Tighter banking in Florida

jetset

RIP Brian
Joined
Feb 22, 2001
Location
Earth
FLORIDA BANKS TO MONITOR I-GAMBLING

Even small international wire transfers to be scrutinised


The Orlando Business Journal reports that federal authorities have asked Florida banks to pay attention to all Internet gambling and small international wire transfers in an attempt to cut down on alleged money laundering.

According to the report, Internet gambling and even the smallest international wire transfers are about to make the list of transactions Central Florida banks will monitor under anti-money laundering laws.

Regulators plan to add the first of the new requirements this year and will add the second by early 2008, says Clemente Vazquez-Bello, a partner in the Miami office of law firm Gunster, Yoakley & Stewart.
 

Professor

Dormant account
Joined
Oct 28, 2004
Location
DontArrestMe USA
Oh Gee thanks... Our taxes and property insurance rates have gone through the roof and now this! The Carolinas or Georgia are looking better every day.
 

Professor

Dormant account
Joined
Oct 28, 2004
Location
DontArrestMe USA
Jetset was it the Orlando Business Journal reporting this? When was the report? I wanted to read more and have combed the site here and cant find it:

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jetset

RIP Brian
Joined
Feb 22, 2001
Location
Earth
Last Friday, I believe but I can't be sure - we're processing quite a lot of stuff and this has already gone through our system and been deleted. As a last resort you could try the legal guy mentioned in the report, Prof.

Clemente Vazquez-Bello, a partner in the Miami office of law firm Gunster, Yoakley & Stewart.
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
FLORIDA BANKS TO MONITOR I-GAMBLING

Even small international wire transfers to be scrutinised


The Orlando Business Journal reports that federal authorities have asked Florida banks to pay attention to all Internet gambling and small international wire transfers in an attempt to cut down on alleged money laundering.

According to the report, Internet gambling and even the smallest international wire transfers are about to make the list of transactions Central Florida banks will monitor under anti-money laundering laws.
"
Regulators plan to add the first of the new requirements this year and will add the second by early 2008, says Clemente Vazquez-Bello, a partner in the Miami office of law firm Gunster, Yoakley & Stewart.

I find all this rather sinister. The UIGEA in infancy...

"federal authorities have asked Florida banks to pay attention to all Internet gambling" : ok... then do what? turn the citizen over to the Feds? note the sender/receiver of said transaction for future blackmail/extortion (i/e: the NETeller founders)?

"Internet gambling and even the smallest international wire transfers are about to make the list of transactions Central Florida banks will monitor under anti-money laundering laws" : yes? they 'monitor' transactions and then what? How do they know what is for gambling and what isn't? I guess they didn't want to spook 'ordinary' citizens by letting them know that the bank is going to be keeping a watchful eye on ALL transactions. Oh... and... just what anti-money laundering law is this? Anything we buy or purchase outside of the U.S. is laundering money?
 

clj7221

Dormant account
Joined
Dec 10, 2003
Location
U.S.A.
Many people from Florida have been moving to the Carolinas. I agree Carolina is sounding better every day..


Oh Gee thanks... Our taxes and property insurance rates have gone through the roof and now this! The Carolinas or Georgia are looking better every day.
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
Am I wrong in assuming that if Florida banks have been put on 'alert' for gaming transactions, that other banks in other states have also received the same notice from the Feds?
 

Professor

Dormant account
Joined
Oct 28, 2004
Location
DontArrestMe USA
Well, the hurricanes that hit us a few years back caused our homeowners insurance rates to sky rocket. I pay over $11K per year in insurance on our two homes. Property taxes followed suit and I pay an additional $17K per year in those taxes. Guess what... The utilities decided they wanted a few more bucks too and rates went way up. I now pay what I consider an obscene monthly water bill of around $480 dollars! Electric tacks on another $750 - $900 per month. Gas around $120. Then you have to add in housing costs. In my area even a modest 1700 square ft home is over $300K. But those tend to be investors/rental homes. Real houses that us locals actually live in start around $600K, so you get the idea of what it costs to live in the "Sunshine State".

The Carolinas and Georgia are a steal in comparison. Floridians can sell their homes here and buy a home twice the size with much more property and still have a much lower monthly cost to live.
 

GrandMaster

Dormant account
Joined
Jan 21, 2004
Location
UK
How big are those houses? The only person with such big utility bills lives in a 10,000 sq ft mansion.
 

Professor

Dormant account
Joined
Oct 28, 2004
Location
DontArrestMe USA
Yeah thats what I thought too. Trust me while my house is a nice size its hardly a 10,000 sq ft mansion. I just get charged like it is.
 

jetset

RIP Brian
Joined
Feb 22, 2001
Location
Earth
My word, and I thought I was being gouged with excessive national, provincial, municipal and utilities taxation....this has made me realise there are worse places to be!
 

Casinomeister

Forum Cheermeister
Staff member
Joined
Jun 30, 1998
Location
Bierland
If I had a choice, I'd check out the Georgian coastline :D Nice empty beaches, warm water - good surf. :thumbsup:
 

Professor

Dormant account
Joined
Oct 28, 2004
Location
DontArrestMe USA
Yep we have been scouting the area. I like Savannah and Tiby Island area...
 
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