How Financial Surveillance Threatens Our Democracies: Part 2

Undemonstrated Effectiveness and Efficiency

I’m not aware of any study establishing the effectiveness of KYC measures in combating money laundering. And it’s not for lack of searching.

Conversely, there are numerous studies tending to conclude the opposite. Ronald Pol, a researcher at La Trobe University in Melbourne, synthesized in a research paper published in 2020, many works: Anand 2011; Brzoska 2016; Chaikin 2009; Ferwerda 2009; Findley, Nielson, and Sharman 2014; Harvey 2008; Levi 2002, 2012; Levi and Maguire 2004; Levi and Reuter 2006, 2009; Naylor 2005; Pol 2018b; Reuter and Truman 2004; Rider 2002a, 2002b, 2004; Sharman 2011; van Duyne 2003, 2011; Verhage 2017.

The main finding of this research paper is captured in a more than eloquent…

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