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I'm familiar with KYC. KYC is actually the very reason why Robinhood customers should not be required to re-verify their identity because it stipulates that ins
by acaloiar 4y ago
I'm familiar with KYC. KYC is actually the very reason why Robinhood customers should not be required to re-verify their identity because it stipulates that institutions both acquire and retain the identity information of their customers.
With that said, my qualms are not with the fact that I had to re-verify; simply the manner in which it happened.
The fact that they re-requested my identity tells you that this verification process was not in support of their KYC obligation, but likely a fraud-prevention mechanism. Which puts the manner in which it happened entirely within their control from a product perspective.