Blog Details

A Mass Doxxing Of LLCs Puts Financial Freedom And Privacy At Risk

"A Mass Doxxing Of LLCs Puts Financial Freedom And Privacy At Risk"

https://www.therage.co/corporate-transparency-act-privacy-at-risk/

Reading articles of this kind is not only interesting for investors.
The type of regulation reveals the direction of travel.

It is crucial that it is sufficiently clear to the observer that it is about controlling the citizen and less about the stated objectives such as preventing the financing of terrorism, money laundering and the like.

"But in the name of rooting out money laundering and proceeds of crime as they make their way through the US economy, every part-owner of a pet salon, car wash, or handyman service will be required to divulge their identity and ownership percentage to FinCEN – the US' financial intelligence agency established to combat money laundering and terrorist financing. Guilty before proven innocent."

"But with the Corporate Transparency Act in full force, FinCEN will now require that the all beneficial owners be completely doxxed from the outset. And this is the most troubling aspect. Legal firms that help citizens register companies, banks that serve them accounts, and even state authorities that help with licensing will be required to check whether the beneficial owner information has been reported to FinCEN."

 

In addidion: data security cannot be seriously guaranteed. The state is negligent in its handling of the citizen's most valuable asset, their data. It is not only data leaks from databases of private companies that are known; cities, municipalities, universities and authorities are also being hacked.

All these central data stores are central points of failure.

The civil society must ask itself how this control mania of the state can be curbed.

 

 

 

Go back

Comments

Add a comment

* Pflichfelder

Please add 5 and 7.