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Kinda depends on how you define "accountability" of course, but rejecting paying customers is usually frowned upon in business. You want your KYC processes to b
by WJW 1y ago
Kinda depends on how you define "accountability" of course, but rejecting paying customers is usually frowned upon in business. You want your KYC processes to be conservative enough not to get fined, but not so conservative that you lose out on potential revenue.
If you're too far off on either side, you either get fined by whatever regulator you fall under, or you get fined by the stock market because your competitors are more profitable.
- f33d5173 1y agoClosing 1% of accounts instead of .1% of accounts for kyc reasons won't affect your revenue enough to matter to the stock market.
- csomar 1y agoIf you are closing 1% of your accounts every year, then you'd better be growing at more than 1% per year just to break even. If you don't have an appeal process, you'll eventually restrict everybody: Given enough time, some business/person will eventually do a weird transaction that flags them out.