What cost security?
For traditional financial services alone, compliance with the PATRIOT anti-money laundering provisions is projected to cost $10.9 billion by the end of 2005, according to the research firm Celent Communications. No wonder that the champions of forced business spying didn’t want to present even this watered down procedure for congressional review, says banking industry consultant Bert Ely. “If I was on the other side, I’d want that damn thing out of there!” he says.
writes John Berlau in Reason.