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A shocking idea would be to prosecute the source of the ill gotten gains, or the underlying crime, rather than imposing these AML externalities on other actors.
by notch898a 4y ago
A shocking idea would be to prosecute the source of the ill gotten gains, or the underlying crime, rather than imposing these AML externalities on other actors. After all, something is not money laundering if the funds were legitimate to begin with.
- nikanj 4y agoAlas prosecuting dictators and government officials in third-world countries doesn’t really happen, and the only way to prevent them stealing the nation’s wealth is to block the transfers
- notch898a 4y agoI take issue with the idea that AML as currently implemented is the "only way" and also with the characterization you've made that what we did stopped the stealing.
- logicalmonster 4y ago> A shocking idea would be to prosecute the source of the ill gotten gains, or the underlying crime, rather than imposing these AML externalities on other actors. Of course. But there's 2 big problems with that from a government's perspective. 1) Prosecuting actual criminals would require hard work: real investigation without having an automatic sneak peak into everybody's finances is hard. 2) This wouldn't give the government any extra power.
- WalterBright 4y agoA modern principle of US justice is it's always someone else's fault.