Skip to main content

Barclays slated after CIO takes a year to open a bank account

xxx

The rigorous KYC procedures at US banks

the New Jersey-based crime ring created more than 7,000 fake identities to get tens of thousands of credit cards

From Woman Gets 3 Years for Role in $200M Credit Card Fraud Scam - ABC News

xxx

xxxx

Barclays slated after CIO takes a year to open a bank account

: "An adviser to a new charitable incorporated organisation that spent more than a year trying to open a bank account has blasted Barclays for its onerous demands and disproportionate due diligence."

xxx

In a recent survey for VocaLink, some two-thirds of respondents said that they saw value in the establishment of a central KYC utility. They are wrong. We don’t need a central KYC utility, we need a federated reputation infrastructure. Or, to put it another way, a financial services passport (as I mentioned earlier in the year).

Comments

Post a Comment

Popular posts from this blog

There is no excuse for not taking cards

So we went to the pub. For lunch. Seven of us. Say £20 per head. £100+ quid. Say £50 quid gross for the pub. Colleague goes to order food and drinks and pay at the bar. Apologetic barmaid comes over to explain that their “card machine” is down, so she can only accept cash. Under normal circumstances I would have simply walked out, feeling it wholly inappropriate to reward such a poorly managed establishment and, as a functioning actor in a capitalist economy, done my duty to depress their lunchtime takings. Here’s what we wanted to say: This is absurd. This is 2016 not 1916. Your card machine is down? Well, so what! Are you seriously telling me that mein host has no mobile phone number capable of registering for PingIt or PayM? That none of the staff or the pub itself have a PayPal account that I can send the money to? That neither the owners nor managers not contingency planners thought to tuck an iZettle behind the bar to use when the clunky and expensive GPRS terminal fails for o...
Post a Comment
Read more