from Patrick McKenzie | by Patrick McKenzie

Surprised and yet entirely unsurprised, because “laundered money for Hamas” is basically the paradigmatic way to screw up AML controls, and WSJ reports Justice Department says Tether…

Now a thing they will tell you in Compliance class is that there is no de minimis threshold for screwing up on terrorist financing; the government purports to be offended by the first dollar as much as the last. But we are not talking about de minimis amounts: