Tornado Cash and collateral damage

Posted Aug 20, 2022 13:37 UTC (Sat) by Cyberax (✭ supporter ✭, #52523)
In reply to: Tornado Cash and collateral damage by gmgod
Parent article: Tornado Cash and collateral damage

> That's called a bank, except that vetting does not work in real life and KYC is why cash laundries are still used to launder money.

Nope. Money laundering by itself does not use banks. It typically involves fake contracts and pretend buys. So banks sees only money coming from legitimate contracts from known customers.

A bank that deliberately advertises itself as "tumbler" will be sanctioned and possibly shut down.

This is not a hypothetical: https://en.wikipedia.org/wiki/Danske_Bank_money_launderin...