“the banks understand their corporate responsibility”

OMG ! That is too funny! … You’ve out done yourself with this one. – The only problem is, I think you were serious.

Nice out-of-context quoting. The full sentence was:

“Like the banks understand their corporate responsibility in combatting money laundering, payment processors also understand that they have a responsibility not to be enablers of infringement and counterfeiting.”

Perhaps you’d like to back you bullshit up with a few well-researched citations about problems with American banks and money laundering. You’ll note a strong correlation between the following acts and instances of money laundering by US banks:

Bank Secrecy Act (1970)

Established requirements for recordkeeping and reporting by private individuals, banks and other financial institutions
Designed to help identify the source, volume, and movement of currency and other monetary instruments transported or transmitted into or out of the United States or deposited in financial institutions
Required banks to (1) report cash transactions over $10,000 using the Currency Transaction Report; (2) properly identify persons conducting transactions; and (3) maintain a paper trail by keeping appropriate records of financial transactions

Money Laundering Control Act (1986)

Established money laundering as a federal crime
Prohibited structuring transactions to evade CTR filings
Introduced civil and criminal forfeiture for BSA violations
Directed banks to establish and maintain procedures to ensure and monitor compliance with the reporting and recordkeeping requirements of the BSA

Anti-Drug Abuse Act of 1988

Expanded the definition of financial institution to include businesses such as car dealers and real estate closing personnel and required them to file reports on large currency transactions
Required the verification of identity of purchasers of monetary instruments over $3,000

Annunzio-Wylie Anti-Money Laundering Act (1992)

Strengthened the sanctions for BSA violations
Required Suspicious Activity Reports and eliminated previously used Criminal Referral Forms
Required verification and recordkeeping for wire transfers
Established the Bank Secrecy Act Advisory Group (BSAAG)

Money Laundering Suppression Act (1994)

Required banking agencies to review and enhance training, and develop anti-money laundering examination procedures
Required banking agencies to review and enhance procedures for referring cases to appropriate law enforcement agencies
Streamlined CTR exemption process
Required each Money Services Business (MSB) to be registered by an owner or controlling person of the MSB
Required every MSB to maintain a list of businesses authorized to act as agents in connection with the financial services offered by the MSB
Made operating an unregistered MSB a federal crime
Recommended that states adopt uniform laws applicable to MSBs
Money Laundering and Financial Crimes Strategy Act (1998)

Required banking agencies to develop anti-money laundering training for examiners
Required the Department of the Treasury and other agencies to develop a National Money Laundering Strategy
Created the High Intensity Money Laundering and Related Financial Crime Area (HIFCA) Task Forces to concentrate law enforcement efforts at the federal, state and local levels in zones where money laundering is prevalent. HIFCAs may be defined geographically or they can also be created to address money laundering in an industry sector, a financial institution, or group of financial institutions.

Uniting and Strengthening America by Providing Appropriate Tools to Restrict, Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act)

[Title III of the USA PATRIOT Act is referred to as the International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001]
Criminalized the financing of terrorism and augmented the existing BSA framework by strengthening customer identification procedures
Prohibited financial institutions from engaging in business with foreign shell banks
Required financial institutions to have due diligence procedures (and enhanced due diligence procedures for foreign correspondent and private banking accounts)
Improved information sharing between financial institutions and the U.S. government by requiring government-institution information sharing and voluntary information sharing among financial institutions
Expanded the anti-money laundering program requirements to all financial institutions
Increased civil and criminal penalties for money laundering
Provided the Secretary of the Treasury with the authority to impose “special measures” on jurisdictions, institutions, or transactions that are of “primary money laundering concern”
Facilitated records access and required banks to respond to regulatory requests for information within 120 hours
Required federal banking agencies to consider a bank’s AML record when reviewing bank mergers, acquisitions, and other applications for business combinations

Intelligence Reform & Terrorism Prevention Act of 2004

Amended the BSA to require the Secretary of the Treasury to prescribe regulations requiring certain financial institutions to report cross-border electronic transmittals of funds, if the Secretary determines that such reporting is “reasonably necessary” to aid in the fight against money laundering and terrorist financing