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To: Nick Danger
Most of this was probably legit.
The remittance business is worth some $150Billion globally. Even the US Post office is involved with their program called "Dinero Seguro". They primarily are sending remittances into the Latin American/Mexican corridor.

I am not in a hurry to convict anyone of carrying money. Our Government wants us all to open our wallets and show our money. This has little to do with terrorism, but lots to do with control, taxation and revenue.

This is getting quite ridiculous. In Connecticut some years ago, they arrested two car salesmen for selling cars for cash.
Excuse me, but on my banknotes, it does say "legal tender". These two poor souls got JAIL TIME for selling two cars to people who turned out to be drug dealers. Our wise government decided that they should have known that these guys were drug dealers and not sold them cars. What about the guy at the 7/11 who sold them shaving cream? Where do we draw the line?

Maybe this guy did send some money for some nasty guys, but cracking down on everyone who handles cash is not the way to fight terrorism.

10 posted on 04/20/2005 12:04:28 AM PDT by Bon mots
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To: Bon mots

I wouldn't judge this guy on the money transfer business alone, because its a legal and sometimes necessary means of moving money around the globe. If he violated his reporting requirements (which I believe are triggered at $800 per transfer these days), that's another story.

As an example, the Vietnamese/American community sent an estimated $2 BILLION back to their families prior to Tet (New Year) 2003. That's for Tet only, and doesn't include the remainder of the year.

Just like Afghanistan and Vietnam, much of the global remittance business is due to poor or nonexistant banking services in the destination countries. Even in the U.S. its a huge and overpriced hassle to issue a wire transfer.

Whereas I know for a fact that a sub-$1,000 transfer from Virginia to Vietnam can be delivered to the recipient in 24 to 72 hours, in local or U.S. currency or even (for larger but still legal transfers) in 24K gold bars. That's delivery to the recipient's doorstep, with a signed receipt faxed back to the sender in the U.S. that very same day. Sometimes (but not often) the whole process happens in less than 24 hours, round trip. That's faster than the setup and delivery for a normal wire transfer.


13 posted on 04/21/2005 12:19:41 AM PDT by angkor
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