Comment by nyclounge
1 year ago
>Law enforcement should do their job and investigate crimes, rather than outsourcing this responsibility to financial institutions and effectively forcing them to be the "judge, jury, and executioner."
Think there have being big pressure from banks and financial institutions to centralize power. AML laws seems just a way for the regulators to do it.
Banks and financial institutions see AML as a necessary cost center to continue operating as a business. They would gladly fire 90% of their compliance department if they didn't have to write hourly memos to FinCEN and join conference calls with the Fed. Power and money correlate, but money is ultimately what does the talking.
> pressure .. to centralize power
Social law and order rests upon consent of the governed.
Social contracts are abrogated when legal power is hijacked.
Indirection of motive via narrative, math or physics is not consent.