Money for Selling Old Rope15 Jan 2026 10:22
AML is a bureaucrat's dream. It's overriding purpose is admirable but it generally just means that law-abiding people/organisations have to jump through hoops for no good purpose. The last time I looked, criminal organisations were still laundering their ill-gotten gains with relative ease (they may be paying the middle-men a few percentages more than before but it's generally business as usual).
Has anybody ever evaluated whether AML is actually achieveing its overarching objectives? Instead of adding additional layers of complexity to no good end we should just scrap it; we'd save £billions each year!