There’s a principled Fourth Amendment argument against anti-money laundering laws. In this video, however, I mostly focus on the cost-benefit issue, explaining that the fight against crime will be more effective if law enforcement is not forced to look for a needle in a haystack.
Should Banks Be Forced by the Government to Spy on Consumers?
February 22, 2010 by Dan Mitchell
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[...] Gallup just released a poll showing that 46 percent of Americans view the federal government as an immediate threat to the rights and freedoms of ordinary Americans. My first reaction was to wonder why the number was so low. After all, we have a political elite that wants to do everything from control our health care to monitor our financial transactions. [...]
[...] Gallup just released a poll showing that 46 percent of Americans view the federal government as an immediate threat to the rights and freedoms of ordinary Americans. My first reaction was to wonder why the number was so low. After all, we have a political elite that wants to do everything from control our health care to monitor our financial transactions. [...]
[...] Gallup just released a poll showing that 46 percent of Americans view the federal government as an immediate threat to the rights and freedoms of ordinary Americans. My first reaction was to wonder why the number was so low. After all, we have a political elite that wants to do everything from control our health care to monitor our financial transactions. [...]
[...] I have no idea whether Mr. Stio is a good guy or a crook. But I know that the government shouldn’t be allowed to grab his money without convicting him of a crime. Especially for a supposed offense against absurdly foolish and ill-conceived anti-money laundering laws. [...]
[...] I have no idea whether Mr. Stio is a good guy or a crook. But I know that the government shouldn’t be allowed to grab his money without convicting him of a crime. Especially for a supposed offense against absurdly foolish and ill-conceived anti-money laundering laws. [...]
[...] I have no idea whether Mr. Stio is a good guy or a crook. But I know that the government shouldn’t be allowed to grab his money without convicting him of a crime. Especially for a supposed offense against absurdly foolish and ill-conceived anti-money laundering laws. [...]
[...] just one specific part of the regulatory burden. Banks and other financial firms must deal with a costly array of laws and regulations as part of the government’s war on money laundering. This video explains the [...]
[...] the video I narrated on the general topic of money laundering laws. I think it makes very good points, but I wish this data had been available when I did the video so [...]
[...] the video I narrated on the general topic of money laundering laws. I think it makes very good points, but I wish these data had been available when I did the video [...]
[...] But Mayor Booker is right. Like Ron Paul, Pat Robertson, Richard Branson, and Gary Johnson, he’s figured out that the Drug War is mostly a vehicle to expand the size and power of government. It’s why we have fascist asset forfeiture laws and costly money laundering laws. [...]
[...] I’ve already explained how anti-money laundering rules are ineffective – or perhaps even counterproductive – in the fight against crime, largely because they [...]
[...] I’ve already explained how anti-money laundering rules are ineffective – or perhaps even counterproductive – in the fight against crime, largely because they generate [...]
[...] laundering laws, for instance, require banks (at great expense) to snoop on the financial transactions of customers in the theory that a few bad guys might get caught. As even the World Bank has noted, totally [...]
[...] course, sometimes the government actually requires us to spy on each other, as is the case with money laundering laws that criminalize innocent behaviors in a costly, intrusive, and ineffective effort to reduce [...]
[...] sounds good, but the evidence shows that these laws have become very expensive and intrusive, yet they’ve had no measurable impact on crime [...]
[…] the evidence, however, shows that these laws are a costly failure. The invade our privacy, hurt the poor, impose high regulatory costs, and have little or no impact on underlying […]