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In October, Andreessen Horowitz general partner Kathryn Haun claimed that “99.9% of all money laundering crimes go unprosecuted.” Haun explained that the financial services industry spends an estimated $20 billion a year on anti-money laundering (AML) and know-your-customer checks — but questioned whether any of these measures are actually working. From the perspective of AML, she said, when it comes to “moving to a decentralized system, I think we’re kidding ourselves if we think that’s going to change too much.”
