4 ms·
> I absolutely refuse to regress to the era where the mafia and cartel leaders ruled the streets and stood toe to toe with law enforcement Assuming you're talk
by from 4y ago
> I absolutely refuse to regress to the era where the mafia and cartel leaders ruled the streets and stood toe to toe with law enforcement
Assuming you're talking about the US, this really only happened because of the dramatic increase in organized crime prosecutions in the 70s (mostly due to the departure of Hoover), the RICO act which significantly increased sentences for typical mafia activities like drugs/loansharking/extortion/etc, and the witness protection program which changed informing from a likely death sentence to a potential to turn a new leaf. Money laundering only became a crime in 1986, the original BSA mainly just introduced cash reporting requirements (which had a threshold that at the time was two times GDP per capita). Also things like carjacking, cigarette trafficking across states were made federal crimes which again made prosecution easier. "Follow the money" is touted as this law enforcement panacea but historically is not really that effective. Which is why for instance most major narcotics trafficking cases today almost always rely heavily on wiretaps and informants/government witnesses.
And the now standard practice of adding money laundering charges to non drug cases really only started happening after 9/11. So in my opinion there is a lot of evidence that these laws have had rather limited benefits in terms of stopping crime but because of the erosion of the threshold due to inflation are having an increasingly large negative effect on privacy of regular people.
- themacguffinman 4y agoJust uttering the words "this only really happened because of the dramatic increase in organized crime prosecutions" is not really evidence that transaction records are not useful, neither is noting the date of money laundering laws. Money laundering laws necessarily came after the organized crime crackdown because we had to study these cases to proactively address them. You can't build an Al Capone-style cash empire in the US anymore. Unlike what you imply, money laundering is not about tacking on charges but rather detecting and tracing criminal organizations so it can be effectively prosecuted. Money laundering's critical role in organized crime is now widely understood [1]: - without money laundering, criminal finance is easy to discover - criminalizing it provides a legal basis for international cooperation that wouldn't otherwise exist to pursue global organizations There also aren't any Great Depressions and bank runs anymore, but we don't ask to remove those finance laws even though they historically didn't prevent the Great Depression. [1] https://www.unodc.org/e4j/en/organized-crime/module-4/key-issues/money-laundering.html https://www.unodc.org/e4j/en/organized-crime/module-4/key-is...