Ninjastic
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Board Service Discussion
Re: [WARNING] Gross incompetence by MtGox in handling sensitive AML info.
by
davout
on 17/10/2012, 21:05:05 UTC
Quote from: Yankee (BitInstant) on October 17, 2012, 06:44:23 PM
Quote from: davout on October 17, 2012, 06:27:19 PM
Quote from: Yankee (BitInstant) on October 17, 2012, 03:28:27 PM
Also, the AML rules are not their own, they have to follow the standard of both Japan and the USA (Japan being much more strict) but it allows them to stay operationally legal in both jurisdictions.
Financial institutions have to comply with the AML regulations through the implementation of KYC procedures.
mtgox is a financial institution only in the imagination of mark karpeles.

Incorrect.

MtGox is a financial institution.
Even *they* wouldn't dare to make such a claim.

I can't even find their little Delaware incorporated front (Mutum Sigillum) in the US MSB directory (http://www.fincen.gov/financial_institutions/msb/msbstateselector.html)

So if you have information that we don't have feel free to share, and feel free to check the facts.