Re:Canada 'sleepwalking' into cashless society, consumer adv...
by akira2501 on Sunday June 30, 2024 @03:47PM
(#40839733)
> It is a million times easier to catch criminals trying to physically launder large volumes of cash
Which is odd because all the arrests and cases I see published all catch the money laundering activity because it reached the banking system, not because an alert officer spotted large volumes of physical cash.
> Why do you think AML/KYC is such a priority ?
I honestly don't know. I can't see any evidence which suggested it needed to be made a priority generally. It looks like most of this fraud involves real estate.
Which is odd because all the arrests and cases I see published all catch the money laundering activity because it reached the banking system, not because an alert officer spotted large volumes of physical cash.
> Why do you think AML/KYC is such a priority ?
I honestly don't know. I can't see any evidence which suggested it needed to be made a priority generally. It looks like most of this fraud involves real estate.