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Daily reminder that financial institutions surveil our every move to *checks notes* confiscate 1.1% of criminal proceeds

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anything profits TAX not paid will be most likely criminalized legit or not is immaterial

licensed banks r essentially auth agents of the gov (majority of them)

What's interesting is that, if you think about it, banks/financial institutions via AML essentially become an extended enforcement arm of the state

that is intended purpose if not done in smaller countries yet

“We only confiscate 1.1% of criminal proceeds, so let’s collect even more data!”

🤝

The real criminals are all in the state

Madness.

The argument is also used to justify chat control: monitoring

450 Million people to catch a few thousand offenders