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

Founder @rivet (rivet.cloud) • Æxtropian Cypherpunk • Host @ WBRT (den.social) • e/acc • 🦇🔊

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?

Onchain since 2017 º
Building CriptoVox/AliceDAO






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