Let me tell you in an unfiltered way that this is bullshit. I don't care about language. Downvote me or report this if you like but this is literally the kind of bullshit that makes the world a terrible place.
Big money laundering and state wide unethical operations always find a way to operate on the clear financial system. You are probably using some shinny brand device bought from a famous company that contains parts made by slave labor in a certain region of a certain country.
AML/KYC only affect small people. To comply with those regulations is expensive and time consuming and the punishments are heavy so its better to just remove anyone who has a slight hint of suspicious activity.
Because banks are terrified of being punished by governments they will kick honest person out of the system because they've sent money to their mother in some war thorn Middle East country. Thats it. You are banned from the platform with no right to appeal.
For fuck sake. You live in a world where Snowden is a fugitive, Assange is sickened in Jail and the literal criminal Christine Lagarde is the god damn president of the European Central Bank! YOU need to stop fantasizing.
this is woefully inaccurate. Like, seriously wrong. parent comment was on point.
I can tell you, as someone who works in finance, that KYC rules are taken very, very seriously. The bigger the client, the more important they become. There is harsh punishment from both my company if not the government if KYC processes aren't followed correctly. Losing your job is the least of your worries if you're complicit in a case like that.
> The bigger the client, the more important they become.
Yet accountability is so great for big offenders that one day they might preside over the European Central Bank.
> There is harsh punishment from both my company if not the government if KYC processes aren't followed correctly.
And that's why banks will just kick Amir who has only 3000 EUR on his account out of the platform. Why risk such a heavy punishment for a poor bloke?
I invite you to visit the reddit pages for N26, Revolut and similar banks. I don't think those threads about accounts being closed without justification are made by terrorists and money launderers.
It's big of you to admit, but you'll pardon me if I take what you say with a grain of salt when you tell me the extremely problematic industry you work in definitely is not a problem. You have a vested interest to believe this.
Big money laundering and state wide unethical operations always find a way to operate on the clear financial system. You are probably using some shinny brand device bought from a famous company that contains parts made by slave labor in a certain region of a certain country.
AML/KYC only affect small people. To comply with those regulations is expensive and time consuming and the punishments are heavy so its better to just remove anyone who has a slight hint of suspicious activity.
Because banks are terrified of being punished by governments they will kick honest person out of the system because they've sent money to their mother in some war thorn Middle East country. Thats it. You are banned from the platform with no right to appeal.
For fuck sake. You live in a world where Snowden is a fugitive, Assange is sickened in Jail and the literal criminal Christine Lagarde is the god damn president of the European Central Bank! YOU need to stop fantasizing.