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Continuing from our discussion of Know Your Customer (KYC) regulations, we have the closely related duty of financial institutions to have anti-money laundering (AML) policies. Much like KYC, I think there is more nuance here than broadly appreciated.
A brief overview of what money laundering is, what financial institutions do about it, and why.
We are not affiliated with Patrick McKenzie. This unofficial audio edition is available to listen to and share for free. Read the original on Bits about Money.
Duration
~22 minutes (21K characters)
Release date
Feb 10, 2023