3 ms·
Article says 4% of SARs lead to law enforcement followup (and of those how many actually result in a conviction? Probably not even a third of that). So 95%+ of
by from 3y ago
Article says 4% of SARs lead to law enforcement followup (and of those how many actually result in a conviction? Probably not even a third of that). So 95%+ of them are useless! The current system has terrible incentives because there are massive penalties for not filing but no penalty for useless filings. So they just file and file and file...
- deadly_syn 3y agoI mainly agree with you the system is abused flagrantly, on the other hand playing devils advocate potentially the low amount of follow up is because shutting an account has 0 risk to life or limb of anyone involved. If they shut down the shared bank account being used to hold all the money to a (poorly run albeit) drug empire you just put that org significantly in the hole, and the person doing the dirty work is sipping coffee in their pajamas completely ignorant to the outcome of their perscribed click.