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> My bank now, to comply with AML rules, has a yearly KYC process that keeps getting more and more annoying, requiring more paperwork, a lot more of my time to
by Aaargh20318 3y ago
> My bank now, to comply with AML rules, has a yearly KYC process that keeps getting more and more annoying, requiring more paperwork, a lot more of my time to fill that paperwork and me feeling like a criminal
What paperwork would they even need for this? All they need to do is confirm the identity of the account holder. You either show up at their office and show your passport or ID card, or you do it remotely. This should not take more than 2 minutes.
- anonzzzies 3y agoI don’t live in the same country and the country I live in is not english language. So everything has to be translated and notarised. Like proof of address for all shareholders etc. It’s a pain and definitely not 2 minutes.
- Aaargh20318 3y agoFor a company, sure, I can understand that, but that's just part of doing business. For a consumer it's a non-issue.