PayPal To Pay $7.7 Million For Sanctions Violations

jfruh writes PayPal may not be a bank, but it's still legally required to follow regulations on transferring money — but the company has admitted to a number of violations, including allowing transfers to an individual specifically sanctioned by the U.S. State Department for helping proliferate nuclear weapons. From Ars: "On Wednesday afternoon, PayPal reached a settlement with the US Treasury Department, agreeing that it would pay $7.7 million for allegedly processing payments to people in countries under sanction as well as to a man the US has listed as involved in the nuclear weapons black market. The company neither confirmed nor denied the allegations, but it voluntarily handed over its transaction data to the US Department of Treasury’s Office of Foreign Assets Control (OFAC)."

Comments

Democracy in action

[Dunbal]

That's the nice thing about lists. The government says you're on it, and that's that. No proof required. No means to defend yourself or prove your innocence. Nope, you're on the list, and now we're going to bully everyone and cut you out of all the conveniences of modern life. Those who don't co-operate, well, you wouldn't want to be "aiding a terrorist" now would you?

The "free" world has gone insane, and I despair when I see a whole new generation growing up that doesn't seem to have a problem at all with this modus operandi.