As someone that works in financial crime prevention, I think these rules are a very blunt instrument that will almost certainly do more harm than good. There h

As someone that works in financial crime prevention, I think these rules are a very blunt instrument that will almost certainly do more harm than good. There have been banks in the past that have operated similar policies, and regulators have raked their senior leaders over the coals for implementing such naive rules. Transaction size alone tends to be an extremely weak signal for money laundering, but does tend to be a very strong single of high net wealth. Any criminal worth their salt will split up illicit transactions into smaller ones to avoid these types of rules, it’s money laundering 101.