Re: How about Cardplayer getting into the processing business ??
[ QUOTE ]
My information is from finextra which has a vested interest here and European based banks do a significant portion of all SWIFT traffic.
[/ QUOTE ]
Good catch. My description was a little misleading. Bank wires do travel on a network that is less willing to participate in the DOJ's witch hunt. That being said, a US citizen would need to initiate a transfer via a US bank (unless they had a foreign bank account in which case the argument is moot). If the DOJ supplies a list of recipient accounts that US banks should ban from transferring funds to it has the same effect as an ACH/EFT blockage.
And the DOJ could be sneaky about it and put eWallets and gaming companies on the same list as known money laundering accounts. The bank wouldn't even know why it was supposed to block the transactions other than the account turned up on a list.
And if we want to get real, real technical MoneyGram and Western Union are bank wires as well. They're anonymous bank wires though.
|