Colombian Government Might Take Unused Funds From Bank Accounts Inactive for ...

Colombian Government Might Take Unused Funds From Bank Accounts Inactive for ...

The budget law for the next year, which was recently approved by the Colombian representative’s chamber, includes a controversial article that allows the state to confiscate a bank customer’s funds to be used for budgetary purposes. Under certain circumstances defined by the law, these could funds may be retrieved if the account holders’ prove their ownership. Colombian Government Craving Unused Funds The new budget law that was approved last week via an express vote by Colombian legislators, has introduced a controversial change, allowing the government to....


Related News

Cryptocurrency Exchange Cryptsy Trolled by User: Accused of Stealing, Misbehaving

A random user on Reddit recently accused cryptocurrency trading platform Cryptsy of stealing his funds. "I made an account on cryptsy last year after getting some Dogecoin and traded it for BTC," CRYPTONUMISMATIST narrated. "It wasn't a huge amount of money and I had created a unique login/password and kept the credentials offline so I wasn't too concerned. I log in today, over a year later, because I wanted to withdraw the BTC, and all my coin balances are 0." However, the Cryptsy staff ensured the accuser that his funds were safe and in fact were moved to a secure cold storage due to an....

Report Claims Colombia's Central Bank May Enact Bitcoin Ban

The Superintendencia Financiera de Colombia (SFC) may be close to outlawing bitcoin transactions in the South American country, a report from a major nationally distributed newspaper claims. El Tiempo reported on 20th March that the SFC, in conjunction with Banco central de Colombia, Colombia's central bank, and the Ministerio de Hacienda y Crédito Público, the executive body responsible for budgetary concerns, is preparing to issue a document outlining the government's stance on bitcoin and bitcoin-related activities. According to El Tiempo, the SFC is set release the circular outlining....

Bitcoin Protection from Bank Raids and Kleptocracy

Latest cash grab. It was reported in the Australian news source news.com.au that the Australian government arbitrarily voted itself the rights to close and confiscate bank deposits if left idle for only three years. Some are starting to wonder if this kind of Kelptocracy is just the beginning. This netted the government $360 million dollars as of this past week and effectively liquidated 80,000 bank accounts. Unsurprisingly, retirees, farmers and others that were holding the bank accounts are outraged. The Australian government elected to lower the threshold for the law that allowed....

Tesco Bank Gives £25 Handouts as ‘Gesture’ for Stolen Customer Funds

UK bank Tesco Bank has suspended online payments after funds disappeared from 20 thousand accounts, while customers report being offered ‘goodwill gestures’ worth just £25. Tesco Bank: Accounts Blocked As ‘Precaution’. Tesco Bank, owned by the UK’s largest supermarket chain of the same name, has so far not given details about the thefts, which occurred....

Second Stimulus Checks: New Proposal Taps Unused Fed Funds, Lawmakers Call fo...

Americans are anxiously waiting to hear if they will receive a second round of stimulus checks as many are suffering due to the coronavirus-led economic crisis. Treasury Secretary Steven Mnuchin has a new proposal to immediately provide relief aid, while Nancy Pelosi has been discussing stimulus plans with Mitch McConnell, Joe Biden, Kamala Harris, and Chuck Schumer. New Stimulus Proposal and Status of Second Stimulus Checks U.S. lawmakers have been actively discussing stimulus packages this past week with the aim to help Americans cope with the coronavirus-led economic crisis. A number of....