POLITICS 05/28/2018 05:45 am ET Lawmakers' latest attempt to fight human trafficking could end up hurting voluntary sex workers. By Jenavieve Hatch A new law that shuttered websites used by voluntary sex workers to screen clients has already forced some to risk their lives by returning to the streets to find business. But the broad bipartisan alliance that passed that legislation last month isn’t done. Now, Sens. Elizabeth Warren (D-Mass.) and Marco Rubio (R-Fla.), who both voted for the first bill, are pushing a proposal in the Senate that would impose similar restrictions on sex workers’ bank accounts — a move that sex workers say could further endanger their income, safety and lives. Just like last month’s Allow States and Victims to Fight Online Sex Trafficking Act, Warren and Rubio’s End Banking for Human Traffickers Act is intended to crack down on human trafficking. The bill, which passed the House in overwhelming fashion last … [Read more...] about First Congress Took Sex Workers’ Websites. Now It’s Coming For Their Bank Accounts.
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Zelle is an app that is supposed to make it easy and safe for you to send money to friends or relatives. But some consumers who never signed up for Zelle said strangers are using the service to steal money in a matter of seconds. Zelle is said to be the new fast, safe and easy way to send money from one bank account to another in a matter of minutes. But consumers like Brad Miller say they've been robbed in a matter of seconds. Miller said he's banked with Wells Fargo for more than 29 years. He said everything was fine until recently, when he got an alert on his phone saying his Wells Fargo password had been changed. Bus Driver, 77, in Deadly Crash Had 14 License Suspensions "I immediately hop on my computer and try to log in and of course I'm locked out," he said. Moments later, he received another email saying he added Lori Miller as a new Zelle recipient and can now send her money. The McKinney, Texas, man said he doesn't know a Lori Miller, so he called his wife. Philip … [Read more...] about Consumers Say Their Bank Accounts Were Hacked Through Zelle
IMAGINE turning 25 and seeing that your bank account had been boosted with a birthday present of £10,000. It’s the stuff of dreams, right? Well, if The Resolution Foundation had its way, this wouldn’t just be every young person’s fantasy - it would actually happen for real. The independent think tank says all 25 year-olds, no matter how rich or poor, should receive a lovely little £10k nest egg from the government to help with tuition fees, buying a home or caring costs. Supposedly, this would balance out inter-generational unfairness to help young people, already priced out of the housing market and struggling with insecure jobs, to stand on their own financial feet. But, if this were to happen in reality, would anyone really look after the handout in a sensible way and invest it wisely in their future? Or would they head to the nearest travel agent and splurge it on a one-way trip to Bali? We take a closer look at the bank accounts and spending habits of … [Read more...] about Can you guess who has £10,000 and who has £24? What’s really inside these 25-year-olds’ bank accounts
By Abhirup Roy and Devidutta Tripathy MUMBAI (Reuters) – The Indian central bank moved to bar banks and other entities that it regulates from having any linkages to virtual currency dealers, leading to a plunge in Bitcoin and other cryptocurrencies on local exchanges on Friday. The government and central bank have previously cautioned the public https://www.reuters.com/article/us-india-cryptocurrencies/india-likens-cryptocurrencies-to-ponzi-scheme-cautions-investors-idUSKBN1EN0FB on cryptocurrencies, with New Delhi earlier this year vowing to eliminate the use of digital currencies, which it considers illegal in the country’s payment system https://www.reuters.com/article/us-market-bitcoin-india/india-to-bar-cryptocurrencies-from-its-payments-system-finance-ministry-official-idUSKBN1FP1DH. Entities regulated by the Reserve Bank of India (RBI) shall not carry out transactions with individuals or businesses dealing in virtual currency, the central bank said on Thursday after … [Read more...] about Cryptocurrencies hit hard on Indian exchanges after central bank clampdown
Swiss President Ueli Maurer. Photo: Swiss government Swiss President Ueli Maurer says he sees "no need to change strategy" after fellow financial centre Luxembourg eased its bank secrecy practices. Now is a "dangerous time for Switzerland (but) unlike Luxembourg, Switzerland is not part of the EU" and it meets Organisation for Economic Cooperation and Development criteria, Maurer said in an interview published on Sunday.in the face of growing international pressure over tax evasion, agreeing to the automatic exchange of bank account information with its EU partners from 2015, he told the Swiss weekly Le Matin Dimanche.adding: "The state must absolutely respect the private sphere" and should not know "what there is in your bank account".honouring the United States' Foreign Account Tax Compliance Act led to the lifting of banking secrecy for US customers of Swiss banks.years ago," he said. "The banking centre's strength also has to do … [Read more...] about Swiss president against banking secrecy changes