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This is definitely true in EU (and presumably in UK as well). If your bank doesn't like the businesses you're interacting with, e.g. gambling sites or cryptocur
by dns_snek 5y ago
This is definitely true in EU (and presumably in UK as well). If your bank doesn't like the businesses you're interacting with, e.g. gambling sites or cryptocurrency exchanges, they can close your account without notice or recourse.
And even if your account doesn't get closed immediately you are still subjected to invasive KYC procedures, even if you haven't done anything wrong. Failure to comply of course leads to your account being closed.
- f38zf5vdt 5y agoCompletely true. See "World-Check". [1] There are a number of these products and all the major banks use them to vet customers. [1] https://www.vice.com/en/article/pak7wb/exclusive-secret-blacklist-marking-innocents-as-terrorists-continues-to-grow https://www.vice.com/en/article/pak7wb/exclusive-secret-blac...