Via CBC:The Royal Bank has refused to open American dollar accounts for people of certain nationalities since April 2006, Radio-Canada reported Monday.
Canadian citizens with dual citizenship in Iran, Iraq, Cuba, Sudan, North Korea or Myanmar are affected.
The bank didn't agree to an interview with Radio-Canada, but did confirm the report.
The Royal Bank is conforming with U.S. Treasury Department laws.
A spokesperson for the federal Finance Department said it was unaware of the practice, and that the bank could be liable for heavy fines.
There is no mention of this discriminatory practice on the bank's Anti-Money Laundering Certification page other than a vague reference to knowing their clients. Welcome to the guilty until proven innocent society run by Big Brother and his corporate lackeys.
I find it ironic that a Canadian bank believes it must follow US laws in this area without the knowledge of our federal government while the Pentagon has just been caught with its pants down selling arms to Iran and China.
The GAO, the investigative arm of Congress, found it alarmingly easy to acquire sensitive surplus. Last year, its agents bought $1.1 million worth _ including rocket launchers, body armor and surveillance antennas _ by driving onto a base and posing as defense contractors.
"They helped us load our van," Kutz said. Investigators used a fake identity to access a surplus Web site operated by a Pentagon contractor and bought still more, including a dozen microcircuits used on F-14 fighters.
The undercover buyers received phone calls from the Defense Department asking why they had no Social Security number or credit history, but they deflected the questions by presenting a phony utility bill and claiming to be an identity theft victim.
The Royal Bank: refusing to do business with innocent people.
The Pentagon: doing business with the guilty.
Update: Guess who's checking out their bad PR on the web?
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