emmett 

Thanks Mike, you obviously know a lot about this. What are the risks with Transferwise? I'm keen to understand a bit more. Cheers

It's not about TransferWise. It's about keeping your money at an FCM that violates standard rules and practices. Your money is not insured, you are trusting them to act responsibly. Which means you want above-board responsible actions.

Again, I'm not an attorney or an FCM nor am I the NFA, so I can only speculate that it is wrong for any FCM to accept borderless bank transfers due to KYC/AML laws. While I feel certain I'm right, I cannot state it definitively.

Anyone else care to shed light?

And Emmett I believe it would be appropriate to change the thread title to borderless transactions KYC/AML to better reflect what's being discussed.

Mike

Big Mike 

And Emmett I believe it would be appropriate to change the thread title to borderless transactions KYC/AML to better reflect what's being discussed. Mike

Hi Mike, please note that my conversation with AMP related specifically to Transferwise and them alone.

I can't speak to AMP's policies around other "borderless transactions" or such providers. There could be marked differences in the way various providers operate.

Cheers

If TransferWise has KYC/AML rule sets in place wouldn't that suffice?


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