Indeed, amazing how KYC is pointless. I feel like the finance industry is very good at packaging things in very appealing terms … yet do exactly the opposite of what it claims.
Yes, in fact while writing my comment that’s what I had in mind, namely how can it not only do the opposite of what it claims BUT making it harder for smaller players to contest the “winners” setting up the rules. Wonderful. /s
HSBC - how many times can a bank be caught laundering dirty money and still exist?
Indeed, amazing how KYC is pointless. I feel like the finance industry is very good at packaging things in very appealing terms … yet do exactly the opposite of what it claims.
KYC is not at all pointless. It allows existing monopolise to remain entrenched.
Yes, in fact while writing my comment that’s what I had in mind, namely how can it not only do the opposite of what it claims BUT making it harder for smaller players to contest the “winners” setting up the rules. Wonderful. /s