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RE: The Regulatory Shakedown: The Small and Medium Sized Banking Kryptonite
The KYC/AML is an interesting policy for me, I want to know just how effective it has been. We never seem to hear about that, but so much illicit funding still persists to this day?
Thanks for the post.
I would suggest that it has not been incredibly effective in the past as even just understanding offshore company structuring and financing can take years. Although we are seeing now the use of algorithms that can lower labor cost of enforcing these regulation they tend to focus on small repeated transfers and large wire transfer still require a physical person to view them and analyse any banking AML/KYC risks
Agreed.