Your practices would leave you to vulnerable to litigation if one of your customers were laundering money or committing crimes through your service.You've done enough to survive an audit if there have been no issues, but you'd be found negligent if there are. for a while" which implies they're no longer with the company (which might be a story in its own right).I will struggle to pay my bills without the camera....sooner I get my cash back the sooner I can get a replacement camera that isn't stolen!! Pay Pal has demanded that we monitor data traffic as well as all our customers’ files for illegal content.
I worked for a financial services related startup for a while and was involved in implementing KYC/AML protections and AFAIK there isn't any relation between this and those laws.
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Still, it's good advice for others chiming in who may presently be in the same position.
You may have not realised but banks and any financial institutions have been deputised by the regulators to be the financial police.