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The Perverse Impacts of the Anti-Money Laundering System



At the same time, according to AEI’s Harper, any reforms that might decrease financial surveillance and control are nearly verboten among politicians. He points particularly to the current $10,000 threshold for reporting cash transactions to the IRS. In its current form, the requirement is incredibly broad, explicitly including any landlord who receives more than $10,000 in cash payments from a tenant in the course of a year, or a car dealer who sells a car for more than $10,000 in cash.



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