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This is definitely an interesting position, but it's an argument that needs to be backed up with solid evidence about the costs and ineffectiveness of KYC. This
by twic 3y ago
This is definitely an interesting position, but it's an argument that needs to be backed up with solid evidence about the costs and ineffectiveness of KYC. This post contains zero such evidence, and as such, is entirely worthless.
- logicchains 3y agoProponents of KYC also never backed their policies with empirical evidence of their effectiveness; the onus should be on them to prove that KYC is effective enough to justify the inconveniences and privacy violations it entails.
- paulgb 3y agoIt’s hard to prove a law that has a deterrent effect, since you can see the number of people it “caught” but the people it deterred are invisible. The best proxy for the deterrent effect is how much criminals need to pay to launder money. I can’t find a good source on this, but some anectdata that put it between 15-50%.
- Kamq 3y agoI mean, sure, but if you're demanding detailed statistics from the anti-side (the start of this thread), letting the pro-side gesture vaguely in the direction of hard to measure deterrence seems like an isolated demand for rigor.