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Who else? Why would they not go after payments companies? They...

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JCoure

35,493 Posts.

918

07/09/24

15:54

Post #: 75574919
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Originally posted by Tekvest: ↑

Might be? Why? Why would they go after payments companies?

In the main ZIP pays merchants on behalf of customers then accepts repayment of loans. Alternatively it gives cash advances and accepts repayments.

Prior to opening an account ZIP follows 100 pointscore / KYC (Know Your Customer) proceduresrequirements. It trains its staff in Anti Money Laundering and Counter Terrorism Financing risk assessment and compliance, and maintains education programs in identifying suspicious activity. It uses facial biometrics to identify customers and prevent fraud and also single use cards to prevent identification of a customer's main account identifiers. It is required to keep and maintain full records indefinitely.

You're probably aware that the maximum penalty to ZIP for breaching the AML / CTF laws is $31.3 mil (100,000 penalty units). And what breaches can you identify/ Or do you just think they might because you don;t like them? Why fixate on AUSTRAC? The same legislation exists in the US and in NZ - why whould they not be doing the same there? Have you got it in for them there too?

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Who else? Why would they not go after payments companies? They go after banks because banks do payments.

ZIP Price at posting: $2.12 Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last $2.87		Change -0.005(0.17%)		Mkt cap ! $3.786B

Open	High	Low	Value	Volume
$2.83	$2.99	$2.83	$28.81M	9.861M

Buyers (Bids)

No.	Vol.	Price($)
47	77337	$2.86

Sellers (Offers)

Price($)	Vol.	No.
$2.87	140784	33

View Market Depth

No.	Vol.	Price($)
42	86252	2.860
39	310724	2.850
27	233397	2.840
34	424158	2.830
43	270768	2.820

Price($)	Vol.	No.
2.870	85196	27
2.880	164715	28
2.890	207792	21
2.900	271928	18
2.910	246597	10

Last trade - 15.48pm 18/10/2024 (20 minute delay)

ZIP (ASX) Chart