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You open an expensive listing and book it yourself to "wash" the money.
by kyruzic 4y ago
You open an expensive listing and book it yourself to "wash" the money.
- DennisP 4y agoThat doesn't seem like Airbnb's problem though. I wouldn't think that's the only reason unless the government is making them do it. That's entirely possible, but at the same time, the information they're asking for is a gold mine for marketers.
- johndunne 4y agoMoney laundering laws make it Airbnb’s problem though.
- gggggg5 4y agoMore importantly, Airbnb loses a shitload of money here.
- DennisP 4y agoI'm not convinced that money laundering laws mean someone with a legitimate business has to do intrusive data collection to police their customers. If they marketed Airbnb as a money laundering solution, that'd be different. I did say it's possible the government is pressuring them do it, but that's something I suspect Airbnb could fight if they were motivated to do so. (Chargebacks do make it their problem though, so my premise was false anyway.)
- closewith 4y ago> I'm not convinced that money laundering laws mean someone with a legitimate business has to do intrusive data collection to police their customers. If they marketed Airbnb as a money laundering solution, that'd be different. Know Your Customer laws are the reason given by AirBnB themselves: https://www.airbnb.ie/help/article/3004 https://www.airbnb.ie/help/article/3004
- DennisP 4y agoThat refers to simple KYC "such as your legal name, date of birth, or government ID." OP complained about "your bank account numbers, entire transaction history, financial data, and contact info." Normal KYC does not include all this.
- gggggg5 4y agoOf course it's Airbnb's problem. They pay the fraudsters host account via bank transfer and then get a credit card chargeback, losing whatever money they paid the host.
- DennisP 4y agoAh, right, sorry. I was thinking about money laundering in general, but chargebacks would definitely be a problem.