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by A4ET8a8uTh0
1305 days ago
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Yes. Without careful stewardship, the compliance becomes a very weird dance, where regulators might focus on things that actually undermine the original intent of the law. For different example, lets look at the BSA front in US banking system, where SARs as a system was developed primarily to assist LEOs, but due to overzealous enforcement by various regulators, banks effectively threw their hands in the air and collectively said "Fine, we will report everything." ( look up defensive SAR filing if you are curious about the details). And now we are in a weird situation where LEOs have to sometimes say things like "If you file it, make it stand out and tell us why it matters so that we can use it"(paraphrased). Unintended consequences of good intentions. |
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