"VISA International"
for all you super intelligent people .. Visa international is owned by Visa a publicly traded USA corporation incorporated in DE in 2007 and is headquartered in San Fransico, CA, USA ...
From the 10-k
"The payments industry is the subject of increasing global regulatory focus, which may result in the imposition of costly new compliance burdens on our customers and us and may lead to increased costs and decreased payments volume and revenues.
Regulation of the payments industry has increased significantly in recent years. Examples of such regulation include:
Anti-Money Laundering Regulation. This includes the U.S.A. PATRIOT Act and similar regulations in most other countries in which Visa operates.
U.S. Treasury Office of Foreign Assets Control Regulation. Regulations imposed by the U.S. Treasury Office of Foreign Assets Control, or OFAC, restrict Visa U.S.A. and Visa International from dealing with certain countries, and parties considered to be connected with money laundering, terrorism or narcotics. Non-U.S. Visa International members may not be similarly restricted, so our payments system may be used for transactions in or involving countries or parties subject to OFAC-administered sanctions.
Regulation of Internet Transactions. Proposed legislation in various jurisdictions may make it less desirable or more costly to complete Internet transactions using our cards by affecting the legality of those transactions, the law that governs them, their taxation and the allocation of intellectual property rights.
Safety and Soundness Regulation. Recent federal banking regulations may make some financial institutions less attracted to becoming an issuer of our cards, because they may be subject to more conservative accounting procedures, increased risk management and higher capital requirements."
Mallick and epass have executive offices in California even though the incorporation is offshore. In looking at my prior post I may not have been clear about that.
However any USA involvement would cause them to have to follow USA AML laws. On its own the Visa situation would call for AML laws since it is a USA based. Also VV and Visa Electron cards are through Visa a USA corporation so, once again, the transaction would fall under USA AML laws....(If you haven't had to deal with these laws and the understanding and reporting requirements.Even IF something looks suspicious it triggers. The laws are broad and far reaching. It is 'Big Brotheresque".)
And yes I have money in epass.
(maybe not a moron ... maybe I am an informed moron who is not subject to panic and inflammatory accusations.)
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