The war against money-laundering is being lost
There&#x27;s no such thing as money laundering, it&#x27;s a recently engineered legal construct that was hoping to help reduce actual crime (the proceeds to launder). It totally failed.<p>Prosecute the actual crime (be it illegal drug distribution, illegal weapons dealing etc) and do old-school police work infiltrating such networks, or even work on the tax evasion angle if needed... instead of increasingly orwellian surveillance on everyone for increasingly small value transfers.<p>The whole AML&#x2F;KYC experiment has completely failed and has caused billions of damage in added costs for small businesses and people excluded from banking system all over the world [1]<p>Similarly to the war on drugs... it&#x27;s time to give up on all that craziness and get back to the basics of prosecuting and investigating the actual crimes, not the money transfers...<p>[1] <a href="https:&#x2F;&#x2F;www.tandfonline.com&#x2F;doi&#x2F;full&#x2F;10.1080&#x2F;25741292.2020.1725366" rel="nofollow">https:&#x2F;&#x2F;www.tandfonline.com&#x2F;doi&#x2F;full&#x2F;10.1080&#x2F;25741292.2020.1...</a>