3 ms·
I work in fintech and there's a ton of internal policies for KYC (know your customer) compliance, where we immediately terminate customer's contract and are for
by bloody-crow 4y ago
I work in fintech and there's a ton of internal policies for KYC (know your customer) compliance, where we immediately terminate customer's contract and are forbidden from revealing any information about why and what's triggered it.
I can see both sides of this process, and unfortunately, in case of an error, it's almost impossible to resolve the situation without an inside advocate who could influence the outcome and possibly correct the mistake.
- emacsen 4y agoThe important part in what you said is "internal policies", not laws or regulations. This is why we need regulation that protects people/businesses.
- bloody-crow 4y agoThose policies were created as a way to abide by laws and regulations, so I'm not sure what's your point here is.
- emacsen 4y agoI don't know which CYA laws say why you can't tell the consumer why they were rejected or not have a review process.