Re:Tech experts urge Washington to resist crypto industry’s ...
by cdiddy2 on Wednesday June 01, 2022 @08:25AM
(#31580821)
It's not clear that AML regulation actually is all that effective. It also makes it a lot harder for competitors to start in the banking and finance industry.
"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."
"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...