Squillions: How Money Laundering Won | Hacker News

An article argues that states depend on banks and other intermediaries to monitor money laundering, but that control is weakening.

Cash, cross-border transfers, direct electronic settlement, and bearer assets all make asset tracing harder.

The author says capital controls are increasingly obsolete, and tighter AML rules miss the deeper problem.

The Hacker News discussion critiques that claim and highlights the limits of enforcement in a more fragmented payment system.