AML works, even if it intercepts less than 1% of criminal proceeds
It makes non-crime also more expensive. My bank now, to comply with AML rules, has a yearly KYC process that keeps getting more and more annoying, requiring more paperwork, a lot more of my time to fill that paperwork and me feeling like  a criminal (although a long term client and the bank made enough money of me).<p>I have no good solution, but this is also quite crappy.<p>Like for one of the business accounts, the KYC&#x2F;AML &#x27;assistent&#x27; for my bank kept sending back the documents with &#x27;this is not in English&#x27;. It was my <i>street name</i>. The street name <i>is a name</i>, it&#x27;s not translatable. But nope, they were not having it. And of course it&#x27;s a &#x27;different appartment&#x27; from my business account manager so he cannot help.