U.S. blacklists Cuban dictatorship’s highly profitable debit card

Socialism is not only notorious for causing misery and death, it is also notorious for profiting off misery and death. Cuba’s socialist dictatorship forces Cubans to use their remittances-backed debit card to buy basic items, charging exorbitant fees and exchange rates. But their scam is over when it comes to U.S. dollars.

Via ABC News:

US adds popular Cuban debit card to restricted list

A debit card backed by remittances that recently became popular in Cuba because people can use it to buy home appliances, food and replacement parts has landed on the U.S. government’s restricted list.

U.S. Secretary of State Mike Pompeo said in a statement Monday that Cuba’s military controls American International Services and uses parent company FINCIMEX and other entities to “charge fees and manipulate the remittance and foreign currency market…The profits earned from these operations disproportionately benefit the Cuban military, furthering repression of the Cuban people and funding Cuba’s meddling in Venezuela.

“The people should be able to receive funds from their family abroad without having to line the pockets of their oppressors,” he said.

FINCIMEX is a Cuban state company that processes remittances and issues the American International Services card, which the government began accepting in July amid a pandemic that worsened the lack of food on the island and sparked long lines for goods. The card became so popular that FINCIMEX temporarily stopped accepting applications in mid-August but resumed them this month.

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