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OPINION: Why huge flaws with U.S. AML rules means ‘trillions’ of fintech transactions are not properly tracked

TASK: AML Intelligence Columnist Sarah Beth Felix (center) at the 'Day Zero' Closed Session of 'International Anti-Financial Crime Summit 2024' in London earlier this month.

BY SARAH BETH FELIX, Special Correspondent

Innovation is good, responsible innovation is great. Fintech has tackled in some capacities what traditional finance cannot. 

But with light speed innovation we have turtle speed regulatory framework development in some countries which leads to fintechs going towards those countries that have the least amount of regulatory friction – like the US.

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