4 ms·
In practice presumes guilt without any evidence to justify suspicion, requiring everyone to report the purpose of every transaction, deputizing all financial se
by Canada 5y ago
In practice presumes guilt without any evidence to justify suspicion, requiring everyone to report the purpose of every transaction, deputizing all financial services to enforce it, and prohibiting anyone from holding any significant asset, such as cash, in their own custody.
The centralization of power is, in my opinion, far worse than the crime it is alleged to prevent.
- otterley 5y agoHow is it impacting you personally?
- Canada 5y agoDidn't see this until now. It has impacted me personally, I've had business accounts closed twice without any reasonable explanation, which is a huge crisis when you suddenly lose your ability to receive payments from customers and pay your employees and suppliers. The AML regime is the only reasonable explanation I can think of for a bank to close out a fee paying customer in good standing. I'm certainly not alone in having this happen to me, there's a lot of other people I've talked to who have been swept up in this.