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> use e-money services up to the amount that triggers the KYC process. I forget what that is, but probably a few hundred dollars. Just FYI this is not viable b
by traceroute66 3y ago
> use e-money services up to the amount that triggers the KYC process. I forget what that is, but probably a few hundred dollars.
Just FYI this is not viable because the limit is cumulative. So you can't just fly under the radar with a bunch of small transactions. Once you hit the KYC limit, ID becomes mandatory.
- n8ta 3y agoIt's also a crime to organize transactions in this way https://en.wikipedia.org/wiki/Structuring https://en.wikipedia.org/wiki/Structuring
- i_have_an_idea 3y agoDid you read the article that you linked? There is nothing illegal about using an e-money service for a few small transactions. When you eventually reach the cumulative amount that triggers the KYC process, you are under no obligation to complete it and refusing to do so is not "structuring". Of course, they will suspend your account until you're in compliance with their KYC process.
- i_have_an_idea 3y agoI didn't mean to imply that it's per transaction.