Wikipedia wrote:Bank secrecy is a legal principle in some jurisdictions under which banks are not allowed to provide to authorities personal and account information about their customers unless certain conditions apply. In some cases, additional privacy is provided to beneficial owners through the use of numbered bank accounts or otherwise. Bank secrecy is prevalent in certain countries, such as Switzerland, Singapore and Luxembourg as well as offshore banks and other tax havens under voluntary or statutory privacy provisions.
Connected to embezzlement and money laundering, bank secrecy is important to those who like to store their money somewhere else, or hide it.
Now, onto the issue.
ISSUE TITLE:
Banks Too Quiet?
DESCRIPTION:
After forty years of tracking it down, the financial assets of @@REIGON@@'s greatest embezzler and money launderer have at last been located in a secure bank account in @@NATION@@. Police are quick to state that if it was easier to probe or regulate bank accounts and monitor them for crime, such an incident could be found and settled much more quickly.
VALIDITY:
For any nation that is not a tyrannical/ever-watching dictatorship, and as long as they have an economy of "Developing" or higher. This is especially relevant to libertarian nations who give little restriction.
OPTIONS:
[option]"That doofus was hiding his money in @@NAME@@ all along! Right under our noses, too!" groans @@RANDOMNAME@@, a major investigator for the case. "We took forty years because the bank refused to disclose its customers' records. I bet they knew a money launderer was depositing this whole time, but they were too driven by profit to tell the truth! What we need to do is force banks to cooperate with the police! When we get a warrent, the bank must give us the data that we need to track down these villains! Sure, we may accidently find out what Granny's been withdrawing every now and then, but the error rate is miniscule and it keeps us from taking forty years to bust someone!"
[effect]banks are forced to reveal client's transactions when so demanded by a police warrent
[stats]economic freedoms way down, crime down, economy up (lowers black market), taxes uneffected, civil rights slightly down, police, the justice system, and courts become more efficient, nation becomes less corrupt
[option]"That's not far enough!" shouts @@RANDOMNAME@@, your chief of police. "Why must we go to some robe wearing dork to get a little slip of paper that lets us do our jobs? We should walk in and demand that banks give what we need to know to stop these crooks! In fact, why not do the same with search warrents? It may annoy some protesting goons, but if they're not criminals, what's there to hide?"
[effect]the police do not need a warrent to search private property
[stats]economic freedoms slashed, crime is slashed, taxes rise a small bit, privacy/civil rights lower notably, courts and police become much more efficient, nation becomes more authortarian, economy down
[option]"What in tarnation do ya think ya'll are tryin' ta do?" yells @@RANDOMNAME@@, President of Big Puff Daddy Bank, Inc. "Our customers have tha right ta their privacy! The po-po shouldn't be all up in their business simply because they're transferring their money from overseas! Banks shouldn't have to disclose nothin' to tha po-lease unless the customer so consents! The government mustn't snoop on privacy like that, even if the customer IS bad!"
[effect]wire transfers from around the globe are deposited in @@NAME@@'s unsearchable, ultra-private banks
[stats]economic freedoms way up, economy up, political freedoms down slightly, economy up, crime up, nation becomes more libertarian, taxes down, police system becomes less efficient, government becomes more corrupt, civil rights and privacy up, some funding in Commerce appears
Banks Too Quiet?
DESCRIPTION:
After forty years of tracking it down, the financial assets of @@REIGON@@'s greatest embezzler and money launderer have at last been located in a secure bank account in @@NATION@@. Police are quick to state that if it was easier to probe or regulate bank accounts and monitor them for crime, such an incident could be found and settled much more quickly.
VALIDITY:
For any nation that is not a tyrannical/ever-watching dictatorship, and as long as they have an economy of "Developing" or higher. This is especially relevant to libertarian nations who give little restriction.
OPTIONS:
[option]"That doofus was hiding his money in @@NAME@@ all along! Right under our noses, too!" groans @@RANDOMNAME@@, a major investigator for the case. "We took forty years because the bank refused to disclose its customers' records. I bet they knew a money launderer was depositing this whole time, but they were too driven by profit to tell the truth! What we need to do is force banks to cooperate with the police! When we get a warrent, the bank must give us the data that we need to track down these villains! Sure, we may accidently find out what Granny's been withdrawing every now and then, but the error rate is miniscule and it keeps us from taking forty years to bust someone!"
[effect]banks are forced to reveal client's transactions when so demanded by a police warrent
[stats]economic freedoms way down, crime down, economy up (lowers black market), taxes uneffected, civil rights slightly down, police, the justice system, and courts become more efficient, nation becomes less corrupt
[option]"That's not far enough!" shouts @@RANDOMNAME@@, your chief of police. "Why must we go to some robe wearing dork to get a little slip of paper that lets us do our jobs? We should walk in and demand that banks give what we need to know to stop these crooks! In fact, why not do the same with search warrents? It may annoy some protesting goons, but if they're not criminals, what's there to hide?"
[effect]the police do not need a warrent to search private property
[stats]economic freedoms slashed, crime is slashed, taxes rise a small bit, privacy/civil rights lower notably, courts and police become much more efficient, nation becomes more authortarian, economy down
[option]"What in tarnation do ya think ya'll are tryin' ta do?" yells @@RANDOMNAME@@, President of Big Puff Daddy Bank, Inc. "Our customers have tha right ta their privacy! The po-po shouldn't be all up in their business simply because they're transferring their money from overseas! Banks shouldn't have to disclose nothin' to tha po-lease unless the customer so consents! The government mustn't snoop on privacy like that, even if the customer IS bad!"
[effect]wire transfers from around the globe are deposited in @@NAME@@'s unsearchable, ultra-private banks
[stats]economic freedoms way up, economy up, political freedoms down slightly, economy up, crime up, nation becomes more libertarian, taxes down, police system becomes less efficient, government becomes more corrupt, civil rights and privacy up, some funding in Commerce appears
What do you think?
