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- Jul 31, 2021
@DiscoRodeo Regarding your two points, since I'm qualified to comment further:
a. is mostly correct. Granny Smith down the street with a savings account, basic personal accounts etc. will have a screening done at account opening and 99% of the time back office staff won't look at them any further. However banks categorize their customers based on risk they present to the bank and do advanced or periodic screenings as needed. For example cash-intensive businesses, politically exposed persons (PEPs), or... people who have large or frequent transactions to or from a foreign country. Most banks use software that automatically screens their accounts for transactions that indicate a customer belongs to a high-risk type, and from there they can decide to do deeper dives or annual reviews as needed. It's almost certain Near has eyes on his accounts if he moved himself and his funds overseas, and it's also likely he's been put on a "high risk list" of some kind that means his relationship will get an annual review, which includes looking at all account and transactions as well as media searches via credit agencies, Google, Facebook, etc.
b. is likely, I can't speak to the banking ecosystem outside the US in any significant detail. However the USA has a very long arm when it comes to finance across the globe, with legislation such as the USA PATRIOT Act and Bank Secrecy Act we have a smorgasbord of legal precedents for monitoring the activities of individuals worldwide. International banks need to comply with our financial laws to do business with us, and a huge amount of global financial information and funds goes through networks like SWIFT or the Fed. For now the US probably doesn't give a shit about Near, but if he starts becoming a "person of interest" either as subject of a criminal suit or the faintest possibility of terrorist financing, anything is on the table when it comes to shutting him out of the global financial network.
a. is mostly correct. Granny Smith down the street with a savings account, basic personal accounts etc. will have a screening done at account opening and 99% of the time back office staff won't look at them any further. However banks categorize their customers based on risk they present to the bank and do advanced or periodic screenings as needed. For example cash-intensive businesses, politically exposed persons (PEPs), or... people who have large or frequent transactions to or from a foreign country. Most banks use software that automatically screens their accounts for transactions that indicate a customer belongs to a high-risk type, and from there they can decide to do deeper dives or annual reviews as needed. It's almost certain Near has eyes on his accounts if he moved himself and his funds overseas, and it's also likely he's been put on a "high risk list" of some kind that means his relationship will get an annual review, which includes looking at all account and transactions as well as media searches via credit agencies, Google, Facebook, etc.
b. is likely, I can't speak to the banking ecosystem outside the US in any significant detail. However the USA has a very long arm when it comes to finance across the globe, with legislation such as the USA PATRIOT Act and Bank Secrecy Act we have a smorgasbord of legal precedents for monitoring the activities of individuals worldwide. International banks need to comply with our financial laws to do business with us, and a huge amount of global financial information and funds goes through networks like SWIFT or the Fed. For now the US probably doesn't give a shit about Near, but if he starts becoming a "person of interest" either as subject of a criminal suit or the faintest possibility of terrorist financing, anything is on the table when it comes to shutting him out of the global financial network.