What happens when banks in the US close MSB accounts? It is a losing proposition for the government. This is how money then gets transported and lost on the other side in the noise.
Tracking it also becomes an issue.
The fundamental issue with money is that it flows like water. If you place hurdles or try to establish breakers, it will flow around it – find the path of least resistance which in plain payments & banking speak means, money will go underground.
Banks are closing the accounts of customers they fear may be up to no good, evicting from the financial system the innocent as well as those the U.S. government most wants to watch.
This page was last updated on March 30, 2016.