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KYC/AML law only apply to financial institutions.
by josu 11y ago
KYC/AML law only apply to financial institutions.
- aianus 11y agoThat's not true. If you're, say, a car dealership and Walter White comes in with $50,000 cash looking to buy a car, you are required to file a Currency Transaction Report with the federal government.
- josu 11y agoSorry, you are totally right, I was meaning to write a longer comment mentioning the exceptions outside of the financial world.