this post was submitted on 16 Aug 2023
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Online banks use this method. I am not happy with this either. It's government-regulated, so OK (sort of).
A social media site? No, thank you.
Banks are usually bound by KYC (know your customer) laws and are required to verify your identity. Imagine trusting some random third-party company with your photo ID though... Insane.
actually, two companies.
you give up your id forever to an id verification company + twitter stores it for 30 days
Well it's obvious that Musk wants X to be a bank, so this isn't unexpected.
Banks have significantly stronger security and PII measures than X ever will, as well.
yeah, that's obvious. you need a photo of your id in order to open a bank account...
they usually process the data on their own though without using third parties