Ann: Appendix 4C with ASX Direction Included, page-97

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ace_beef

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05/05/20

22:21

Post #: 44451920
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Originally posted by aniesbaswedan: ↑

What I am pondering is why would online video games require any AML or KYC? Why? For what purpose?

If you are a merchant selling physical inventories, okay, maybe you are afraid of charge back. There is still some modicum of logical sense to it. If you are a financial product provider, okay, yeah sure. When it comes to online video games though, there is no physical inventories nor is there any financial regulation to meet. So why would you need AML or KYC? Can anyone explain that? So for what reason do you run any payments AT ALL through ISX's services? The way I see it, no logical sense whatsoever.

So why would say online video games run through say ~1.5 billion through ISX?? Why??

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I would assume in this instance, the KYC process allows online video games to sell currency or in game items to people while avoiding processing payments from stolen cards and therefore avoiding chargebacks - that's the basic point of KYC right? Why would this reasoning be any different for an online video game as compared with physical goods ordered online or any other 'card not present' transaction?

ISX Price at posting: $1.07 Sentiment: None Disclosure: Held
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Ann: Appendix 4C with ASX Direction Included, page-97

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