What is the purpose of providing proof of income?
- Thread starter Grayson1303
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I assume its a bank or other financial institution that is asking.
In that case, the purpose is that they can "comply" with "regulations" to be able to demonstrate your money is "legitimate" from their point of view.
It was meant to stop "money laundering" and it for sure doesn't work.
In that case, the purpose is that they can "comply" with "regulations" to be able to demonstrate your money is "legitimate" from their point of view.
It was meant to stop "money laundering" and it for sure doesn't work.
If you need the bank, FI, or whoever is demanding this info, you may need to comply, otherwise, move your money and tell them to f*ck off! I find any of these requests a complete disrespect!
Personally, I refuse to disclose anything about me or my business but to each their own.
Bitcoin, ETH, Monero, DAI, USDT, USDC, XNO etc etc, hereinafter cryptos, never ask me for anything. "Cryptos" don't even have my name, phone number, or address. 😉
Very true with the cryptos, sadly if you need a bank to accept your application, you will need to provide some sort of information and documents.
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