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0 sats \ 1 reply \ @SaloonCat 24 Apr \ parent \ on: Anonymous vs Public Bitcoiners bitcoin_beginners
Good question. In fact, that would be considered suspicious:
the way the client comes to the business affects the risk for:
is the client a company, partnership, or trust; are there complex or opaque business ownership structures in place? That is, any client which is a legal person, owned by another legal person. For example, a limited company owned by a beneficial owner indirectly, through another legal entity
The guidance then instructs agents as follows:
identifying all beneficial owners of the customer and taking reasonable measures to verify their identity to satisfy yourself that you know who they are
And then you're back to square one, except with a bigger workload. There seems to be no way to mitigate the threat, although I haven't taken legal advice yet.
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0 sats \ 0 replies \ @SaloonCat 24 Apr
I'll just add this to show how direct the threat can be.
Fortunately, I'm not looking in Northern Ireland. If I were, I'd be looking in a place where the government is led by the political wing of the still-intact IRA.
On 20 December 2004, a total of £26.5 million in cash was stolen from the headquarters of Northern Bank on Donegall Square West in Belfast, Northern Ireland. Having taken family members of two bank officials hostage, an armed gang forced the workers to help them steal used and unused pound sterling banknotes.
https://en.wikipedia.org/wiki/Northern_Bank_robbery
Nobody was brought to justice, but it's widely acknowledged to be the work of the IRA. Extortion and racketeering continue to be part of the fabric of life there. They are active in the property industry as in all others. And you're forced, by law, to reveal to them your entire financial situation.
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