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16min chapter
True Crime, banking edition
Complex Systems with Patrick McKenzie (patio11)
Navigating KYC and AML Challenges
This chapter examines the evolution of Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations since the 1980s and their impact on global finance. It highlights the complexities faced by individuals and businesses in high-risk countries and the scrutiny placed on financial transactions to prevent money laundering. The discussion emphasizes the regulatory burdens and inefficiencies that arise from strict compliance measures, raising critical questions about economic accessibility and the balance between regulation and legitimate business operations.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode