"Based on 2009 data, the UN, with US State Department assistance, calculated the global success rate of money laundering controls at just 0.2 percent (UNODC 2011, 14, 119, 131), but, as noted above, the confiscation rate might be 0.07 percent. In other words, despite ubiquitous money laundering controls, criminals retain up to 99.93 percent of criminal proceeds."
https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1...
Rather fake than moderate, I would say.
https://moguldom.com/351338/fact-check-do-jp-morgan-chase-we...
As long as banks can just pretend to protect my privacy, while they sell my data, I feel more comfortable about the type of privacy that cryptos like monero provide.
> Why shouldn't we ask that crypto be judged against this baseline?
Why shouldn't we ask for a reasonable baseline that really protects people's privacy and not just some corporate version of "privacy™"?
> effective measures against money laundering
Just yesterday, Deutsche Bank's HQ was searched over possible money laundering.
Conventional banking combines a moderate level of privacy with effective measures against money laundering. Why shouldn't we ask that crypto be judged against this baseline?