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To get this personal information, asking for government-issued ID gives them one more data point on you and reinforcement of identity. So a win for them as well
by prats226 7y ago
To get this personal information, asking for government-issued ID gives them one more data point on you and reinforcement of identity. So a win for them as well I guess?
- jjtheblunt 7y agoThis might be entirely legit, and legally mandated. https://www.sec.gov/fast-answers/answersbd-persinfohtm.html https://www.sec.gov/fast-answers/answersbd-persinfohtm.html It sounds like "KYC", i.e., know your customer.
- freen 7y agoKYC is only to prevent banking fraud, i.e. money laundering. The SEC is the Securities and Exchange Comission, who govern banking, the trade of financial securities (stocks, bonds), etc. These data brokers do not handle your money, and therefore do not need to "know their customers", i.e. have no legally mandated right to ask for your identification, at least according to this statute. For one, I think it's super weird that they need a government issued document to know who I am, but are perfectly happy to sell my data, marketed as accurate, to third parties.