Overzealous Security To Lead to Bank Failures. (loans, tax return, money)

[openmike]

Billions of deposits are either on hold or being labelled suspicious in a sincere effort to curb laundering
theft, and funds being directed to questionable entities potentially risky. The problem is the paranoia
will create a user unfriendly system of complex navigation just to open a checking account! I predict
40% of banks will fail due to diminished deposits to cover sustainable loans and payouts for products.
They will not be able to maintain cash. Like the airlines...you don't need to take off your shoes now.
Money laundering is is a crime true but most suspected cases are vactually legit done LEGALLY! Only a small number are potential scams, supporting questionable organizations. Banks need to quit having long necks like peacocks and move on . Just micro manage your peacocks.

[greywar]

LOL. What? Sorry but no, banks are not going to go under due to money laundering paranoia. Worst case is the government could change lending vs deposit ratios.

[texdav]

No its just that money laundering is easier to follow with modern computers. That is good; not bad. Its not banks but regulators. Banks pay a price for not doing there home work well is all, I mean IRS figures 300 billions from income not report on tax returns alone. Much of that isn't the rich or bankers either as they are audited much more.