I didn't read the article but I do agree with you completely. I've noticed this repeatedly where if I've to move a small sum of money in/out of my country I need to fill 20 letters and 50 if it's a business. But if I have to move say $100MM? Banks will roll out a red carpet, no questions asked.
If it's left to the banks they are all too happy to serve anyone with money, we have quite a few examples[1] of that. Regulators want banks make examples of anyone which banks do by harassing small businesses which won't have monetary impact to banks' bottomline. My gut feeling is even regulators don't care much, they just want to pretend to the voters that they are trying to do something, anything.
> if I have to move say $100MM? Banks will roll out a red carpet, no questions asked
What are you basing this on? Every nine-figure wire I've seen issued was far more involved to get authorised than anything sub-million. (For obvious fucking reasons.)
From personal experience trying to open a crypto related bank account, one of the most important requirements was to deposit a substantial amount of money in the account.
If it's left to the banks they are all too happy to serve anyone with money, we have quite a few examples[1] of that. Regulators want banks make examples of anyone which banks do by harassing small businesses which won't have monetary impact to banks' bottomline. My gut feeling is even regulators don't care much, they just want to pretend to the voters that they are trying to do something, anything.
[1] https://www.icij.org/investigations/fincen-files/hsbc-moved-...
[1] https://en.wikipedia.org/wiki/World_Jewish_Congress_lawsuit_...