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Do know your customer laws apply to Alphabet? I thought that was for banks. I assume Alphabet needs the info for tax purposes though due to needing to report
by lotsofpulp 2y ago
Do know your customer laws apply to Alphabet? I thought that was for banks. I assume Alphabet needs the info for tax purposes though due to needing to report payments and issue 1099s.
- lmz 2y agoWell you wouldn't want Youtube to pay e.g. terrorists (or other sanctioned entities) for their videos, so wouldn't it make sense for them to try and get a name then run a sanctions check on the name?
- lmm 2y agoAny sufficiently large company ends up being pretty much everything. Google is almost certainly a money transmission service (among other things) given that Google Pay exists, and they probably run YouTube payouts through the same legal infrastructure.
- makeitdouble 2y agoThe PSP doing the transaction will require Google to guarantee the transaction is not fraudulent and they can legally justify who is paid for what. Anonymousity of the end recipient can't work in the traditional money transfer model