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Reminder: Reject the Financial Action Task Force



The below is a direct excerpt from Marty’s Bent Issue #1111: “Reminder: Reject the Financial Action Task Force.” Sign up here for the newsletter. Look at this motherfucker who looks like the stock image and then look in the mirror and try to convince yourself that you genuinely believe he is the ultimate financial crime stopper. The lord and savior of those subject to the ills of money laundering. Ready to laugh? This is Marcus Pleyer, the chairman of the Financial Action Task Force – an unelected bureaucratic entity created in 1989 charged with reducing financial crime for the countries claiming to be in the G7. He is the supposed man with a plan to stop financial criminals from harming you. At least that’s what the FATF claims is their purpose and the raison d’être for our bald pal Marcus to have a job. In reality, the FATF serves a much more nefarious purpose. They are intended to recommend “guidelines” to G7 governments in line with what they consider to be the most necessary steps countries can take to reduce the chances of their citizens becoming victims of financial crimes. In practice, however, they are there to make the life of any organization seeking to provide financial services or utilities as difficult as possible for individuals living in G7 countries and associated corrupt governments. Their job is to ensure that the established power players do not face serious competition, while making an individual’s life increasingly difficult and difficult to operate within the economy while preserving their privacy and dignity. They are the Eye of Sauron in the real world as we know it today. This morning I was asked by a journalist to give a short comment on the “crypto industry’s efforts to comply with the FATF’s travel rule”. A rule requiring financial institutions to collect and share intimate personally identifiable information about each party involved on both sides of a transaction is being facilitated by a trusted financial institution, which is beginning to include “crypto” providers. For today’s rag, I thought I’d share my response: “The FATF is a supranational bureaucratic regulatory body that no one voted for and no one asked for, but for some reason they have an inordinate amount of influence over financial regulation around the world Historically, governments have had FATF’s Orwellian regulatory guidelines and implemented them with little reluctance Slowly decreasing the privacy of their voters with stricter and stricter KYC/AML regulation that has proved totally ineffective against preventing financial crimes. Jeffrey Epstein was able to hold a large account with Deutsche Bank and launder hundreds of thousands of dollars after being released from prison for sexual harassment and abusing minors. Motivated criminals will always find ways to commit their crimes. cumbersome data collection requirements The notices imposed by the FATF on financial institutions worldwide do nothing but expose innocent, law-abiding individuals to the risk of identity theft and physical harm, as more and more entities are forced to collect and store (usually insecurely) their personal identification information. There are hundreds of millions of people exposed to this unnecessary risk. Since it is abundantly clear that these guidelines have proved ineffective in preventing crime, and since the inception of the Bank Secrecy Act, which gave rise to extensive civil liberties violations of this kind, it must be concluded that the regulatory guidelines do not really serve their stated purpose, but are used as a means to gain more control over individuals and limit freedoms in the digital age. Anyone in the “crypto” industry eager to comply with FATF guidelines should take a moment to use some introspection and ask themselves why they are here in the first place. Bitcoin was created to completely eradicate this kind of demonic control. Those who tell themselves that they are joining Bitcoin’s mission should reject FATF guidelines and engage in civil and corporate disobedience. Enough is enough. Never again kneel to tyranny.” Are you ready to disobey these ineffective and deceitful tyrants? Your Uncle Marty sure is.
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