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Ann: 2019 AGM CEO Presentation, page-56

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Sharespike

1,544 Posts.

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13/11/19

14:02

Post #: 41401161
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Originally posted by ben79: ↑

Thanks @bedger. It's well known that APT use illion, however this wasn't always the case. Hence my point about known gap. They onboarded customers for a period of time without any kyc.

My personal view on online identity verification is that it's inherently limited. How do you actually verify the persons identity here? Biometrics, sca? Apt does none of that.

The lack of friction at onboarding does suggest that there is no verification ahead of account set up.

Despite the above, I dont think AUSTRAC's interest is about kyc. The risk is with the merchants. The service is low risk from an individual consumer perspective.

The legislation and expectations are much broader than kyc. I'd bet it's about the additional monitoring and reporting or the kyb.

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Certainly some interesting and valid points raised.

More generally, in respect of the verification process (biometrics, sca etc) are you able to provide any insights on to similar organisations that provide this type of verification?

APT Price at posting: $29.06 Sentiment: Buy Disclosure: Held
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