{"id":6723,"date":"2015-03-22T08:13:30","date_gmt":"2015-03-22T13:13:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=6723"},"modified":"2015-03-22T08:13:30","modified_gmt":"2015-03-22T13:13:30","slug":"justice-department-rolls-out-an-early-form-of-capital-controls-in-america","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=6723","title":{"rendered":"Justice Department Rolls Out An Early Form Of Capital Controls In America"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-20\/justice-department-rolls-out-early-form-capital-controls-america\" target=\"_blank\">Justice Department Rolls Out An Early Form Of Capital Controls In America<\/a><\/h3>\n<p>Something stunning took place earlier this week, and it quietly snuck by, unnoticed by anyone as the &#8220;all important&#8221; FOMC meeting was looming. That something could have been taken straight out of the playbook of either Cyprus, or Greece, or the USSR &#8220;evil empire&#8221;, or all three.<\/p>\n<p>This is how the\u00a0<a href=\"http:\/\/blogs.wsj.com\/riskandcompliance\/2015\/03\/16\/top-u-s-prosecutor-banks-need-to-do-more-than-file-sars\/\">WSJ explained it<\/a>:<\/p>\n<blockquote>\n<div class=\"quote_start\">The U.S. Justice Department\u2019s criminal head said banks may need to go beyond filing suspicious activity reports when they encounter a risky customer\u201cThe vast majority of financial institutions file suspicious activity reports when they suspect that an account is connected to nefarious activity,\u201d said assistant attorney general Leslie Caldwell in a Monday speech, according to prepared remarks. \u201cBut, in appropriate cases, we encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem.\u201d<\/div>\n<p>The remarks indicate that banks may be expected to do more than just file SARs, a responsibility that itself can be expensive and time-consuming.<\/p>\n<p>Some banks already have close relationships with law enforcement, said Kevin Rosenberg, chair of Goldberg Lowenstein &amp; Weatherwax LLP\u2019s government investigation and white collar litigation group. Ms. Caldwell\u2019s remarks \u201cspeak to moving forward in a more collaborative way,\u201d said Mr. Rosenberg.<\/p>\n<p><strong>A tip-off from a bank about a suspicious customer could lead law enforcement to seize funds or start an investigation, Ms. Caldwell said.<\/strong><\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p><i>\u00a0<\/i><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Justice Department Rolls Out An Early Form Of Capital Controls In America Something stunning took place earlier this week, and it quietly snuck by, unnoticed by anyone as the &#8220;all important&#8221; FOMC meeting was looming. That something could have been taken straight out of the playbook of either Cyprus, or Greece, or the USSR &#8220;evil [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[52,110,1433,4337,4336,3672],"class_list":["post-6723","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank","tag-capital-controls","tag-justice-department","tag-law-enforcement","tag-suspicious-activity-report","tag-us-justice-department"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6723"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6723\/revisions"}],"predecessor-version":[{"id":6724,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/6723\/revisions\/6724"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}