Did Ebay Buy Paypals Problems?
excerpt from a Wall St Journal article Money Laundering Due to the government’s continuing war on terrorism and money-laundering, Paypal and other such services may be required to comply with a stiffer set of rules. PayPal officials concede that the act could have an impact on its daily operations, and that complying with the new money-laundering rules, depending how far they go, could be costly. In an initial public offering prospectus the company filed with the Securities and Exchange Commission earlier this year, PayPal said the Patriot Act posed several threats to its business model and daily operations. “We cannot predict how such regulation would affect us,” the filing said. “Complying with such regulation could be expensive or require us to change the way we operate our business.” The Treasury Department is expected to issue rules this fall that will set minimum standards financial institutions must meet to determine the identities of their customers. The new rules will require
