I agree, I am an immigrant in South Africa and over the last few years I have noticed increased regulatory requirements to send money through official channels.

The other day I stepped out of a foreign exchange and was approached by an individual asking me if I wanted to buy some forex. This was the first time in over six years I had been approached and I think it is because many immigrants do not have all the official documents to to meet the requirements to get forex.

IMHO some regulation is good but over regulation is an enabler for black markets.