Re:HSBC moved vast sums of dirty money after paying record l...
by throwaway_pdp09 on Tuesday September 22, 2020 @05:30PM
(#24560179)
Don't make up numbers. Invented stuff is not illustrative, it makes you look ill-informed.
> "...you will still miss a lot"
What is 'a lot'? 2%? 20%? 85%?
> My post didn't say AML sucks so hard so don't bother
I quote: "The only way to eliminate money laundering completely is slow down the system so much that itβs literally unusable."
which is not the same as "...but AML=imperfect so there will be misses"
What little AML I've seen is about automated checking. Conmputers do it not people except when something is flagged. You don't need to "eliminate money laundering completely", they can't and they don't try, it's a best-effort, due dilligence thing.
> "...you will still miss a lot"
What is 'a lot'? 2%? 20%? 85%?
> My post didn't say AML sucks so hard so don't bother
I quote: "The only way to eliminate money laundering completely is slow down the system so much that itβs literally unusable."
which is not the same as "...but AML=imperfect so there will be misses"
What little AML I've seen is about automated checking. Conmputers do it not people except when something is flagged. You don't need to "eliminate money laundering completely", they can't and they don't try, it's a best-effort, due dilligence thing.