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It is combination of both factors, along with others. (a) big banks (b) BSA compliance manuals (AML, KYC) (c) regulators slapping huge fines against big banks f
by raincom 3y ago
It is combination of both factors, along with others. (a) big banks (b) BSA compliance manuals (AML, KYC) (c) regulators slapping huge fines against big banks for "weak controls" (d) an algorithmic solution to show that banks have "strong controls"
(b), (c), (d) force banks to wage war against cash. So, if you have a small business that accepts cash, your bank doesn't want your business as a customer, as they don't want to accept cash deposits, nor do they want customers who withdraw cash regularly. That's why large retailers have their own shadow banks to get around the push towards anti-cash.