Compliance with the money laundering regulations is a complete waste of time. If they were scrapped (as they should be), it would save an enormous amount of time and money. There are a very large number of transactions which have to comply with the money laundering regulations – scrapping the regulations will release huge savings and will make the work of professionals and business (and that of any person engaged in any transaction caught by the regulations) much more efficient – to the benefit of the Country.
The money laundering regulations are unnecessary and burdensome. I do not believe that they have any impact on the movement of money used in illegal and unlawful enterprises or schemes. Criminals have their own network by which money is transferred.
The regulations must cost a huge amount of time and money for professionals to comply with. The regulations should be scrapped.