To understand anything is to look at incentives.

Which agencies benefit from AML expenditure?

Which agencies benefit from AML penalties?

Why do agencies spend so much on enforcement despite abysmal efficiency?

$$$$

Jobs, revenue, cronyism, revolving doors.

Same old same old.

They don’t care about catching criminals.

Why do banks continue getting fined billions while continuing doing business as usual?

Why do bankers meet with Liz while she pretends to be anti big banks.

One hand feeds the other. All incentives align to help each other. Pesky humans and their rights - meh, what a nuisance.