Money-laundering laws’ latest casualty: small embassies

I’ve got a new post up at Cato at Liberty about a snafu “embarrassing even by the standards of federal government foul-ups”: federal regulations intended to prevent “money laundering” are leading to dozens of mini-diplomatic crises as U.S. banks refuse to do business with smaller countries’ embassies for fear of tripping up under the regulations.

One Comment

  • I’m curious as to what percentage of money laundering is due to the war on drugs. I suspect that it is very and that this is yet another of the violations of civil liberties and inconveniences caused by that insane “war”.