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You could however be honest and do KYC before onboarding a customer - instead they're happy to let them run ads and end up keeping the money under the excuse of
by Nextgrid 3y ago
You could however be honest and do KYC before onboarding a customer - instead they're happy to let them run ads and end up keeping the money under the excuse of a KYC failure (which they don't have much incentive to rectify).
- Auracle 3y agoI suppose they’re afraid of the process putting a damper on signups. The middle of the road option would be to have an easy signup and then you can complete KYC at any point before your first payment.
- pyrale 3y agoApparently though, they're not afraid of the process preventing people from accessing their money. The middle road option if they want to delay KYC checks would be to have customer support available to unstuck people when the system fails.
- xboxnolifes 3y agoThe middle road is allow signup, but require KYC within a few weeks to continue using.
- NoMoreNicksLeft 3y agoI think KYC can't ever be honest because at its very foundational core it is the idea that you've let yourself willingly be deputized by the government to spy on those customers without a valid search warrant. To spy on them and report them for non-crimes, and to deny them services because the specific numbers are above arbitrary thresholds, at arbitrary thresholds, and yes... even below those. If you're already empowered by the feds to do all these things, what's a little dishonesty on top of all that? As long as you don't fuck over the feds themselves, they'll surely look the other way when bilk free advertising dollars out of those probably-terrorists.