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Firstly, you seem to be conflating "know your customer"/anti-money-laundering stuff with "please explain why you're wiring this money because we don't want you

Firstly, you seem to be conflating "know your customer"/anti-money-laundering stuff with "please explain why you're wiring this money because we don't want you to get scammed" But let's assume you're 99th percentile and won't get scammed or will own up to it and eat the loss (talk is usually cheap and plentiful on that point). I'm not sure how often you interact with the general public but suffice it to say that the "expected value" of banks asking why their clients are performing an unusual and largely irrevocable transaction (in contrast to paying a merchant with a credit card) is probably pretty good, just like a cashier asking why you're spending hundreds on Apple gift cards. But also you're assuming that it's always going to be "you" that they are asking: if your account was compromised (and everyone thinks they're too smart to be tricked), should it be easy for someone to just wire all the money out, aaaaaand it's gone? That's separate from KYC/AML, which I think is a trickier issue. I will say this though, if a bank showed me the door and I had to take my money elsewhere, that would be less problematic than one of the tech giants capriciously deciding to close my account, which I think illustrates the larger issue about a lack of recourse for being arbitrarily locked out of commerce with private businesses in disruptive ways. Itself a cousin of terms of service that force you to give up rights, and can be changed at any time As an aside, I don't think you need to make sneering personal attacks to make your points

antonvs 7d ago
> Firstly, you seem to be conflating "know your customer"/anti-money-laundering stuff with "please explain why you're wiring this money because we don't want you to get scammed" Do you have any way to back that up? Because the question about what the transfer is for is pretty clearly an AML question. > should it be easy for someone to just wire all the money out, aaaaaand it's gone? Yes, you have to resort to extreme cases to try to support your point. That wasn't what I was talking about. > I will say this though, if a bank showed me the door and I had to take my money elsewhere, that would be less problematic Yes, when you have unimaginable levels of privilege, life seems very simple to you. Go and read articles like https://medium.com/@Srikantranjan/the-hidden-risk-why-the-global-banking-system-is-quietly-freezing-innocent-accounts-fc4a37445af8 https://medium.com/@Srikantranjan/the-hidden-risk-why-the-gl... or https://www.newsweek.com/institutions-are-freezing-innocent-users-funds-12182533 https://www.newsweek.com/institutions-are-freezing-innocent-... if you want to get some real information about what the "general public" has to deal with, you elitist prick. > As an aside, I don't think you need to make sneering personal attacks to make your points You're defending the actions of a reprehensible and despicable regime with ridiculously simplistic “think of the children” style arguments that doesn’t even attempt to address the points I’ve raised. You didn't even respond about the guilty until proven innocent point. Perhaps you're just blitheringly ignorant and lack the cognitive capacity to recognize that, but from where I stand you deserve far worse than I've given.
- anonymars 6d ago
  > if a bank showed me the door and I had to take my money elsewhere Banks are required to return your money to you if they close your account. I wasn't talking about the various ways in which funds might be frozen (which go far beyond KYC/AML), for which my only point there was that merely being asked about a wire transfer was not it. Not all banks even ask in all situations "Could I have misinterpreted the other person's point? Nah, they must be an 'elitist prick'" > from where I stand you deserve far worse than I've given Maybe next time take a deep breath and count to 10. Best of luck to you.

antonvs 7d ago

> Firstly, you seem to be conflating "know your customer"/anti-money-laundering stuff with "please explain why you're wiring this money because we don't want you to get scammed" Do you have any way to back that up? Because the question about what the transfer is for is pretty clearly an AML question. > should it be easy for someone to just wire all the money out, aaaaaand it's gone? Yes, you have to resort to extreme cases to try to support your point. That wasn't what I was talking about. > I will say this though, if a bank showed me the door and I had to take my money elsewhere, that would be less problematic Yes, when you have unimaginable levels of privilege, life seems very simple to you. Go and read articles like https://medium.com/@Srikantranjan/the-hidden-risk-why-the-global-banking-system-is-quietly-freezing-innocent-accounts-fc4a37445af8 https://medium.com/@Srikantranjan/the-hidden-risk-why-the-gl... or https://www.newsweek.com/institutions-are-freezing-innocent-users-funds-12182533 https://www.newsweek.com/institutions-are-freezing-innocent-... if you want to get some real information about what the "general public" has to deal with, you elitist prick. > As an aside, I don't think you need to make sneering personal attacks to make your points You're defending the actions of a reprehensible and despicable regime with ridiculously simplistic “think of the children” style arguments that doesn’t even attempt to address the points I’ve raised. You didn't even respond about the guilty until proven innocent point. Perhaps you're just blitheringly ignorant and lack the cognitive capacity to recognize that, but from where I stand you deserve far worse than I've given.

anonymars 6d ago
> if a bank showed me the door and I had to take my money elsewhere Banks are required to return your money to you if they close your account. I wasn't talking about the various ways in which funds might be frozen (which go far beyond KYC/AML), for which my only point there was that merely being asked about a wire transfer was not it. Not all banks even ask in all situations "Could I have misinterpreted the other person's point? Nah, they must be an 'elitist prick'" > from where I stand you deserve far worse than I've given Maybe next time take a deep breath and count to 10. Best of luck to you.