Not safe in bank that is why these places exist. They had to lie to a judge to get around the requirements.
I think this case is totally â â â â â â up and these people should be pissed, and heads should roll - assuming these reports are true of course.
But the chain of events that started this case off is, the store was being investigating for money laundering. Unlikely a reputable bank would face that fate.
Why do you think banks arenât safe?
The IRS can levy every â â â â â â â thing you own or have including your bank accounts. All they need is a reason. We know the FBI lies to gain access with a warrant. The IRS has and can lie about âan improper tax returnâ to proceed with a levy.
At that point youâre â â â â â â â
2 Likes
This is a case about safety deposit boxes. We werenât discussing FBO access to bank accounts. We were discussing wether Safet Deposit Boxes in banks are safer than those in stand alone stores like the one that was raided.
Great post. It is insane the number of people the USA incarcerates for idiotic reasons. But this issue is also problematic because of prisons for profit and bail. Its crazy that non violent offenders or those who pose a real rcan end up being jailed prior to being found guilty
The IRS has always had far more power than any other government entity.
This transcends party politics and is something that the American people have allowed to happen over time. The excesses of the IRS have to be curbed.
Guess it depends on who you are and what youâre trying to keep safe. Either way the goobermint can access your bank SD box if they want.
2 Likes
Banks are safe in general. But safety deposit box were to easy for courts to access just on a whim because there is a name associated to the box. These places were set up to combat that. Now money laundering is a whole different story. But I wouldnât say banks would not launder money.
Probably the reason the feds went and took everything is because most boxes have no names attached to them just numbers. So the feds canât subpoena the boxes names. Instead they thought they found a work around, just take everything.
If they can get away with it banks will launder money. I have no doubt that many of the top banks and bankers are involved in shady crap.
1 Like
Right. But as I mentioned in the earlier text, the ball that got things rolling here was, the store with teh safety deposit boxes was being investigated for money laundering.
Banks canât get away with that â â â â â IMO, and in regards that risk - an investigation starting becuse of money laundering - they would be safer.
I think itâs virtually impossible for a bank to launder money. Regulation on banks if vey strict with intense paper work and requirements.
What do you mean these places donât have names attached to the boxes? Who do they bill? Iâve no experience with them at all. My bank just has numbers outwardly attached to their boxes - I think all do. But there is of couse record of who belongs to what box. I would think there would be no way to operate that kind of business without knowing who owns which boxâŚMaybe Iâm missing something?
HmmmâŚI donât knowâŚlaundering - from what I understand - requires cash to be slipped into legitimate businesses. Banks have very strict reporting requirements regarding lare amounts of cash.
I am not sure how they bill, pay ahead not sure. I know one company advertised no names were used and no records so if you lost your number you were never getting your stuff back. Nothing could be subpoena.
Huh.
Iâd totally lose my numberâŚ
HSBC laundered tons of money. Is likely still doing it.
They just pay the fines.
1 Like
Sure but if your the one monitoring and reporting you can get away with all sorts of crap
Exactly.
Wirecard in Europe. Not a bank but still a multibillion euro company which nobody was allowed to criticize. All because Germans take it personally when their success stories start to crumble
Yea yes i did just watch the documentary and the king of stonks on Netflix 
1 Like
