I recently publicized an interesting map showing that so‐called tax havens are not hotbeds of dirty money. A more fundamental question is whether anti‐money laundering laws are an effective way of fighting crime — particularly since they substantially undermine privacy.
In this new six‐minute video, I ask whether it’s time to radically rethink a system that costs billions of dollars each year, forces banks to snoop on their customers, and misallocates law enforcement resources.