Quote:
Originally Posted by RazorSharpe
No, I don't mean like your bank, I mean like THEIR bank. And no, your bank is not the only one legally meant to gather KYC info. Your bank isn't special. Banks everywhere are meant to gather KYC info for money being transferred to an unknown entity; in this case you.
Like I said, you're missing the point. The sponsor doesn't care who you are. Their bank wants to know who they are remitting funds to. How is this so difficult to understand.
How come? Because you're not sending them money. If you were sending the sponsor money, then your bank would have a right to ask you for KYC data on them.
You're not forced to send them this information. None of us are. You can quite simply choose to not deal with any sponsor who asks you to submit information you aren't comfortable sharing with them.
The only part of your message that actually makes sense to me is the safeguarding of data. This is obviously a problem, however not a problem unique to adult sponsors.
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I don't know how your company does business...but for me, when a sponsor suddenly refuses to pay if you don't do KYC (and I'm not talking about AWE...I'm referring to Cambuilder/Streamate) and they owe you money...it's total bullshit. I FINALLY got them all the details they wanted in order to promote Streamate again (after promoting it since they first opened the doors).
None of these sponsors are legally obligated in any way to do KYC. It's just not true.
As for banks...I NEVER said "only my bank". I was pointing out that if you are legal entity corporation (like every legal company is)...then you have ALREADY been put through KYC by the bank you use (the ONLY institutions required by law to do KYC).
No, the porn sponsors banks are not going to ask the porn sponsor to give them KYC info on thier affiliates. LOFL.
No bank on Earth would ever use that kind of data (which could be totally falsified by the way and is more than likely illegal to share a corporation's documents)
This isn't just about showing your ID to these companies. Maybe if you were in the game a bit more you would see what some of these companies are asking for...such as corporate documents, corporate structuring, percentages of shares, etc.
Yes, I had to provide that to Cambuilder/Streamate. Total bullshit.
Everything you are saying in this discussion is just incorrect.
ONLY a bank is legally obligated to do KYC.
Thus EVERY dollar that a sponsor pays out to a legal corporation's BUSINESS banking account is already accounted for by KYC legality.
Anything else would be useless redundancy.
I simply don't agree with it or your assessment of it either.