Re:How Well Does the Money Laundering Control System Work?
by thwarted on Thursday August 21, 2025 @01:12PM
(#44975360)
> In such case there is a presumption of innocence and government should need a warrant before requiring client to satisfy AML or KYC documentation.
But since you don't know when the government is going to ask for it, you need to collect it from everyone all the time, otherwise you won't have it to satisfy the request. "What do you mean you don't know who your customers are?" is not a question you want to have to answer in the face of a warrant.
But since you don't know when the government is going to ask for it, you need to collect it from everyone all the time, otherwise you won't have it to satisfy the request. "What do you mean you don't know who your customers are?" is not a question you want to have to answer in the face of a warrant.