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Weird how they let you fund your account and make trades, then, but only have an issue upon withdrawal.
by heavyset_go 4y ago
Weird how they let you fund your account and make trades, then, but only have an issue upon withdrawal.
- bigiain 4y agoIf you want to read that in the most favourable light, perhaps that's more AML/CTF regs. You can't be laundering money or funding terrorism until you try and get cash _out_ of your account. But like others are saying, there's ample evidence that Robinhood are despicable, so they sure as hell don't deserve and favourable interpretations of their trashier policies...
- heavyset_go 4y agoObfuscating how the money enters the system and is transferred is a crucial part of laundering, so I'd disagree that laundering only happens upon withdrawal.
- fragmede 4y ago”Weird”. It’s an intentional UX design/friction thing. Hopefully their lawyers signed off on the interpretation of anti-money laundering laws is that they don’t count until the user tries to withdraw money.
- heavyset_go 4y agoYes, that was the subtext of my choice of words.