AML works, even if it intercepts less than 1% of criminal proceeds

Re:AML works, even if it intercepts less than 1% of criminal... by TacticalCoder on Saturday August 12, 2023 @11:15AM (#37101023)

I'm downvoting you because an estimated 3% to 5% of the world's entire GDP is linked to criminal activities (official CIA factbook numbers). Bitcoin doesn't even register on the radar of money laundering.

And only the dumbest of the dumbest criminals leave traces in a public ledger, especially now that several companies do specialize into analyzing these public ledgers to find evidence of criminal conducts.

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Re:AML works, even if it intercepts less than 1% of criminal... by celtoid on Saturday August 12, 2023 @12:10PM (#37101627)

I made the comment because the AML/KYC insanity is one of the factors that figured into the adoption of Bitcoin early on. There's a little bit of cognitive dissonance induced in seeing someone voice full throated support for AML while also asking for crypto donations.

I'm pro-crypto, btw.

[ Parent | on HN ]

Re:AML works, even if it intercepts less than 1% of criminal... by pestatije on Saturday August 12, 2023 @12:12PM (#37101644)

i undid your downvote because it is well known that bitcoin is used to avoid law enforcement

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