[tabs_masterrace]

That's a bit naive I think. First it wouldn't be very effective, banks are banks, that is their expertise, just because there's a reward doesn't turn bankers into policeman that will detect and act on money laundering. Then, who shall pay for the reward. The government, the central bank? Tax reductions? How valuable is a cash reward for one of the big banks anyway.

Then on top of that politics come into play, with all these increasing trade embargoes and bi-lateral agreements, many transactions could be interpreted either as laundering or legit, depending on interests.

[elliekelly]

> First it wouldn't be very effective, banks are banks, that is their expertise, just because there's a reward doesn't turn bankers into policeman that will detect and act on money laundering.

That’s exactly how the system works though, minus the reward. The AML Officer is personally responsible for implementing policies & procedures that are “reasonably designed” to prevent and detect money laundering. Then the banks report their suspicions to the government. The government is not the first line of defense or even investigation when it comes to money laundering.