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KYC / AML Questionaire. What's the least complete info I can give them?

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GrumpyGladiator

New member
I've had a holding at a brokerage for over 10 years go under review. Probably due to inactivity.

They're asking for 'My employer' and want to know why I'm connecting from a country that doesn't match my mailing address.

I'm living in another country, working 2 part time jobs, running my own business and doing some private consulting. I keep my mailing address with every institution that I possibly can. Because of this, I've managed to have one address all my life. This keeps paperwork easy.

I don't really want to complicate things by giving these guys any more info about myself than I have to.

What info should I give them? Give them my own company info and file myself as an employee there? This is true. Or maybe give them one of the companies I'm working for.
I think I have to give them a new address in the country I'm living in. That seems to be the main problem for them. Maybe I can give them an address here to shut them up but keep the mailing address the same.
 

JackAlabama

Entrepreneur
It would be interesting to mention what kind of gestapo bank goes to these lengths to track your ip when using the online banking?
Personally no bank I deal with did ever care much about it, however some force me to have somewhat larger deposit for offsetting offshore setup.

It looks to me they want to do crs reporting according to indicia to where you have always logged in (ip of your logging in country).
 

Sols

Staff member
Mentor Group Gold
Whatever you give them, you need to be able to provide adequate supporting documents for in case they ask. If you can do that and only giving your own company info (meaning your level of wealth/income more or less matches what your company makes), it's probably rather low risk to omit your other employments.

Sometimes it's worth sacrificing a little of your privacy or convenience to keep banks happy. You don't want to be on the receiving end of a bank thinking you're dodgy and withholding information.

It would be interesting to mention what kind of gestapo bank goes to these lengths to track your ip when using the online banking?
They all do. The data is there for them, should they ever need or want it. Regulatory guidelines may vary, but it's generally understood that IP and device location are things banks can use to assess a customer's location for tax/residence purposes.

It looks to me they want to do crs reporting according to indicia to where you have always logged in (ip of your logging in country).
That's the way the world is headed. Some banks are further ahead than others.
 

dimitri

New member
They're asking for 'My employer' and want to know why I'm connecting from a country that doesn't match my mailing address.

Some simple advice: Always use a proxy/VPN. I have my banking apps on a phone with an "always on VPN" connected with my home country. And you should also block access from these apps to the location of your phone. It's a small effort that can save you a lot of hassle.

And if you do not want to invest in an extra phone, you can also delete the apps from your phone and make it a habit to only connect with your laptop and use a VPN when banking online.
 
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