... They already do. You are required by law to supply a legal US identification to open a bank account. Tax man's gotta tax, right? It's for your benefit.
... They already do. You are required by law to supply a legal US identification to open a bank account.
Tax man's gotta tax, right? It's for your benefit.
Came to say this….KYC has been a thing since 9/11 or there shortly after. And don’t forget layered entities…..which most investment houses only go 4 deep. More is too difficult.
Pro tip : if you have a layered entity that is 6-7 levels deep….your good.
What is a layered entity? Company 1 and 2 start 3. 3 owns company a and b, Company b and company 2 owns company x and y Company y is the investor. That’s 4 layers of entities.
Now if terrorists or Epsteins of the world can’t just spawn more LLC paperwork, they are fucking retards.
I dabbled in AML a little.
Came to say this….KYC has been a thing since 9/11 or there shortly after.
And don’t forget layered entities…..which most investment houses only go 4 deep. More is too difficult.
Pro tip : if you have a layered entity that is 6-7 levels deep….your good.
What is a layered entity?
Company 1 and 2 start 3.
3 owns company a and b,
Company b and company 2 owns company x and y
Company y is the investor.
That’s 4 layers of entities.
Now if terrorists or Epsteins of the world can’t just spawn more LLC paperwork, they are fucking retards.
I dabbled in AML a little.