That’s not really the case. The government mostly just makes one law that says “hey, bank, it’s your responsibility to know your customer and their source of wealth and God forbid you can’t when we come asking”.
I wonder what proportion of all Americans have actually had any kind of material interaction with KYC/AML. My guess is it’s approximately none of them.
> I wonder what proportion of all Americans have actually had any kind of material interaction with KYC/AML.
Impossible to know since it's illegal to tell someone they're the subject of such extrajudicial investigations. Even knowing about the existence of such laws makes them assume you're a money launderer because of your "technical knowledge".
I wonder what proportion of all Americans have actually had any kind of material interaction with KYC/AML. My guess is it’s approximately none of them.