Re:Paper Money Diehards Refuse to Fold
by anigbrowl on Monday May 29, 2023 @04:13PM
(#36117598)
That's a cop-out, fraudsters don't announce themselves so naturally retail businesses look for proxy markers from which to draw inferences. There's an entire money-laundering industry that aims to handle this issue for organized criminals. If you don't engage with this fact than you're just handwaving away the problem, undermining any pro-cash advocacy you engage in.
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The real cop-out is that HSBC and friends launder more money for terrorists and human traffickers on a bad day than your typical local racket does in a year, and they only ever receive a token fine and slap on the wrist.
Also true, but not germane to this discussion.
It’s germane in the sense that what you’re arguing against is a rounding error by comparison, consequently, not a material argument against cash-based money laundering in any meaningful sense.