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The Rage
therage@primal.net
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The Rage is an independent publication covering financial surveillance. Privacy is not a crime. Stay informed 👉 https://therage.co/subscribe/
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therage 2 months ago
🔴The Trump administration is considering an Executive Order that would require banks to collect citizenship information on customers, per the Wall Street Journal. As such, the proposed Executive Order would deputize banks to function as defacto policing agencies to crack down on illegal immigration. The Treasury is already pressuring banks to identify illegal immigrants and considering the potential re-underwriting of customers, as stated by Secretary Scott Bessent earlier this month. image
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therage 2 months ago
🚨NEW: HOW AN INTERNATIONAL TAX ENFORCEMENT GROUP DESPERATELY TRIES TO SELL YOU MORE SURVEILLANCE The J5 says cryptocurrency services pose a systemic risk to the financial system – by drastically misrepresenting what suspicious activity reports (SARs) actually do. According to the reports, OTC desks and cryptocurrency service providers have seen a sharp increase in SARs filings since 2015, so even more surveillance is needed to root out the potential use of cryptocurrency for tax evasion, money laundering, and terrorist financing. What the reports omit is that SARs in no way indicate crime. In fact, the vast, vast majority of reports filed with regulators are of innocent people and innocuous transactions. US financial institutions file upward of 30 million reports on customers every year, and for those efforts, government agencies have fewer than 400 criminal investigations to show for. That is trillions of dollars of transactions surveilled, and millions of reports filed, resulting in only a few hundred criminal investigations. The problem, apparently, is not that the overbearing system fails, but that not everyone is inside it… yet. 🔗 Full story:
The Rage
How International Tax Enforcement Group Desperately Tries to Sell You More Surveillance
The J5 says cryptocurrency services pose a systemic risk to the financial system – by drastically misrepresenting what suspicious activity report...
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therage 2 months ago
🔴A former Revolut employee has reportedly attempted to extort customers by threatening to leak their personal KYC data unless a ransom was paid. The extortion attempt appears to have been targeted at a pseudonymous X account with over 650,000 followers. Revolut has reportedly stated that no systems have been breached, and that the case is under investigation. The case highlights yet another risk of identity verification beyond security breaches and leaks, in which internal rogue actors obtain access to individual's sensitive information. As KYC laws are set to be expanded beyond the financial realm to ID social media users, the extortion of high-value pseudonymous individuals will likely grow into a lucrative business for criminals. image
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therage 2 months ago
🔴The Financial Action Task Force (FATF) has approved the production of new reports focused on the mitigation of AML/CFT risks for "unhosted wallets" and peer-to-peer transactions. The reports are expected to be published by April of this year. "The United States appreciates the FATF’s efforts to prevent abuse of this critical industry," the Treasury said in a statement on the FATF plenary's outcomes on Friday. The FATF is an unelected, international body that drives global anti-money laundering and counter-terrorist financing legislation. Nations which deviate from FATF AML/CFT guidance are placed on black- and grey lists, cutting off access to global financial markets. 🔗 Learn more about FATF and its influence on Bitcoin:
The Rage
Meet FATF: The Financial Bullies Memberclub Trying To KYC The Planet
There's assholes, and then there's FATF. The Financial Action Task Force is an intergovernmental body created in 1989 to "combat money laundering ...
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therage 3 months ago
🔴The Joint Chiefs of Global Tax Enforcement have issued a warning on the use of cryptocurrency payment processors and OTC desks for money laundering and sanctions evasion. The group bases its warnings on the increase of Suspicious Activity Report (SAR) filings related to such systems, which have risen starkly over the past ten years. "Cryptocurrency payment processors pose significant risks and unknown threats to the integrity of the global financial system," the group concludes. However, the group omits that the mere filing of a SAR is often not indicative of actual crime occurring. Research based on statistics released by the IRS shows that less than 0.3% of filed SARs have led to further investigation. More SARs != more crime. The Joint Chiefs of Global Tax Enforcement (J5) is a joint operational group formed in mid-2018 to combat transnational tax crime between US, Australian, UK, Canadian, and Dutch tax authorities. image
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therage 3 months ago
🚨The DOJ has quietly deleted over 2,000 documents on former MIT Media Lab director Joi Ito. The collection originally featured over 10,000 documents on Ito, which is now down to ~8,000. Ito resigned from MIT in 2019 for accepting donations from Jeffrey Epstein, but their relationship appears to have gone much deeper than previously disclosed. According to his LinkedIn, Ito currently serves as President of the Chiba Institute of Technology in Japan, where he also directs the Center for Radical Transformation. image
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therage 3 months ago
🚨NEW: HACKERS EXPOSE AGE-VERIFICATION SOFTWARE POWERING SURVEILLANCE WEB Three hacktivists tried to find a workaround to Discord’s age-verification software. Instead, they found its frontend exposed to the open internet, bundling financial reporting with facial recognition tech. For the first time, they lay bare what is really behind a software serving age-verification laws – and why such technology is far from harmless. We spoke with the researchers that exposed the software, who hope that their findings will serve as a wakeup call. 🔗 Full story:
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Hackers Expose Age-Verification Software Powering Surveillance Web
Three hacktivists tried to find a workaround to Discord’s age-verification software. Instead, they found its frontend exposed to the open internet.
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therage 4 months ago
🚨NEW: THE MARKET STRUCTURE DRAFT IS DANGEROUS SLOP Meant to include protections for developers, the draft leaves the door wide open for continued prosecution of developers and the total surveillance of non-custodial software users. Full story👇
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The Senate Banking Committee's New Market Structure Draft Is Dangerous Slop
Meant to include protections for developers, the draft leaves the door wide open for continued prosecution of developers and the total surveillance...
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therage 6 months ago
🚨JUST IN: Samourai Wallet developer William Hill sentenced to 4 years in prison, 3 years of supervised release image
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therage 6 months ago
🚨NEW: EMAILS REVEAL JEFFREY EPSTEIN MONEY FINANCED BITCOIN CORE DEVELOPMENT “Used gift funds to underwrite this which allowed us to move quickly and win this round. Thanks,” Media Lab Director Joi Ito wrote Epstein in an email titled DCI. Full story👇
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Emails Reveal Jeffrey Epstein Money Financed Bitcoin Core Development
“Used gift funds to underwrite this which allowed us to move quickly and win this round. Thanks,” former MIT Media Lab Director Joichi Ito wrot...
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