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Plus those accounts are going to be locked rather quick if large amounts start getting wired in. I imagine accounts setup to help the homeless would make poor
by Danieru 4y ago
Plus those accounts are going to be locked rather quick if large amounts start getting wired in.
I imagine accounts setup to help the homeless would make poor money mules.
Sort of the inverse situation making corporate accounts hard to get in Japan. Such an account can receive large volumes of cash without raising red flags.
- Nextgrid 4y agoUnless the rules have been tightened since then, fintechs such as Revolut and Monzo (back when it was a prepaid card) used to open accounts instantly with no KYC with low limits (which they get raised when you pass KYC), so I wonder why they wouldn't just do the same and skip the KYC step altogether.
- data_maan 4y agoIs this still happening? I feel all fintechs use KYC now. Even other services, such as Airbnb, oddly have started to use KYC.