Geopolitics

Anti-money laundering policy has less than 0.1 percent impact on criminal finances, compliance costs exceed recovered criminal funds more than a hundred times over, and banks, taxpayers and ordinary citizens are penalized more than criminal enterprises.

Anti-money laundering policy has less than 0.1 percent impact on criminal finances, compliance costs exceed recovered criminal funds more than a hundred times over, and banks, taxpayers and ordinary citizens are penalized more than criminal enterprises.
https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1725366

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Financial flows disrupted under the BSA regime are so paltry it is unlikely that it’s doing anything to actually stop any crime at all—though what the paper is suggesting is not “let’s give up”, it’s “let’s find a better way”—a new approach that stops crime and lessens enforcement burden is the goal

I need to read it, but does it take into account the potential crimes that would exist if no policy is in place at all?

It is a very expensive optics exercise (putting it mildly) if that is the case

And that doesn’t even quantify the cost in terms of financial inclusion vis-à-vis “de-risking”

Explaining complicated things in simple words. Contributor to blockchain newsletter project: https://www.blockswithbenefits.com

It is a very expensive optics exercise (putting it mildly) if that is the case

And that doesn’t even quantify the cost in terms of financial inclusion vis-à-vis “de-risking”

https://www.ledgerinsights.com/anti-money-laundering-has-less-than-1-impact-on-crime-at-what-cost/

Very interested in reading the full paper now but it’s not like this should be a massive surprise, just good to get some data for it. It’s not about the actual impact though, AML is much more about perception.