12-19-2021, 02:44 PM
If I commit fraud, I am sent to prison. If a Bank commits fraud, where are they sent?
<!-- SC_OFF --><div class="md"><p>This frankly frustrates me to no end. This is proof that there is no regulation or “rule of law” to follow when it comes to our traditional financial system. </p> <p>NatWest, one the UK’s biggest banks was just fined $349M after assisting to launder over $483 Million with a single client. No jail time, no public apology, no court hearing and certainly no punishment as that is a drop in the ocean compared to their annual revenues. </p> <p>JP Morgan was also just fined $200M for illegally conducting official business via end to end encrypted apps thus evading audits and compliance. </p> <p>Now as an average citizen, how am I chased to report every single dime I make and forced to meticulously track my measly Crypto portfolio? Is this fair and right? How can I accept any form of Crypto regulation by the powers at be when they can’t even abide by their own laws? </p> <p>This is insane.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Snoo65810"> /u/Snoo65810 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rjejz1/if_i_commit_fraud_i_am_sent_to_prison_if_a_bank/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rjejz1/if_i_commit_fraud_i_am_sent_to_prison_if_a_bank/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This frankly frustrates me to no end. This is proof that there is no regulation or “rule of law” to follow when it comes to our traditional financial system. </p> <p>NatWest, one the UK’s biggest banks was just fined $349M after assisting to launder over $483 Million with a single client. No jail time, no public apology, no court hearing and certainly no punishment as that is a drop in the ocean compared to their annual revenues. </p> <p>JP Morgan was also just fined $200M for illegally conducting official business via end to end encrypted apps thus evading audits and compliance. </p> <p>Now as an average citizen, how am I chased to report every single dime I make and forced to meticulously track my measly Crypto portfolio? Is this fair and right? How can I accept any form of Crypto regulation by the powers at be when they can’t even abide by their own laws? </p> <p>This is insane.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Snoo65810"> /u/Snoo65810 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rjejz1/if_i_commit_fraud_i_am_sent_to_prison_if_a_bank/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rjejz1/if_i_commit_fraud_i_am_sent_to_prison_if_a_bank/">[comments]</a></span>Kind Regards R