The more pressure banks are under to stop all money laundering, the worse banking will be. It'll only force them to be more invasive, and increase the false-positives for money laundering.

When transferring a large amount of money to Mexico as part of a business deal my bank flagged it as suspicious (fair enough!) and froze my entire account. But getting unfrozen wasn't a quick call, it was a painful 3 month process that cost me a both immense amount of stress and financial hardship.

I don't really understand why people would think banks should play the role of law-enforcement, when it's something they are so clearly not equipped to do (in resources, legal powers and incentives).