Author: appleeater

BJ urges Spain to protect rights of Chinese nationals [Copy link] 中文

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Post time 2019-2-21 01:32:34 |Display all floors
Your attempt at offering an explanation here is obviously not the best in the world.

Money-laundering exists with criminals from every corner of the globe, but the operation of having thousands of accounts frozen by the Spanish bank -- mainly those of many ordinary Chinese nationals including students -- is an entirely different cup of tea.

That smacks of overuse of financial restrictions using legal parlance as a figleaf.

If thousands of ordinary people dare to demonstrate in public without fear of being arrested for suspected money-laundering, that would indicate that the bank's indiscriminate closing all accounts have unnecessarily affected the livelihood of the majority of innocent victims.  

In the least, the bank should be held responsible for not alerting its customers to the possibility of having their accounts frozen if certain evidentiary credentials are not forthcoming within a certain deadline date.

These credentials might include the source of cash funds -- Chinese people are accustomed to carrying cash to foreign countries especially in cases where the language used in those countries is not English and they fear the possibility of miscommunication affecting the availability of those funds once they are deposited in the form of a check issued by a Chinese bank.

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Post time 2019-2-21 01:47:56 |Display all floors
Saul Post time: 2019-2-21 00:11
In a statement, it said it had frozen accounts to comply with measures to fight money-laundering, ad ...

The scale of the account-freezing operation affecting thousands of bank customers point to reasons other than money-laundering.

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Post time 2019-2-21 03:55:43 |Display all floors
Saul Post time: 2019-2-21 00:11
In a statement, it said it had frozen accounts to comply with measures to fight money-laundering, ad ...

not only Chinese accounts were frozen, but accounts of people from other countries too.
Spain was only implementing money laundering regulations and the account holders were given ample time to get their accounts in order before being frozen, having been requested to bring specific documentation to the bank.

Surely no-one would advocate banks accomodating illegal or fradulent financial transactions.
this comes down to the account holder being responsible for ensuring that they comply with local regulations.
While in China, the criteria for foreign bank account holders changed, including a restriction on the amount foreingers could withdraw at any one time.
And guess what?
the foreigners acquainted themselves with the changes and adapted accordingly.
I certainly did not hear any cries of 'racism' when this happened, even when it proved very inconveneint.

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Post time 2019-2-21 11:46:52 |Display all floors
BlondeAmber Post time: 2019-2-21 03:55
not only Chinese accounts were frozen, but accounts of people from other countries too.
Spain was  ...
Spain was only implementing money laundering regulations and the account holders were given ample time to get their accounts in order before being frozen, having been requested to bring specific documentation to the bank.


This is a groundless accusation against the account holders, and is patently your own prejudicial explanation casting the Chinese nationals in a bad light.

If the account holders were notified before their accounts were frozen then why would they be holding demonstrations in the streets -- Chinese people seldom hold such demonstrations unless they feel their vital interests are unjustifiably harmed.

You think they are dumb or what?  What you are saying here is that the Spanish bank notified them saying hey guys better show some proof that your cash deposits are from legitimate sources or else we shall freeze your accounts in a week.

The burden of proof should be on the bank itself to show that some of the cash deposits might be big enough to be indicative of money-laundering and the bank should provide proof of their suspicion instead of indiscriminately freezing the accounts of thousands of depositors including students.

The example you are invoking in regards to the changed criteria in the amount that can be withdrawn from a Chinese bank according to new regulations is laughably irrelevant -- restricting the amount that can be withdrawn at any one time is common practice around the world.  

You can't just deposit 10,000 on Day One and withdraw 9,999 the next day.  That's for the individual's own protection, and is miles apart from having your account frozen by the bank.  

The fact that the Chinese government has expressed concern over the incident through official channels shows that it has already procured details of the rationale for the bank to freeze those thousands of accounts from the Chinese embassy in Madrid, or else it would not have issued a call to the Spanish government to protect the interests of Chinese nationals.  

What? -- you think the Chinese government is trying to protect money launderers by issuing such a call?  Of course it has already done its own investigation and determined that the majority of the cash-depositing Chinese nationals are innocent victims of the move by the bank.

So conceivably your analysis leaves much to be desired in terms of probable cause and justification for the bank's action in freezing thousands of accounts.  

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Post time 2019-2-21 16:56:25 |Display all floors

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Post time 2019-2-21 21:37:33 |Display all floors
BlondeAmber Post time: 2019-2-20 14:55
not only Chinese accounts were frozen, but accounts of people from other countries too.
Spain was  ...

a restriction on the amount foreingers could withdraw at any one time.
Sounds good, and Chinese can't take too much money out of the Country so they use illegal means to do so.

So really it is the CPC who is at fault, let your citizens remove as much money as they like.
Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured. Mark Twain

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Post time 2019-2-23 06:17:44 |Display all floors




Speaking of which, remember the little known fact that it was Spain that invaded and colonized South America, Central America, all the way to Mexico for centuries.


  It is Spain that must make an intiative to decolonize those lands, and return them to rightful owners native indigenous people of the lands.




Here's some more interesting revealing hidden truth,




Continent of America is NOT a New World!
https://blog.chinadaily.com.cn/forum.php?mod=viewthread&tid=820652&fromuid=761437





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