“Well mam, down at the Elks Lodge they call me Dexter”.

She’s an idiot. Here’s their policy.

“Citi's Know Your Customer (KYC) Program
New U.S. Regulation Requires Increased Customer Identification and Documentation

Effective May 2018, a new rule issued by the Financial Crimes Enforcement Network (FinCEN) will require financial institutions in the U.S. to identify and verify "Beneficial Owners" of entities when opening new accounts, unless they fall within certain recognized exceptions under the rule (see FinCEN's Final Rule and FAQ).

What Does This Mean for Citi Clients?

Citi will be required to collect additional information and documentation for (i) any individual who owns 25% or more, directly or indirectly, of an entity customer, and (ii) a single individual Controlling Person of an entity customer, such as a CEO.

Citi will also need to collect:

Both date of birth AND residential or business address; and
A Government-issued identification number (for a U.S. person, a Social Security Number)
The person providing the above information to Citi will also need to certify, to the best of his or her knowledge, that the information provided is complete and correct.

The new rule will also require that Citi verify the collected information. As a result, Citi may need to request a copy of a driver’s license, passport or other similar photo identification.”

https://www.citibank.com/tts/a...ur-customer-program/

I don’t like BOA, but still have a card. I let them send me offers & statements, only do one charge when they are/were about to cancel me for lack of use.

I even cut up my card & sent half in last time I used it, 2nd in file for wife is available.

I just leave it sit unused, $22k credit available. I may cancel it eventually, but will leave it sit longer. My last charge was in Nov.

KYC is for identification purposes, not for interrogating customers on why they bought what thet did.

Another take:

At any time during your conversation did this Karen ask you for any of your credit card information?

Not saying with any certainty that this is a bogus call, but online merchants HAVE been known to get hacked from time to time. Under the guise of "KYC", a hacker could've been phishing for more sensitive info that your e-tailer doesn't store within their system, or that they couldn't readily steal or access during their hack. If you've Caller ID you could always try a reverse search on that phone number, though if it WERE a hacker it's probably faked or stolen anyways, but it's worth a try to make sure it really was Citibank that was calling.

I'd keep an eye on your credit card's balance, just in case.

quote:

Originally posted by RichardC:

quote:

Originally posted by GWbiker:
Down my way, from my experience with them, we refer to them as "Shitty Bank".

So did Sean Connery.

WIN

quote:

Originally posted by monoblok:

If you've Caller ID you could always try a reverse search on that phone number . . . it's worth a try to make sure it really was Citibank that was calling.

Scammers can spoof Caller ID.

I'll bet you this was some new employee eager to make her mark but she just cost her company a customer.

I'd follow up with Citibank and demand to know who this was and let them know their idiot employee is not following their own program properly and you are now out because of it.

quote:

Originally posted by sourdough44:
only do one charge when they are/were about to cancel me for lack of use.

Make sure it's for less than $1.

"I only have one meat freezer".

quote:

Originally posted by Sailor1911:

quote:

Originally posted by apprentice:
"Well, all these bodies aren't going to cut themselves up."

x2 That would be hilarious.

quote:

Originally posted by K0ZZZ:

quote:

Know Your Customer Program

Yeah this is another government thing.
https://en.wikipedia.org/wiki/Know_your_customer

Pay attention, all these People who wish for a cashless society and scoff when we tell them it's not a good idea.

One day, your purchases will be uploaded, along with your bank deposits, withdrawals, transfers and payments to the feds, and they are going to tie it to your income statement from your employer, and e-cash transfers from others to your account from private sales, then compare it to reported income on your taxes.

Everything you do will be on record, those orders from out of state, bingo reported, tax bill sent, $1000 for the Sig you sold, boom, reported as income, nothing will be private regarding financial transactions, and it will be done in the name of national security, drug war, foreign interference and making sure you pay your fair share...

Stow the "if I'm not doing anything wrong" argument, doesn't work, in America, you shouldn't be watched unless they have suspicion and a warrant.

Sadly like we learned with COVID, many Americans they'll willingly give up rights and privacy for some silly convenience and security..

The day is coming that your driving habits, mileage, daily commute, route you take, speeds you drive are uploaded to the insurance company
from your new Tesla, Mustang-E, Chevy Silverado, Toyota, whatever. You'll sign a EULA when you start the vehicle, or it won't start, stating that they can share
any and all data from your car, the data they will own, and sell to the government for safety, the insurance for rating, the police to watch your driving in areas or, under new laws, automated ticketing for illegal parking, speeding, unsafe maneuvers, warranty claims.

Me? I'm gonna use cash, carry a revolver, cruise the streets in a 69 shackled up GTO, they'll never find me!

quote:

The day is coming that your driving habits, mileage, daily commute, route you take, speeds you drive are uploaded to the insurance company from your new Tesla, Mustang-E, Chevy Silverado, Toyota, whatever. You'll sign a EULA when you start the vehicle, or it won't start, stating that they can share any and all data from your car

I was annoyed when I found out that my Ford Edge was phoning home. That was a couple years ago, I did a bit of internet searching and found out how to disable this intrusive "feature."

Tesla just did it, to prove that an accident wasn't their fault, it was in China, where a Tesla 3 owner claimed brake failure.

Link

To protect the company from bad press, lawsuits, and the Chinese Government, Tesla released the data on her car showing the brakes worked and slowed her down, that she was driving at a high speed, and that she'd used the brakes without issue some 40 times previously.

So it's not simply about selling data, but protecting the company, all manufacturing companies are going to go this route, just like an app on your iPhone, you will have to agree to the EULA each time you fire up your 4 wheel PC or it's not going to start. From which the EULA will allow them to publicize and collect/share your driving data.

People will press that Accept Terms and Conditions button every time, because they have been conditioned to it with iPhones etc...

Wait until you get condoms with BT....

Funny watching Charlies Angels last night one of the characters, when responding to combining a GPS company services with a voice imprint program on phones, commented that "if this happens it will be the end of privacy" and that was in 2010...

I didn't read all the replies - perhaps it's a duplicate.

I'd file a compliant with the state banking commission and see if you can complain to the CFPB. It's one thing to ask if the transaction is fraudulent. It's completely different to be asked to justify a purchase of any legal product. I'd make a point that the person threatened action - getting denied by a bank is not something you really want on a credit report.

Aww, Why do these things not happen to me ?
I just might get a CitiBank CC to they could call me and ask me all those BS questions.

Start singing the song "Mack the Knife," in a low, menacing voice.


Based on the little I know about the know your customer program, this is outside what the program intends. It is primarly aimed at money laundering, and other more obviously criminal activity. This seems like an over reach by Citi.

Should have told them those are dark web hardcore porn sites and they bill under different names to prevent spouses from finding out.

"Know your customer?" Thank you for calling maam, please give me your home number so I can call you back tonight, I'd like to learn more about you as a supplier to me as well. I'll call you at home since it doesn't seem to bother you to call me at home and ask personal questions.

Know where your TARP tax $$ are going...

quote:

Citigroup Inc. was among the hardest hit by the credit crisis and rising loan defaults, and received one of the largest bailouts of any bank during the financial crisis. The government gave Citi $45 billion in loans and agreed to protect losses on nearly $300 billion in risky investments.