Comment by ryandrake

You also have to ask if money laundering is bad enough of a crime to warrant all of the overkill responses to it. At some point the medicine becomes worse than the disease. Lawmakers tend to get into these inescapable loops:

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...