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> Making them public would lead both to greater accuracy and their more widespread use keeps criminals out of the financial systems. What about arresting crimi
by TacticalCoder 2y ago
> Making them public would lead both to greater accuracy and their more widespread use keeps criminals out of the financial systems.
What about arresting criminals for their actual crimes instead of having a gigantic, worldwide, army of bureaucrats inventing sick and sicker KYC/AML rules which do nothing but cost business and honest people time and money?
Estimated worldwide KYC/AML compliance costs: $180bn. For absolutely nothing: nothing of value is produced. Pure Brazil (the movie) style redtape pointless documents, processes, code, etc. To freeze (not seize: just freeze, some of it shall be unfrozen after more pointless public servants shall waste time producing nothing of value)... $12 bn. 15x less than the estimated cost.
That's totalitarism for you: pure insanity created by sick minds and admired by sicker minds.
- kube-system 2y agoThat is because money can cross lines on political maps but police jurisdictions often do not. Also, criminals can hide, but bank accounts are always maintained at the bank.
- echoangle 2y agoYou know the value of measures like this is not just the money frozen but also the prevented crime which is not even attempted because people know about the measures, right? That’s like saying surveillance cameras are useless because they don’t catch thieves. Sure, but maybe they decrease theft anyways…