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PayPal Freezes the Assets of Wikileaks.org

Posted by kdawson on from the thought-money-was-speech dept.

matsh sends word that PayPal has frozen the assets of wikileaks.org. From their Web site: "Paypal has as of 23rd of January 2010 frozen WikiLeaks assets. This is the second time that this happens. The last time we struggled for more than half a year to resolve this issue. By working with the respected and recognized German foundation Wau Holland Stiftung we tried to avoid this from happening again — apparently without avail." The submitter adds: "Hopefully we can pressure PayPal to resolve this quickly, since this seems like a dangerous political decision."

9 of 403 comments (clear)

  1. Unsurprising by LightPhoenix7 · · Score: 5, Insightful

    This has been going on for many years, with many different groups. Until people stop using Paypal, or some sort of oversight or audit is performed, it will continue to happen. Mayhap Wikileaks should try and dig up information on Paypal.

    1. Re:Unsurprising by rolfwind · · Score: 5, Insightful

      Until people stop using Paypal, or some sort of oversight or audit is performed, it will continue to happen.

      The Government has to step up and declare Paypal a bank. Banks can't take or freeze your money simply because they don't like what you do (which Paypal often does) - only the government can do that if you are in breach of laws.

      Now that the Government found their balls to stand up to China for once, maybe it can do the same with corporations.

    2. Re:Unsurprising by drinkypoo · · Score: 5, Insightful

      Now that the Government found their balls to stand up to China for once, maybe it can do the same with corporations.

      Fail, fail. The government is standing up to China on behalf of a corporation. If our government actually believed in human rights, we wouldn't favor trade with China above all other nations.

      --
      "You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
    3. Re:Unsurprising by Minwee · · Score: 5, Insightful

      It's actually worse than that... they can take and freeze your money because they don't like what one of your business partners does...

      I think you're being overly generous. PayPal can take and freeze your money because they feel like it.

    4. Re:Unsurprising by Anonymous Coward · · Score: 5, Insightful

      It's actually worse than that... they (banks) can take and freeze your money because they don't like what one of your business partners does...

      Or they can simply hold the country's economy for ransom, take your money by government payout, issue themselves enormous bonuses, lend nothing and tell you to go fuck yourselves.

      At least the French knew when it was time for revolution.

    5. Re:Unsurprising by GaryOlson · · Score: 5, Insightful
      Although this may be interesting, a little financial homework is required.
      wmtransfer.com domain is registered by SMP Bank, Moscow. From Moody's bank rating service,

      ...SMP Bank's currently limited franchise (which is in Moody's view to a substantial extent reliant on the bank's shareholders), high credit risk concentrations, low diversification of the bank's funding base and potentially volatile profitability

      .

      AS “SMP Bank” (until 17 June 2008 AS “Multibanka” – the Bank) was incorporated in the Republic of Latvia as a joint stock company “Multibanka” in 1994, in Riga and is licensed as a bank offering a wide range of financial services to enterprises and individuals. The address of the Bank’s registered office is Elizabetes iela 57, Riga, Latvia. The Bank has a branch in Liepaja and 12 offices in Riga, an office in Ventspils and Olaine, two offices in Daugavpils and representative offices in Moscow

      Once you read the financial statement, disbursement of profits, and this web of bank ownership, do you really want to use wmtranser.com?

      --
      Every mans' island needs an ocean; choose your ocean carefully.
  2. maybe I'm missing something but... by ravenspear · · Score: 5, Insightful

    If your organization used Paypal and they froze your assets once, and you "struggled for more than half a year" to resolve it, why the fuck would you STILL be using Paypal?

  3. Re:PayPal Regulation? by MickyTheIdiot · · Score: 5, Insightful

    Yes. It is too much. As of Thursday our government is owned by the huge corporations. No one there is going to care if individuals are treated correctly or even if corps follow through their contracts.

  4. Don't use PayPal by v(*_*)vvvv · · Score: 5, Insightful

    This is really the fault of the person who decided to keep their assets in a PayPal account. And this isn't the first time? Well, they just don't learn do they.

    PayPal can freeze accounts for any number of reasons, of which very few have to do with the owner of the account. If someone pays you with a stolen card or from an account that is suspected to have been compromised, that can trigger a freeze. Their support is notoriously bad, and their instructions for re-enabling your account are always overcomplicated.

    Let this be a lesson to anyone who receives money with PayPal.

    Money received => withdraw immediately

    NEVER HOLD A PAYPAL BALANCE.

    Always be ready to redirect payments to a backup account.