195 karma · joined May 6, 2015
If that is close to explicitly as you have stated then either 1) The senior bank people you talked to are lying to you 2) the senior bank people you talked to really don't know anything about PSD2 3) They mistated to you how PSD2 changes will affect this 4) You misunderstood what they mentioned about PSD2 changes.
If a bank mentions in its clauses as per PSD2, that only authorized persons/firms are use an API and their acccess, they are authorized to negate any liability if it was given/accessed by an unauthorized party. Banks are required to make API's available (not same as accessible) to any SaaS or other developer as long as it is authorized by the bank.
Rather than relying on hearsay or in conversation on crucial regulatory changes , might I suggest this: https://www.createspace.com/5772402
What an obvious realization that I hadn't thought about, lol. I guess I could wait, but I am thinking of pushing him (lol) to developing interests for possible occupations that I know that can be reliably done independently where verbal expression of language is not primarily essential, but not manual labor. I can wait too and see if he bites or drop hints to see whether he develops slow interest.
It's not easy to understand the vague and imprecise world of money laundering because the laws were written to be broad.
This is not the first time stings are carried out, this is also not the first time a prosecution fails at a case that by all indications of the allegation should have been easy to close.
the early adopter's tradeoff for all tech i suppose.
it's not what's happening here. i haven't seen where that was implied either.
>it seems that in this case they were trying to entice the guy with stolen credit cards. As that didn't work, they tried switching to money laundering.
no, they didn't entice him stolen credit cards, they, undercover, purported the sale of bitcoins/cash to him for the purpose of laundering the proceeds of the crime ( stolen credit card). Therefore, if he engaged in that sale knowingly, he willingly engaged in the laundering of proceeds of crime, i.e: money laundering. What they were weak or unable to demonstrate substantially was that his transactions thus far before the sting, were largely derived in the operations of aiding and abetting the laundering of the proceeds of crime.
I happen to know what money laundering is, being a certified money laundering specialist (CAMS) and all, and what he allegedly engaged in was money laundering. However, the judge was being completely fair in her statement as the prosecution did a lot of flippity flop and kept switching back the defendant's position from what is a business and a payment instrument seller. This was a relatively easy case to win for the prosecution, but pretty astounding as to how a very ill prepared prosecution and well prepared defense can go a long way.