News: Eighty nations strike deal over e-commerce, but lack US backing, page-4

" but failed to bring the United States on board." is the important point lappie. certain there'll be some who'll abuse any opportunity for criminal conduct. but these sort of networks are carefully, tightly controlled. regulated to ensure legal transactions are swift (hence the SWIFT system in the EU) and secure while monitoring for suspicious transactions. the system also has links with Interpol which screens for ID checking suspicious transactions.

the CBA and other banks showed how neglect of such security to prevent money laundering, which I had interests in, can damage their companies. this is designed to catch people, not give them open slather.