pull down to refresh

How does KYC prevent funding terrorism in the first place? It's not like the terrorists sign up for a bank account stating "occupation: islamic extremist".
There have been ways to funnel money and resources to illegitimate causes since the advent of money, and the presence of KYC/AML regulations hasn't stopped it.
I don't have any stats, but I would wager that removing KYC/AML and allowing total financial freedom for individuals would do more to reduce terrorism than the KYC/AML regulations achieve on their own.
I don't have any stats, but I would wager that removing KYC/AML and allowing total financial freedom for individuals would do more to reduce terrorism than the KYC/AML regulations achieve on their own.
How?
reply
0 sats \ 1 reply \ @alt 6h
Purely through the broader changes that such freedom would create in society. A freer society ends up being a happier, healthier, richer society, with a greater incentive to cooperate and trade peacefully.
reply
I think there would always be both sides, no matter how freer the society gets.
reply