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Meh I'm fine with a few coke dealers getting away if it means the intrusiveness on the innocents ends. I'd rather 10 coke dealers get away than a single innoce
by notch656a 5y ago
Meh I'm fine with a few coke dealers getting away if it means the intrusiveness on the innocents ends. I'd rather 10 coke dealers get away than a single innocent person be forced to undergo a warrantless KYC search to get a loan.
- refurb 5y agoAgain volunteering information is not a "search". And it's not a few coke dealers, it's tens (hundreds?) of billions in illicit money being laundered by the major banks.
- notch656a 5y agoIt's compelled by law and done at behest of government, it's a search of your 'papers'. If it were voluntarily you could continue with the transaction if the two private parties were OK with going forward without KYC. The analogy here is when stopped by a policeman and asked to search, you can decline and continue walking on with your voluntary activity -- if the policeman told you that you had to turn around and stop your voluntary activity for declining the search then it would violate the 4th amendment and the search would be involuntary. In this case the voluntary activity is engaging in services that involve government-imposed KYC.