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KYC is something that BANKS are required to do.
Not porn sites and affiliate accounts.
The OP is correct. It's ridiculous.
I've had to go through this shit over and over with programs (I still promote over a hundred of them).
To tell me that they need my COMPANY PAPERS (listing of officers, incorporation papers, etc.) just to send them traffic and get paid?
It IS bullshit. And yet they do just that.
Demand to know everything about my company.
There are NO laws saying that companies have the right or legal obligation to ask for your companies paperwork in order to pay out your money to you.
Especially in my case where I have a company that is 18 years old, they have my EIN, and they pay out to my business checking account at a United States bank that already did all the KYC (as required by Federal regulations).
I honestly think that it's bad legal advice from lawyers who are over-doing it for these companies.
But if anyone here can show me a law that says my company has to show it's incorporation papers to another corporation just to get paid...please feel free.
Because if that's the case...then you would need to see the car dealerships business incorporation papers in order to pay them for a car. Or McDonalds' incorporation papers to pay them for a hamburger. It's stupid.
It's actually the people PAYING you who would be the ones needing to show where the money came from. Not the person supplying the services to be paid for (the traffic and sales).
In the end...NONE of us are "customers" to these porn sites affiliate programs. We are PARTNERS.
But again...if anyone can show one law or regulation saying that one company has to be able to go over another companies private papers in order to pay out to a Federally regulated bank account in the U.S., please show me.
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