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Anti-Money Laundering laws only catch 0.5% of illicit funds, yet cost 100x the money recovered. https://www.ledgerinsights.com/anti-money-laundering-has-less-t
by UncleDiaz12 6y ago
Anti-Money Laundering laws only catch 0.5% of illicit funds, yet cost 100x the money recovered.
https://www.ledgerinsights.com/anti-money-laundering-has-less-than-1-impact-on-crime-at-what-cost/ https://www.ledgerinsights.com/anti-money-laundering-has-les...
Also, the $10K threshold for additional AML scrutiny has been the same amount for nearly 50 years. It should be close to $50k in today's dollars due to inflation.
- nmlnn 6y agoIn 1970 when these AML thresholds were set a dollar was tied to gold at $35/oz. So based on the gold price today it's actually: $10,000 (1970) = $10,000 x 1880/35 = ~$537,000 (2020)