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Comment Re:It's an accidentally-on-purpose. (Score 4, Informative) 208

I don't know. Consider the Swiss banks.
http://en.wikipedia.org/wiki/B...

It's common knowledge there is money on their accounts from several criminal practices, including avoiding taxes.
The Banking Law of 1934 made it a criminal act for a Swiss bank to reveal the name of an account holder.

That law has taken a lot of hits recently. Basically, Uncle Sam has threatened Swiss banks to revoke their license in the US (which would mean that they are not allowed to make any transactions in USD) if they don't cooperate with the IRS. It's blackmail, but it's also for a cause that most of the little people would see as good (tackling tax evasion). Now EU countries are negotiating the same kind of deals.

Dear money launderers and tax evaders, please cross the border to Liechtenstein, or take your money to SE Asia or the Carribeans. Your Swiss representative has already set up your bank account there for you.

Comment Re:It's an accidentally-on-purpose. (Score 2) 208

Actually, that raises a good point. It seems this only applies to communications to the outside of Australia, so there is probably a provision in the law for companies to hand over their encryption keys to the judicial authority if required, which means they wouldn't nail people in Australia communicating with their Australian bank. But tourists connecting to their bank abroad, well...

(This is hypothetical, but probably not too far off the truth)

Here in the UK, Cameron reportedly said that people shouldn't be able to communicate without some intelligence agency being able to snoop. So basically, he's just made math illegal...

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