Today banks use $250B/year on KYC checks. You could fix the world hunger and still have $50B leftover money with this amount.
Today banks use $250B/year on KYC checks. You could fix the world hunger and still have $50B leftover money with this amount.
How about getting $200B from the profits to end hunger first then reduce the money spent on KYC?
Access to information and interconnectedness have also increased exponentially so it might make sense that the costs have increased proportionately.
Finally 200B/year would not solve world hunger if nefarious actors grift away most of that money (especially because you wouldn't be able to track them with out some form of KYC)
Crime X exists -> Try solution Y -> Crime X still exists -> Try harsher solution Y0 -> Crime X still exists -> Try harsher solution Y1 -> Crime X still exists -> Try harsher solution Y2...
I think the problem here might be that while Crime by its definition might be the same, the way that it is executed changes drastically so Solution Y/Y0/Y1/Y2 are not required to exist in terms of severity (very likely solution Y was severe enough if you were tried and convicted of the crime) but they are needed because the way Crime X is executed changes (especially this Crime X)