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SLP318 Ronald Pol - The ineffectiveness of AML

Stephan Livera Podcast

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I'm Not Particularly Fussed by the a Regulation or Not Regulation

O, i think what i am hearing is essentially a story of ineffectiveness. There has been incredible compliance burden, cost and lack of access driven into the financial system. Even on their own terms, if they are only finding zero, point one % or point o five percent of criminal finances, then it's obviously not a very effective policy. It's not efective. But I'm not particurly concerned about the cost effectiveness. Its its incredibly ineffective in terms of cost. If you look at the costs roughly like the like ey cost many hundreds of times more m on bank citizens. And as taxpayers, we pay every cent of the cost of all these government agencies as well

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