Originally Posted by omgliekhax
So you are suggesting that it is possible that the PS money processors can be implicated in money laundering and you can get dragged into it?
Just trying to figure out how this can implicate players in criminal activities..
If you transfer money from the U.S. to a money processor, and that money processor is operating outside American law, guess what?
You have committed a crime. You are a participant, willingly or not, in the illegal activities of said money processor. Before, this mattered little because these transactions were NEVER reported. Now, they will be.
The crimes that money processors have been prosecuted under are money laundering laws.
Under this new law, (and since it is being passed as a "terrorism fighting law, what are the odds it will be voted against???), every financial transaction with that processor will be reported to the Federal government. Even down to a $1 transfer.
That is not true today, but will be. Previously, only transfers above $10,000 were reported to the U.S. government.
That means your name will be involved in any possible prosecution of that money processor. In what capacity, I cannot say.
I, however, will not take that risk.
Also, what if that money processor also is prosecuted for ties to, say, organized crime? Or terror-related activities? Such as money laundering connected to a suspected charity group with terror "ties"?
The best attorney in the world won't save your ass then.