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Anti-money laundering: Difference between revisions
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Is anti-money laundering “the world’s lease effective policy experiment?” | Is anti-money laundering “the world’s lease effective policy experiment?” | ||
Ron Pol thinks so: | {{author|Ron Pol}} thinks so: | ||
{{quote|“... the anti-money laundering policy intervention has less than 0.1 percent impact on criminal finances, compliance costs exceed recovered criminal funds more than a hundred times over, and banks, taxpayers and ordinary citizens are penalized more than criminal enterprises. The data are poorly validated and methodological inconsistencies rife, so findings cannot be definitive, but there is a huge gap between policy intent and results.” | {{quote|“... the anti-money laundering policy intervention has less than 0.1 percent impact on criminal finances, compliance costs exceed recovered criminal funds more than a hundred times over, and banks, taxpayers and ordinary citizens are penalized more than criminal enterprises. The data are poorly validated and methodological inconsistencies rife, so findings cannot be definitive, but there is a huge gap between policy intent and results.” | ||
:—Abstract, ''Anti-money laundering: The world’s least effective policy experiment? Together, we can fix it'' | :—Abstract, ''[https://www.researchgate.net/publication/339486326_Anti-money_laundering_The_world's_least_effective_policy_experiment_Together_we_can_fix_it/fulltext/5e55561e4585152ce8ee54c5/Anti-money-laundering-The-worlds-least-effective-policy-experiment-Together-we-can-fix-it.pdf Anti-money laundering: The world’s least effective policy experiment? Together, we can fix it]'', 2020}} | ||
Hard to argue, though the [[Basel]] rules on close-out [[netting]] run it fairly close. | Hard to argue, though the [[Basel]] rules on close-out [[netting]] run it fairly close. | ||