FGC: I know my customers and my customers know me
Common sense kicks in following the Bitfinex Hack. Those of us involved in the cryptocurrency space right now are all certified early adopters and we wear that badge with great pride. We are individualists, a bit edgy and a bit libertarian. Because of this, companies like First Global Credit that take a hard line on the Know Your Customer rules withstand a lot of criticism. Cryptocurrency aficionados do not like the fact that we are legally compelled by international convention to understand who we do business with. But I will tell you from a life-long responsible relationship with my....
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Today the Bitcoin community was presented with great News. It seems that MTGox customers will now be able to claim their lost Bitcoin. An MTGox trustee has opened a two-way process for customers who lost their funds. MtgGox customers will be able to initiate this process either through Kraken or through claims.mtgox.com, a special MTGox platform created for this purpose only. The announcement suggests that customers can log-in into their Mt. Gox account at claims.mtgox.com to make this claim, or they can attempt to claim via Kraken. Tthe Kraken exchange was last year selected by Mt. Gox’s....
Cryptocurrency exchange Coinbase published a statement addressing their U.K. and E.U. customers, apologizing for system outages and account restrictions. The company also recognized their customer support “has not been at the levels” expected. High Flow of Incoming Customers According to the public apology, the U.S.-based crypto company said customers from both regions have been facing transaction restrictions. However, Coinbase didn’t make a direct mea culpa for its global issues, that occured precisely when volatility and velocity increased in the crypto markets.....
When the instances of overcharging and the use of “deceptive marketing” techniques to exploit customers are increasing in numbers, the decision by the federal government to order Citibank to pay $700 million to customers is exemplary. The official website of the CFPB says that 8.8 million customers will be compensated in the payout, which includes 7 million people overcharged directly by Citibank and another 1.8 million customers of the bank’s subsidiaries. The action was taken by the CFPB in coordination with the Office of the Comptroller of the Currency, which is separately ordering a....
Trading platform Robinhood has begun rolling out crypto wallets to 1,000 customers. Users can send and receive their cryptocurrencies from Robinhood to external crypto wallets, the company explained, adding that by March, 10,000 customers will be testing the wallets before rolling out to the rest of the waitlist.
Robinhood Lets 1,000 Customers Test Its Crypto Wallets
Popular trading platform Robinhood announced Thursday that its “crypto wallets beta program” is now live. The announcement details:
Starting today, we’ll begin rolling out crypto....
A German report mentions how customers of Deutsche Bank have been a victim of a double-debit. Several thousand customers have been charged twice on June 1st and 2nd. Although there is no official explanation for this debacle, a lot of clients are outraged regarding this situation. A mistake can always happen in the banking sector, but charging customers twice in as many days is rather unusual. Clients of Deutsche Bank may want to keep an eye on their statements, as several thousands of consumers have been affected by this very strange incident. Deutsche Bank Operations Are Messed Up.....