekAndFind · 40 replies
    Fiscal Times ^ | 07/04/2014 | John Grgurich
    <p>If you're an American, July 4 likely holds some significance for you, even if that's only getting the day off from work, having a beer, and watching some fireworks. But if you're an American living overseas, July 1 may come to hold an even greater significance — the day the Internal Revenue Service's new overseas tax-collection rules took effect.</p>
  • US Citizen? No Foreign Bank Account For You!

    03/29/2014 7:50:16 PM PDT · by dontreadthis · 26 replies
    Activist Post ^ | March 26, 2014 | Jeff Berwick
    Many people laughingly remember the image of the Soup Nazi in Seinfeld. If you did anything out of order or that he didn’t like, “No soup for you!” Sadly, thanks to the upcoming Foreign Account Tax Compliance Act (FATCA) in the US, banks around the world are turning away US passport holders, “No bank account for you!” But you don't even have to do anything wrong other than having been born a US citizen. Decades ago holding a US passport was a ticket to worldwide opportunity. Today it is nearly the opposite. First it started with the erosion of the...
  • Healthcare.gov Contractor (and Close Russian Ally) Belarus Built Malware RIGHT INTO Obamacare Code

    02/04/2014 3:28:29 AM PST · by Reaganite Republican · 26 replies
    Reaganite Republican ^ | 04 February 2014 | Reaganite Republican
    Remember when John McAfee warned us in November that anybody who signed up to the Obamacare site might have their bank account cleaned-out by hackers? The eccentric genius and former fugitive called the government website 'a hacker's wet dream', adding that there were 'NO safeguards' that would stop someone from starting a fake Obamacare website 'for a couple hundred dollars' that could 'empty your bank account' in hours.  McAfee added unambiguously that 'It's going to happen, and it's going to happen soon... nothing in the Obamacare system safeguards against this.'  And I thought he was just trying to sell...
  • Secret Swiss Bank Accounts Have Cover Blown

    09/05/2013 7:19:55 AM PDT · by William Tell 2 · 11 replies
    MainStreet.com ^ | 9-5-13 | Michael P. Tremoglie
    NEW YORK (MainStreet) — The Department of Justice (DOJ) announced August 29 that it will "encourage" Swiss banks to cooperate with its tax evasion investigations. Part of the encouragement comes in the form of a joint statement with the Swiss Federal Department of Finance, stating the mountain nation - known for its clocks, neutrality and the tendency of its banks not to ask too many questions about depositor's money - will cooperate with DOJ. Banks that aided tax evaders - and are currently...