this post was submitted on 29 Feb 2024
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There's a catch here. Large amount of AML regulations imposed on banks is an indirect form of taxation, even if it wasn't the original goal. Banks have to do bulk of investigative work that makes sense to do there. To do that they have to employ crapload of people (in Poland, Hungary, Estonia etc). I'm not sure individual governments or EU want to get into that because they could turn out to be less competitive than private sector which has no qualms with outsourcing / offshoring as much as possible.