Anti-Money Laundering Laws Don’t Work

The first Anti-Money Laundering law was the United States Bank Secrecy Act. It was passed in 1970, the Nixon Administration’s knee-jerk reaction to the boatloads of cash flowing into US banks. There were a few additions in 1986 and 1988, reacting to how the criminals had learned to evade the BSA provisions, but nothing substantive.

Can The UK Teach The US How To…