npub1zu…6c2uc on Nostr: In 2024, "US financial institutions spent $59 billion on compliance while filing 27.5 ...
In 2024, "US financial institutions spent $59 billion on compliance while filing 27.5 million reports on customers, but that only tipped off 370 investigations."
Setting aside the horrific privacy implications for a moment; it's insane how bad the Bank Secrecy Act is at catching criminals while being simultaneously amazing at wasting money.
https://www.therage.co/rep-lynch-bank-secrecy-act/Published at
2026-02-05 14:58:15 CETEvent JSON
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"content": "In 2024, \"US financial institutions spent $59 billion on compliance while filing 27.5 million reports on customers, but that only tipped off 370 investigations.\"\n\nSetting aside the horrific privacy implications for a moment; it's insane how bad the Bank Secrecy Act is at catching criminals while being simultaneously amazing at wasting money.\n\nhttps://www.therage.co/rep-lynch-bank-secrecy-act/",
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