4 ms·

Trying to find a way to tip toe around KYC, whilst keeping their customers safe, has also turned out to only use insanely stupid methods, though. So why did the

by shakna 3d ago

Trying to find a way to tip toe around KYC, whilst keeping their customers safe, has also turned out to only use insanely stupid methods, though. So why did they already do that?

orf 3d ago
FYI it turns out that humans are pretty bad at comparing faces to ID documents. Like, really quite bad. Automated methods, like the ones Revolut use, are significantly more effective at KYC than a Jane Doe working a 9-5 at a bank. In no way is it “tip-toeing around KYC”, and while really unfortunate leaking a selfie is pretty low down on the list of “bad stuff a bank could leak”. The implication that the solution to this is to somehow convince your direct competitors to do inferior in-person KYC for you is the most ridiculous thing.
- sillyfluke 3d ago
  >The implication that the solution to this is to somehow convince your direct competitors to do inferior in-person KYC for you is the most ridiculous thing. People work with their competitors all the time (see Netfix vs Amazon). Whats ridiculuous is the claim that a scammer would prefer to show up physically at a bank and risk being exposed instead of operating remotely. >leaking a selfie is pretty low down on the list of “bad stuff a bank could leak”. don't some of them require a selfie while holding legible official documentation?
  - orf 3d ago
    No, it’s most certainly patently ridiculous. > Whats ridiculuous is the claim that a scammer would prefer to show up physically at a bank and risk being exposed instead of operating remotely. Of course they wouldn’t prefer to show physically. What does that mean though? Are you saying no scammers showed up physically to banks, therefore banking fraud rates are less? Do you have a source for that? > don't some of them require a selfie while holding legible official documentation? You can of course do KYC as stupidly as you like (zoom calls anyone?) - Revolut (and their providers) obviously separate document presentation from the liveness check (and fyi this is a short video, not a selfie. The selfie they are talking about is just a capture from the video)

by shakna 3d ago

Trying to find a way to tip toe around KYC, whilst keeping their customers safe, has also turned out to only use insanely stupid methods, though. So why did they already do that?

orf 3d ago

FYI it turns out that humans are pretty bad at comparing faces to ID documents. Like, really quite bad. Automated methods, like the ones Revolut use, are significantly more effective at KYC than a Jane Doe working a 9-5 at a bank. In no way is it “tip-toeing around KYC”, and while really unfortunate leaking a selfie is pretty low down on the list of “bad stuff a bank could leak”. The implication that the solution to this is to somehow convince your direct competitors to do inferior in-person KYC for you is the most ridiculous thing.

sillyfluke 3d ago
>The implication that the solution to this is to somehow convince your direct competitors to do inferior in-person KYC for you is the most ridiculous thing. People work with their competitors all the time (see Netfix vs Amazon). Whats ridiculuous is the claim that a scammer would prefer to show up physically at a bank and risk being exposed instead of operating remotely. >leaking a selfie is pretty low down on the list of “bad stuff a bank could leak”. don't some of them require a selfie while holding legible official documentation?
- orf 3d ago
  No, it’s most certainly patently ridiculous. > Whats ridiculuous is the claim that a scammer would prefer to show up physically at a bank and risk being exposed instead of operating remotely. Of course they wouldn’t prefer to show physically. What does that mean though? Are you saying no scammers showed up physically to banks, therefore banking fraud rates are less? Do you have a source for that? > don't some of them require a selfie while holding legible official documentation? You can of course do KYC as stupidly as you like (zoom calls anyone?) - Revolut (and their providers) obviously separate document presentation from the liveness check (and fyi this is a short video, not a selfie. The selfie they are talking about is just a capture from the video)