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Can you explain the history of accredit investor laws and how they were designed to keep out criminals? I thought they kept out retail, i.e. the less wealthy.
by disruptalot 5y ago
Can you explain the history of accredit investor laws and how they were designed to keep out criminals? I thought they kept out retail, i.e. the less wealthy.
Criminals are traditionally the opposite and have "legitimate" funds that they have washed through and through using the existing financial system.
- arcticbull 5y agoWell the OFAC list and AML/KYC laws do that. Accredited investor laws are to stop poor people from getting rekt by snake oil salesmen which led to the Great Depression.