Quote:
Originally Posted by Adraco
And then comes a fair question about Know-Your-Customer requirements. Yes, it's easy to say or play the don't know-anything-'til-it's-brought-to-out-attention card, but aren't there regulations for what you, as a payments/money handler/processor/bank and other institutions handling large money streams are REQUIRED to ask and know, document about your clients?
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You are referring to the Patriot Act bullshit that financial institutions must follow now. Including asking you about your bank wire, have you done business with them before, etc. and so forth. My bank does the same thing. Or did before I received approval from their treasury so I could send wires from my office, versus having to go into the bank branch. However, before that I would be asked those same questions for every manual bank wire I would send, yes.
That being said, CCBill is not a financial institution that is regulated by the government. You can argue that their merchant banks are, and that is who they are running their cards and shit through. But to the merchant bank, their "customer" is CCBill.
