Research suggests that the modern anti-money laundering movement is profoundly ineffective. Almost beyond satire. That the “effectiveness” ratings framework based on “outcomes” bears little relationship to the science, with scarcely any concern for effectiveness or intended outcomes, and failure adequately to use, or misuse, existing data. A trio of professors wryly noted a lack of meaningful data collection, and a long line of independent researchers illustrated no proven impact on key objectives.
Yet the anti-money laundering movement continues, undeterred, proclaiming success. More regulations, better compliance, is the path to greater success. Apparently.
The answer to a simple question may resolve the conundrum.