Laws like the Bank Secrecy Act, which turns 50 this week, have helped stop money laundering and terrorism. But KYC and AML requirements have served to harm the world’s neediest through higher costs and reduced services.Laws like the Bank Secrecy Act, which turns 50 this week, have helped stop money laundering and terrorism. But KYC and AML requirements have served to harm the world’s neediest through higher costs and reduced services.

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