The Bank Secrecy Act and the Third Party Doctrine

The KYC AML compliance regulations that have been put in place throughout the banking and financial system have prevented 0.05% of crimes committed using where money laundering was involved, he says. The Bank Secrecy Act has also run counter to financial inclusion across the board as it resulted in fewer and more expensiveFinancial Action Task Force is a super national regulatory agency that nobody voted for. It's one of the craziest stats out there. They don't even go. Yeah, criminals get around. Criminals are going to criminal. It doesn't work.

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