How Anti-Money Laundering Rules Stifle Innovation
April 24, 2013
Money transmitter licensing requirements, know-your-customer rules and other requirements create high costs and barriers to entry for new players in the payments field, says Dave Birch of Consult Hyperion. It's dubious that all the red tape is beneficial or necessary for payment accounts with small balances, he argues.
Related: Surprise! Big Banks Love Regulation
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