Here is a simple test for leakage currents.
Take a normal SMPS. Assume it is "floating" with respect to the ground.
Take a 0.5mA-1mA/1.2V LED (very common on ebay).
Ground its cathode.
Now connect a wire from the power supply's DC output to the LED's anode. Either the positive or the negative wire, it makes no difference.
The LED lights up.
Now put your body in between DC output and LED, say left hand touches power supply's output (positive or negative, makes no difference), right hand touches LED.
LED also lights up (you may need to wet your fingers).
Yes the current will go through your heart. You can also try with one hand, the other behind your back. But you get the point.
Verdict: there are leakage currents enough to light up an LED, leaking from from positive and negative terminals of the SMPS.
Verdict 2: without a mains isolation transformer, how are we certain that some component will not give up and suddenly we get a bit more than "leakage" currents on either of the output terminals?