Is the Bank Secrecy Act Effective at Stopping Crime? No One Knows

ConclusionLater at the oversight hearing, RepresentativeWarren Davidson (R ‑OH) said,Give us some metrics. …Give us the evidence.…How do you measure the effectiveness? …Show me a case where what you collected resulted in a solved crime.…I’m looking for cause and effect. If you want to keep spying on American citizens, you’re going to have to show why.Between therequests from the public andcongressional inquiries, FinCEN is certainly aware of the pressing need to supply statistics on the effectiveness of the financial surveillance it oversees. At this point, however, it ’s clear that Congress needs to double down on the government reports required in Title LXII of the National Defense Authorization Act for Fiscal Year 2021 and require FinCEN to publish a public report on the effectiveness of the Bank Secrecy Act.
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs