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Great concept. Have you done much thought to factor in AMLc CTF and money laundering laws?
by ko3us 2y ago
Great concept. Have you done much thought to factor in AMLc CTF and money laundering laws?
- throwaway211 2y agoInteresting point, and how much falls between the issuer and the marketplace? For example, I could setup a fake product on ebay to facilitate payments to me. eBay shouldn't need to do CTF checks on this possibility.
- taulantmehmeti 2y agoThanks for the feedback. Because the user already has a card, it means it has been verified by the bank (AMLc, CTF, etc.), and the bank has the final say on each transaction. I based ThreadPay on the logic of "checkout as guest" when purchasing something online; in my case, you pay an individual rather than a merchant. According to security considerations, there are three layers: 1. The bank is the base layer. At any time, the bank may limit, suspend, or enforce any regulation on the user card. 2. The provider - Most payment providers, such as Stripe, have their own risk analysis products. 3. ThreadPay - based on the observation we will enforce our layer of security also. (We don’t have one at the moment)