So the advice to the banking industry is:  go easy on the useless AML shit; go hard on "whatever you think it takes" to actually lower risk.

What could possibly go wrong?

Quote from below:  A "True Risk-Based Approach" to yield "higher value, quality outputs" and focus on "the usefulness of the information" monitoring programs generate is proposed in attempts to ensure that Financial Institutions "allocate resources toward mitigating crystallised risk rather than processing and documenting coverage against theoretical risk that has not been observed".

nostr:nevent1qqsz5dj22hnkzq20fs6h957q6rgk2x7tp8l6nsf4stwl6ff20sx4prspzpmhxue69uhkummnw3ezumt0d5hsygxc5mk0psuka2500xjyjllfka7ujamrx3gl8jjuvd8zppjez9ny0vpsgqqqqqqsc647pf