A Swiss company that sells economic citizenships is now advertising online that it will accept your Bitcoin, and then secure one of those prized Citizenship by investment (CBI/CIP) passports so necessary in these visa-obsessed times. Since all five of the East Caribbean states that offer CBI require US Dollars (USD$) for payment of those six-figure treasures, this means that the Swiss company intends to convert your soon-to-be untraceable cyber currency into Dollars. What's wrong with this picture? Are any other CBI consultancies doing this covertly?
I see nothing on the company's website about how much Due Diligence, Know your Client, Source of Funds & Source of Wealth will be done internally. I am certain that the world's active duty money launderers are just rubbing their hands together with delight, because this Swiss company will be fronting nicely for their criminal clients' dirty money.
Where are Swiss law enforcement agencies in all this? We are wondering just how many months they will take to investigate, analyze, and then shut down this obvious Laundrymans' friend, lest the Swiss reputation for facilitating money laundering be further tarnished by this very obvious effort to defeat anti-money laundering efforts of the world's financial institutions.
It is curious that, precisely at a time when American financial institutions that bank CBI deposits for those same five East Caribbean CBI-selling countries have come under the microscope for allowing dodgy money to pass through their portals, and a U.S. District Court in Florida has approved the service of subpoenas against three of the largest ones. See IN RE APPLICATION FOR AUTHORIZATION TO CONDUCT DISCOVERY FOR USE IN FOREIGN PROCEEDINGS, PURSUANT TO 28 U.S.C. §1782, Case No.: 24-CV-20492-RKA ( S.D. FL). Every compliance officer at American financial institutions that offer correspondent accounts needs to read that Order today and share it with bank cousel.
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