Bank Secrecy in Your Nation

[TurtleShroom]

Anytime you have money, so come banks. Core to the financial institution and necessary to store and access your money. Banks are as old as civilization, recieving references as far back as Jesus' Parable of the Talents, and regulated in the Qu'ran.

Bankers walk a facinating tightrope of getting rich or getting regulated and smacked upside the head by the Feds, unless they're the Feds.
If your nation has money, your nation has banks. Or credit unions. That's different and much more epic.


Bank secrecy, meanwhile, is the security of your accounts from federal snooping, regulation, and accountability. Banks that value secrecy will attract offshore banking and people from other nations, seeking to deposit their (shady) wealth in your bank to dodge taxes, store cash away, or get a ton of interest.

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.

Fans of bank secrecy claim that bank secrecy is core to privacy, and that the government has no right to look into one's bank acoounts, sometimes even WITH a warrent to do so. Bank secrecy haters insist that hiding an account from a police warrent hinders crime prevention and allows embezzlers, money launderers, villains, rogues, renegades, the Mob, and even terrorists to maintain a steady means of affording their acts of naughtiness.


So, the question is simple. How secret are your banks? Are your banks secret at all? Libertarian nantion banks tend to be silent and dictatorships can open your account for fun.

If the Law wants to probe a bank account, how hard is it to do so? Do they need a warrent, something more, or nothing?

Do your banks cooperate with international takedowns, when a wanted villain uses your banks to store offshore money?

Just how silent do your banks remain under pressure, and do you encourage offshore deeds?

[Georgism]

We have no banks but piggy banks. They're pretty silent due to their ceramic nature.

[TurtleShroom]

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TurtleShroom is reknowned for its silent banks. Never questioning the moral of the client, banks will easily open up accounts for any loser with a phone and credentials. Accounts with over fifty million in them, though, must be reported to the government for compliance with international non-WA law.

* = Stricken items were repealed during the course of the 2012 adhocracy madness.

Money can be wired solely by phone methods, like wire transfers, telegraph, fax, and phone lines. Computers are widespread, but the Internet does not exist in TurtleShroom. It was banned partially due to the low 22% usage rate and the 56kbs, unmaintained government lines, and the laziness of the Feds to updrade it. The other reason was to stop porn forever.

Banks require few items to transfer internationally. Large transfers (in the millions) call for the homeland, the real name, a citable ID, and the reason for using the transfer system so much.


Accounts are stored under usernames and PIN accounts.

Examples:

Code: Select all

BANK USERNAME: AwesomeInstantGrandBail
PASSWORD/PIN/ACCOUNT NUMBER: 85000000000

or

BANK USERNAME: Adam352354
PASSWORD/PIN/ACCOUNT: 6152010

[TurtleShroom]

We have no banks but piggy banks. They're pretty silent due to their ceramic nature.

LOL!

How can you not have banks? What do you do instead?

[The shee species]

Our banks don't waste time questioning the morals of a client. but simply open for anyone with money.

[Maraque]

Criminals and their like would find the City-State a perfect place to set up a bank account to do some shady and/or illegal transactions. Maraquean bank accounts are protected from snooping by Maraquean law enforcement without concrete evidence that there is shady business going on with those accounts, and even then they can only freeze the accounts.

Maraquean banks have historically been a haven for this kind of activity. Banks will let anyone open up an account with very minimal information required, and it has allowed for millions of people to hide away money for tax purposes, etc.

The government has no right to know anything about the account(s) of any individual, group, or company, and you would be hard pressed to find a judge in the land that would issue a warrant for such a thing. In the last decade, only 6 warrants were issued - six in 10 years, in a banking industry with billions of active accounts.

[NS Gregaria]

If the Law wants to probe a bank account, how hard is it to do so? Do they need a warrant, something more, or nothing?

By the normal laws of the United States, a warrant, signed by the appropriate judge is required.

Do your banks cooperate with international take-downs, when a wanted villain uses your banks to store offshore money?

It depends, really. If he is a small-time criminal, then generally, no, we do not waste our time in this way. If the criminal record is major, it is more likely we will cooperate.

How silent do your banks remain under pressure, and do you encourage offshore deeds?

Banks in Gregaria can stand like mountains against unlawful pressure, and frequently do when a Progressive administration is in office. The basic idea of offshore deeds is neither encouraged nor discouraged.

[Zeppy]

Criminals and their like would find the City-State a perfect place to set up a bank account to do some shady and/or illegal transactions. Maraquean bank accounts are protected from snooping by Maraquean law enforcement without concrete evidence that there is shady business going on with those accounts, and even then they can only freeze the accounts.

Maraquean banks have historically been a haven for this kind of activity. Banks will let anyone open up an account with very minimal information required, and it has allowed for millions of people to hide away money for tax purposes, etc.

The government has no right to know anything about the account(s) of any individual, group, or company, and you would be hard pressed to find a judge in the land that would issue a warrant for such a thing. In the last decade, only 6 warrants were issued - six in 10 years, in a banking industry with billions of active accounts.

^This.

I cannot have described the bank secrecy situation in the Federal Republic of Zeppy better then Maraque's bank secrecy policy.

[Imeriata]

Banks are often part of the royal merchant guild (unless the owner is not a member but all the favors the merchant guild have managed to get their hands on from the crown makes it hard to succeed unless you are a part of it) so as a result have the guild masters access to the banks but they may not according to law check accounts. But as the guild masters have access to every account so are they entitled to give up any information on a direct demand from either the crown or from the peace keeper corps. If such a demand is issued so can the guild masters hand out the information without the risk of getting in trouble with the law and in fact is it illegal to refuse such a demand.

[Augarundus]

So, the question is simple. How secret are your banks? Are your banks secret at all? Libertarian nantion banks tend to be silent and dictatorships can open your account for fun.

Very secretive. In a laissez-faire society, Augarundus does not track finances or restrict business in any way whatsoever. Nothing is taxed, little is provided.

Private-industry banks generally have a policy of complete and total secrecy, protection, and silence.

If the Law wants to probe a bank account, how hard is it to do so? Do they need a warrent, something more, or nothing?

Due to heavy legislation defending the ideals of individual liberty, Augarian law enforcement cannot search a bank without proper permission from the bank itself. The bank, though legally capable of waving the customer's 'right to privacy' in most cases (due to terms specified in the contract between both entities), usually doesn't do so unless evidence considered damning enough against a customer is leveled and shown to the bank.

Do your banks cooperate with international takedowns, when a wanted villain uses your banks to store offshore money?

An Augarian business may do whatsoever it pleases, so long as it does not commit crimes against the right of individual sovereignty in Augarundus.

[Consaria]

The state has unlimited information about clients info. (The only bank is Nationalized) But foreign governments have no access. Making it a popular place for people who commit fraud to put their money. Like Swiss bank accounts, but in Consaria.

[TurtleShroom]

Criminals and their like would find the City-State a perfect place to set up a bank account to do some shady and/or illegal transactions. Maraquean bank accounts are protected from snooping by Maraquean law enforcement without concrete evidence that there is shady business going on with those accounts, and even then they can only freeze the accounts.

Maraquean banks have historically been a haven for this kind of activity. Banks will let anyone open up an account with very minimal information required, and it has allowed for millions of people to hide away money for tax purposes, etc.

The government has no right to know anything about the account(s) of any individual, group, or company, and you would be hard pressed to find a judge in the land that would issue a warrant for such a thing. In the last decade, only 6 warrants were issued - six in 10 years, in a banking industry with billions of active accounts.

^This.

I cannot have described the bank secrecy situation in the Federal Republic of Zeppy better then Maraque's bank secrecy policy.

Wow. Is it just the posters so far, or are everyone's banks- mine included -more shady than the Federal Reserve, allowing for more secrecy than the famous banks of Switzerland itself?

This thread shoudl definately not fall into the hands of villains... or the Mafia.

[NS Gregaria]

Gregarian banks are not precisely shady. They just know whose money it is they are handling, and do not run about willy-nilly-silly-filly giving information like that away. It just...wouldn't be proper, really.

[Suckeryou]

We have no banks but piggy banks. They're pretty silent due to their ceramic nature.

LOL!

How can you not have banks? What do you do instead?

Probably the old fashioned way: On Park Benches. They were originally called Money Changers.
Money Changers exchanged whatever goods - usually other coins not of the current Realm - into the Accepted Coin of the Realm. Usually with a Certain markup. This still happens to day. Go from one country to another and Certain Banks with the wherewithal will exchange one Nation's currency, say the Dollar, to the European Euro, with a charge of about 1%-2%. Pardon me if I cannot remember the exact charge; it's been a while.

Anyway, the Benches the Money Changers sat on got corrupted to Bankers.

As far as Secrecy and Security: The Swiss have nothing on Suckeryou.
Legitimate funds are held Sacrosanct. Even the worst Oxygen Thief has the right to do with their legitimate funds as they wish.
On the other hand, IF it can be proven that the funds were ill-gotten - which isn't, By Law, easy - any and all Frauds, to the last fraction of a tenth of a percent can and will be repatriated to the injured parties.


For more on the history of Bankers and Money Changers Follow Link

[Novus Niciae]

The central bank is a government owned monopoly and the government has complete access to all it's records. But we maintain strict client confidentiality and will only reveal the balance of an account to a third party if the account holder is dead and the third party is the executor of their estate as nominated by their will, otherwise the treasury divides the funds according to the intestacy laws.

Additionally the police can obtain a search warrant to obtain a statement of transactions from a judge or magistrate if they can prove probable cause that a crime may of been committed by the account holder. And if the account is found to hold monies obtained as the proceeds of crime then upon their conviction of those crimes the court can seize those funds and compensation payments are made to the victims of the crimes the money was obtained from where and if this is appropriate. Any residual funds are placed in the consolidated revenue account of the department of the treasury.

[Victorious Decepticons]

We really don't have much use for banks. Victorious Decepticons is mainly a cash economy - it's considered stupid to fall for such a transparent "connive" as the charging of interest. Those who need a lot of Energon for a project will usually raid some place for resources and then sell off the loot, rather than take out a loan.

Plus - only a nut would deposit their Energon in a Decepticon bank and expect it to actually stay there for long!

We prefer to keep our Cubes in the personal vault that is a fixture in every home. The very wealthy build larger vaults or vault complexes and hire private security forces to protect the contents.

Outside "bank-run" vaults exist and are marketed toward those who have to store a sudden windfall, but actually intending to use one is considered a sign that Debugging needs to be visited first. Still, there's a sucker built every minute, to paraphrase that Earthian saying. It's a fairly regular occurrence for customers to come to their bank-run vault only to find the place deserted - and the vaults standing with their doors open...empty.

Of course, during the time preceding the disappearance of the particular bankers and the money, secrecy is 100% assured. Turning in a Decepticon would get the rat killed by a mob of angry citizens.

embezzlers, money launderers, villains, rogues, renegades, the Mob, and even terrorists

They're all welcome to deposit their Cubes in Decepticon banks, and not only will bankers not help the police...there ARE NO traditional police! The tradeoff, of course, is that one day all of that money will disappear. Still, some so-called "criminals" find it worth it to gamble that their banker will stay around long enough for them to complete their deal and be gone.

Even traitors can put their money in a Decepticon bank. In fact, bankers love to have their business. They know that eventually, Domestic Intelligence will catch up to the traitor and deactivate him. When that happens, the Energon in the bank becomes the banker's property, and nobody will be coming to blast him for taking it!

To answer the survey questions:

How secret are your banks? Are your banks secret at all? Completely secret.

If the Law wants to probe a bank account, how hard is it to do so? Do they need a warrent, something more, or nothing? The Government doesn't bother probing bank accounts. Why would it care where you got your money? If you're a traitor or dissident, the government will simply kill you. If you aren't, you're fine.

Do your banks cooperate with international takedowns, when a wanted villain uses your banks to store offshore money? No, and we would surely laugh at such a request since it would show obvious and total cluelessness about the Decepticons. We may even offer the "wanted villain" citizenship, if his activities show exceptional mastery of Decepticon-like methods.

Just how silent do your banks remain under pressure, and do you encourage offshore deeds? Anyone who tries to "pressure" our bankers will find himself looking down the barrels of said bankers' blasters. As for offshore trusts, sure we encourage people to set them up here! Unfortunately, most foreign investors know of the fact expressed in second paragraph of this post. Even if they don't, the name "Decepticons" seems to kill their desire to let us at their money...

[Mikedor]

A bank must open accounts if a court orders it.

[Voerdeland]

So, the question is simple. How secret are your banks?

Very secret

[Ethalor]

Ethalor's government is allowed any information, on any account. Period.
Records are kept on file. Top balances, and massive sudden drops are watched.

[Beth Gellert]

Naturally, the Igovian Soviet Commonwealth's anti-Capitalist economy contains no banking sector. There exists instead a plethora of credit unions typically associated with communes and/or soviet enterprises. Secrecy in these insitutions is not legally provided for.

[Radictistan]

Banks in Radictistan are fairly secretive regarding their clients. Banks may not allow government agencies acess to their client's account information (or even their identity in the case of numbered accounts) without a court order. These orders may only be acquired if it is proven, beyond a reasonable doubt, that the funds in the account are material to an organized crime investigation or that the account holder is using the account to evade taxes. The bank and its employees can be held criminally liable if they break the secrecy of their accounts.

[TurtleShroom]

...economy contains no banking sector. There exists instead a plethora of credit unions...

OOC: I suddenly like your monetary system.

OOC: See, my father works at a credit union and fiercely emphasizes the difference between a bank and a credit union. While his occupation is "banker", he works at a credit union, and is mildly annoyed when they call it otherwise. The biggest difference is that credit unions are a mandatory non-profit status and that every customer and employee holds a vote in a one-man-one-vote system, as opposed to thousands of votes for one man in stock.

OOC: Oh, and credit unions don't rule the world in conspiracy theories. That's the banks' job.

OOC: The bank/credit union thing is always something I enjoy talking about when I talk about my father. When a customer says on the phone that he or she is "at the bank", he will mutter under his breath, "credit union". He also seems to dislike the FDIC and has referred to bank employees as "fat-cats". Credit Unions also dodge the Federal Reserve that holds banks in its grasp because their system does not use the FDIC or the Reserve, but rather, an interesting method where every credit union dumps their cash into some sort of a general pot that any credit union can draw from or to in order to carry out transactions. Bank failures are more rare in credit unions because of the pot system, where other credit unions will assist the failer to keep it open with money from this collective pot.

OOC: As 501C3 non-profit institutions, credit unions are by law required to "reinvest the dividend back into their business", or, as my father puts it, back to the customer. However, this is why they are always smaller than true banks. The pot, the one-man-one vote principle, and the dependance of one union on the others keeps them from getting too large. Though, a small bank is a good one.

OOC: As you can see, I am proud of my father and his employment. I will do banking solely in credit unions whenever physically possible.

OOC: You know, there may be a way to cripple the Federal Reserve right there... take business elsewhere. Take it to credit unions, who are not under their power!



* = Insert virtual high-ten here.

[Makaar]

So, the question is simple. How secret are your banks? Are your banks secret at all? Libertarian nantion banks tend to be silent and dictatorships can open your account for fun.

If the Law wants to probe a bank account, how hard is it to do so? Do they need a warrent, something more, or nothing?

Do your banks cooperate with international takedowns, when a wanted villain uses your banks to store offshore money?

Just how silent do your banks remain under pressure, and do you encourage offshore deeds?

Bank accounts are considered private property in Makaar; as such, the bank must see a search warrant issued by a judge to a competent legal authority before it can divulge customer information. The police may request bank information without a warrant, and the bank will contact the customer to obtain their permission, but not giving permission and demanding a warrant is not considered evidence of guilt - indeed, it is considered safe practice.

Judges may issue search warrants to enable the police to obtain account information from a bank. Judges may also issue orders to freeze a certain bank account - this stops any assets or capital being transferred into or out of the account. If the prosecution can prove that funds in a bank account were obtained illegally, judges may order reclamation orders - the assets or capital become the property of the state. If possible, they are returned to their rightful owners; if impossible or otherwise impractical, they are retained by the state.

[Fatatatutti]

Our government and/or police have little interest in people's financial affairs. The average tax rate is 100% and we have reason to believe that some people aren't paying that much, but enforcement would cost money and that would be counterproductive.

On the other hand, Fatatatutian bank customers have no expectation of privacy. If the milkman walks into your bank and asks for your balance, chances are they'll give it to him. The same applies to foreign nationals. Everybody has access to your banking information.

But on the other other hand, neither the banks nor the government of Fatatatutti will cooperate with foreigners who attempt to recover ill-gotten funds from Fatatatutian banks.

-- Soon Yee Drysdale, First national Bakery of Fatatatutti

[Beth Gellert]

snippity

Henceforth we shall cut back on the number of turtles caught and consumed in the Commonwealth, delicious though they may be