Anti-money laundering state mechanisms

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This monograph provides a thorough analysis of the implementation of global anti-money laundering and counter-terrorism financing (AML/CTF) regulations in the United States and the European Union. It aims to enhance the understanding of academics, legal professionals, and interested readers regarding the AML/CTF legal framework and its complex relationship with international and European human rights law. The enforcement of these regulations has effectively suspended privacy and bank secrecy laws, transforming banks and financial institutions into extensions of law enforcement. This regime poses risks to the fundamental principles of the constitutional state, as increased centralization and cooperation among authorities in sharing personal data create a security architecture that may restrict freedoms. Notably, authorities can access citizens' personal data without initial suspicion, threatening constitutional integrity. Additionally, banks may exploit these policies to exclude legitimate but less profitable customers, particularly those with migration backgrounds, indicating a discriminatory trend that conflicts with the European Convention on Human Rights and the Charter of Fundamental Rights of the European Union. The monograph also examines factors undermining the effectiveness of AML/CTF measures, such as inconsistent rules that complicate cooperation among national investigative authorities. Ultimately, it emphasizes the