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Originally Posted by fuzebox
Well no, I own sites and products and process credit cards with a handful of banks, who every year give me a list of stricter and stricter requirements to keep the whole ship sailing forward. If you aren't immediately replying with the documents my bank asked from me, I am going to bid you goodbye and protect my very real business that feeds my family.
I don't enjoy having to play by these rules, but this is the industry we work in and the reality of doing millions in revenue in adult.
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You don't even make sense. If people don't reply to your bank with documents you are bidding people goodbye? Huh? What? So because your bank did KYC on you, that means everybody should have KYC done on them for everything?
My bank did KYC on me, too. What I'm talking about is having to go through KYC for AFFILIATE ACCOUNTS.
Can anybody on here define what money laundering is? Can anybody on here describe the purpose behind KYC? So aside from how right or wrong KYC is on a more abstract basis (once upon a time, we could even bank without KYC), just going by the exact definitions and purposes used to justify KYC.
I quote directly from CCBill's own website:
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KYC is an abbreviation for Know Your Customer. KYC guidelines are part of a broader international effort to combat tax evasion, money laundering, identity theft, and other criminal activities.
In a business-to-business (B2B) environment, financial organizations must perform due diligence and verify the identity of their customers before entering into a business relationship.
Implementing KYC guidelines enables financial institutions to prevent criminals from using their services and concealing the origin of their earnings.
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From another site:
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What is KYC & AML? The Know Your Customer (KYC) process is performed to verify the identity of new customers, and to prevent illegal activities, such as money laundering or fraud. KYC is undertaken as part of Anti-Money Laundering (AML) requirements.
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The definition of money laundering:
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Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
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I make NO deposits of any kind into my CCBill AFFILIATE ACCOUNT, nor my Gamma AFFILIATE ACCOUNT. If cash were to flow, it's flowing unidirectionally from CCBill to me. Being an affiliate webmaster is wholly different than banking, where a person makes deposits. Again. CCBill is the PAYOR. The affiliate webmaster is the PAYEE. If the origin of affiliate commissions is illicit, that's because CCBILL IS ILLICIT! Quite frankly, the more I think about the ABUSE OF KYC by entities like CCBill, the more I start to actually believe CCBill is engaged in criminal activity. The people on this forum going through mental somersaults to excuse KYC'ing AFFILIATE accounts aren't even applying definitions correctly. KYC'ing AFFILIATE accounts is serious mission creep.
KYC is absurd for even a CCBill merchant account, being a merchant account with CCBill is not used for unlimited purposes. In fact, CCBill even screens its merchants, collecting information on what kind of business activity the merchant is involved in. To ensure no illegal activity is occurring (with an ever evolving definition of legal and illegal behaviors) all CCBill needs to do is confirm what activities are triggering payments. Period. As a CCBill merchant, you don't make open ended deposits into the CCBill merchant account. CCBill is a payment processor. So the only information CCBill really needs to know is what goods and services its merchants are selling. To be clear, up to this point, I have been talking about AFFILAITE ACCOUNTS. CCBill is doing KYC on AFFILIATE ACCOUNTS, which is even more absurd.
Think about how retarded some of the people on this forum are. They justify CCBill running KYC on AFFILIATE ACCOUNTS, so that AFFILIATE WEBMASTERS can refer traffic to CCBill's own merchants that CCBill already did KYC on, in order to get paid funds by CCBill that originated with CCBill and would be deposited by the affiliate into a BANK that did KYC on the very same affiliate. And people are just fine with that. And right on CCBill's own website, CCBill even talks about how identity theft goes together with illicit activities, which CCBill even cities as another justification for the very unnecessary KYC that results in the proliferation of personal information, faciliting the very same identity theft they are supposedly trying to curtail. The mental somersaults some of the people on this forum go through to excuse all this is breathtaking!