As a result of these ridiculous AML laws, walking around with too much cash is now considered an indication of criminal activity.
And thanks to the Civil Asset Forfeiture rules in the Land of the Free, police have the authority to confiscate your cash.
There’s no trial. No jury. They simply steal your money.
Believe it or not, the AML rules also apply to coin and jewelry dealers. So buying too much gold is now an indication of money laundering.
Having too many transactions in your bank account is considered ‘suspicious activity’.
(Of course, if you have too little financial activity, your bank account can be considered ‘dormant’ and turned over to the state.)
Even going to the bank to withdraw your own money is now considered suspicious. It’s madness.
The latest craze for the anti-money laundering crusaders is going after people who buy luxury real estate without a mortgage.