crime

U.S. tags Vatican, Japan as money laundering concerns

24 Comments

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24 Comments
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Oh dear...I hope this doesn't mean they are going to get stricter about sending money to other countries. I have only had one bad experience so far but it was horrible.

The bank teller wanted to me to give him an exact breakdown of why I was sending money home when I stated it was for my credit card bill and student loan. He wanted to know exactly how much I spent on my credit card, what I bought and how long I will paying my loan, at what percent of interest and how much exactly is taken each month.

Needless to say, I was very angry and explained to him in a very harsh tone, that I had lost my job so bought groceries with my credit card and I don't have rich parents that pay for my education so he could be expecting to see me every month for the next 7 years...and that next time I will bring all the files and we could sit down to examine them but it would probably take over a day. He has never asked me for more information since.

1 ( +2 / -1 )

The Vatican has long been known to be involved in dirty shady deals, this corrupt religous organisation is not squeaky clean like they would have you believe.

The Yakuza are probably the least corrupt of the two actually.

7 ( +12 / -5 )

Why are you sending money overseas?

Yes, they have got stricter. In the past, you could be quite creative with the answers. Some I have used are:

To send money overseas. (Yes, this was accepted.) Because Japanese banks pay virtually no interest. Because I believe Japanese banks are financially insecure. (Used after the bubble burst.)

The last time I went to the Post Office (2,000 instead of 4,000 at the bank. Same exchange rate.) to make an international transfer, I was told I had to fill out a new form because I was using an old one. The new one had an extra box. "Is this money going to North Korea?" Of course, elsewhere it asked which bank and country the money was going to. Nowhere did it ask if the money was going to the U.S.A., but it was transferred by a bank in the U.S. anywhere.

I wonder how ethnic Koreans from the North send money there?

0 ( +0 / -0 )

The U.S. Gov't has No Right to impose it's will on any other state or nation & if they had any sense they would close the border with Mexico Until Their Narco-Terror -War is over.

1 ( +8 / -7 )

This is the US government's payback for the Catholic church's opposition to contraception....

-1 ( +1 / -4 )

I suppose the US State Department doesn't see any hypocrisy in its making such statements. Its "Foreign Aid" to such pillars of democracy as Mubarak's Egypt, Netanyahu's Israel, Assad's Syria, and others is all on the up-and-up then. Oh, no, direct support of tyrannical, yet friendly, dictators is acceptable.

1 ( +4 / -3 )

The fact the the U.S. cited itself as a location of "major concern" for money laundering does lend a little credence to this story. Considering that Japan is a very cash centric society.... money laundering could be quite easy.

5 ( +5 / -0 )

USA should focus on its own problems first before accusing Japan of this crime. Japanese politicians should lodge formal complaint.

-8 ( +2 / -10 )

Japan does have a problem with financial reliability. Negligible penalties do not teach proper behaviour at all. Warnings are indeed in order.

-1 ( +0 / -1 )

I thought JP was just flexing its muscles when I bought a money order for U.S. dollars. The local post office called me to let me know 40,000 yen worth of dollars was being held until a satisfactory reason was stated. I had written "living expenses". The local p.o. wasn't doing the hold and I was given a number to call. The hoity toity woman wanted me to specify exactly what living expenses were. Rent, grocery, credit card bills... She wanted information upon information just like sakurala's bank teller. I want her/his job. Harass the individual sending piddly amounts out of Japan. An American guy I know who has permanent residency status in Japan was incredulous when I told him. He said he always buys dollars and he's never gone through this "interrogation" and he deals in the millions.

1 ( +1 / -0 )

Japan gets its own entire paragraph!

-2 ( +1 / -3 )

The US points its finger while four digits of the hand point back.

0 ( +3 / -3 )

drugs, prostitution, gambling and loan sharking should all be legal. There should be no concern for money laundering.

-1 ( +0 / -1 )

This is an U.S. report for its own policy-making. Just because other countries can read it too does not mean it's for them. Just be glad that the U.S. is making this own report available for everyone to see. They could've made everything confidential, and nobody would've known about it unless WikiLeaks grabs ahold of it.

And yes, the U.S. itself is included in the list:

Major economies, including the U.S., Britain and Japan, are identified as countries of primary concern for money laundering.

So step off your high horses and get your ostrich heads out of the sand and stop pretending that, if ya don't read money laundering happening in your backyard, that it's not happening, heheh.

5 ( +5 / -0 )

If the U.S.A. were a single person, he/she would be in a hospital for the mentally challenged.

This is paranoia.

It's also psychotic.

-7 ( +1 / -8 )

drugs, prostitution, gambling and loan sharking should all be legal. There should be no concern for money laundering.

Legalize drugs: No, because all that does is increase the OD rate worldwide.

Legalize prostitution: No argument there as long as there are mandatory weekly/monthly (whatever makes the most sense) health check-ups included. The "world's oldest profession" provides enough income that government-subsidized health checks wouldn't be necessary. Make the pros pay for their own health checks.

Legalize gambling: It already IS legal in many places - even in the overly Puritanical United States.

Legalize loan sharking: No. The interest rates involved in loan shark loans virtually guarantees you can never finish paying back the loan. This perpetual debt drives people to doing ANYTHING to get out of the debt - including crime.

-1 ( +1 / -2 )

To gaijins , just follow and answer the questions and things will run smoothly. No need to be angry or hysterical. That's Japanese way. I have been sending money too from Japan and I just answer their questions. Allowances for kids living and schooling expenses. One time I I asked my sister to transfer some of money to my Japan Bank account which is quite big and they asked me why is my sister sending me the hugh amount. I said I am going to buy a mansion for my family in Japan. I did sign some papers and they zeroz my passport and Alien certificate and that's all. My money was deposited in my Japan Bank account. I noticed the problem with some of us Gaijins, we always compare Japan system to our country's system.

-2 ( +2 / -4 )

Since when is using cash for transactions "suspicious"? I bought my car with cash, and pay with cash as often as possible. Why? It's my CHOICE, and there's no rational reason to use a credit card. Privacy is still a basic right.

1 ( +2 / -1 )

Bajhista: I am usually very calm. I am not an angry person and usually take things as they come. I am not one of those lunatics that shouts when I am asked to show a piece of ID at a hotel (passport or registration card). I didn't even get angry when I had to list all the countries I have been in and out of, along with the dates, to get my driver's lisence which took me about 2 hours.

However, when I wanted to send 60,000 yen to my Canadian bank account which has my name on it, I didn't expect to have to give a breakdown for every yen which I was sending...and yes, they did want me to be that specific. They had never been that specific before so I was shocked. I answered their general questions calmly but when they asked how I could spend 35,000 on my credit card in a month and wanted to know what stores I shopped at, what days and how much I spent and on what goods, well ya, I guess you can say I lost my chi and showed my frustrated self. I didn't shout though, and tried to keep it between the teller and I because no one else needed to feel my frustration.

0 ( +0 / -0 )

Oh, and they were at one point saying that they wouldn't send my cash until all details could be confirmed. If they delayed my transfer I would have been late with my bills which also intensified my urge to get it done immediately.

But I am happy to hear that others, who send much more than a measely 60, 000 in one month, never have problems.

0 ( +0 / -0 )

Why not open a CitiBank account peeps? I transfer money back and forth between dollars and yen all the time. 3 Years ago I had $185,000 US dollars sent to my Citi account and I bought yen with much of it for a mansion loan pay off. No questions asked. I am really surprised by what I read above.

-1 ( +0 / -1 )

Use golloyds for money transfer. All you I set up the transfer account golloyds acts as a middle man. You pay them 2000 yen as a fee for transfer and can transfer money via ATM furikomi. I have never had a problem money gets transferred by the next day ita in dollars in my American bank account.

I payed at least 7000 yen in fee at the bank......

I have never been given the 3rd degree and I send around 1000 dollars a month...

0 ( +0 / -0 )

Japangal: I would love to be able to open up a citibank account...but the nearest branch is at least an hour away and there are NO citibank ATMs in my city and perhaps even in my prefecture. I use the post office bank because it is relatively cheap, about 2,400 yen, and everywhere. Also since I had my firm discussion with them, I haven't had a problem :P

0 ( +0 / -0 )

lol US is the biggest money launderer. they printed billions and shipped the currency to iraq all went missing. what happend to that? most tax evaders the 1% have offshore accounts so they are all money launderes?

-1 ( +1 / -2 )

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