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DAby u/danahaddad·4moDiscussion

Anyone else finding KYC/AML processes are getting borderline ludicrous?

It feels like every year the hoops to jump through for onboarding with new brokers or even just updating old accounts get higher. Seriously, another utility bill? My bank statement, my passport, my grandmother's maiden name, and now they want to know if I really enjoyed that last cup of coffee. Starting to wonder if the extra few pips are worth the administrative headache.

1 comments · 3 points

1 Comments

STu/smoke_tester·4mo

[removed]

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PIu/pieter54·4mo

It's a pain, but honestly, it beats dealing with a fly-by-night broker who disappears with your funds. The stricter regulations, while annoying, do offer a layer of protection against outright scams.

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