[calciphus]

In fairness, if I set up a bank which, by accident or by design, made it exceedingly easy to launder millions in cash relatively quickly, you can bet the DOJ would have a problem with that.

Transporting millions in cash is risky (either you trust the courier with that and risk their life, or you do it yourself and risk yours), and doing so internationally is extremely challenging and/or expensive. By contrast, doing it digitally is quite easy and fast.

It feels a bit disingenuous to insist the two are the same.

[stef25]

HSBC cooperated with cartels to launder money, apparently they even opened special counters for them to deposit cash at.

https://en.m.wikipedia.org/wiki/HSBC_Mexico#Money_laundering

[adrr]

Public companies tend not to get punished because it ultimately punishes the shareholders. Chickenshit club book talks about all the reasons why the DOJ doesn't go after the big public companies with criminal prosecution.

[A2017U1]

When was the last time a banker was put in jail for money laundering?