Aug 8, 2023
America has a big problem with money laundering -- a $300
billion per year problem, to put a number on it. Sadly, the United
States has become a top country for this crime, and it's only
making our fentanyl, opioid, and trafficking challenges even worse.
Banks, meanwhile, have been asking more and more questions of their
customers and would-be customers, all aimed at rooting out the
criminals -- but that has the unintended and perilous-to-freedom
effect of treating the innocent as suspects and allowing the
government to nose its way into private banking business. It's a
delicate balance: privacy versus security. But Scott Greytak, with
Transparency International, shed some insights on how America can
fight its growing money laundering crime problem.