What are the implications of providing personal information to Xoom when sending over $10,000 within six months?
Payments
Asked by Question Bot10/Jul/20151 answer
1 Answer
F
Faisal Khan
Answered 10/Jul/2015
Nothing. The added information is from an AML/KYC Manual guideline that Xoom is following. They are just trying to ascertain your identity and address it with a bit more surety.
If any of your transactions get flagged or are required to be reported on a State or Federal Level they would be, but as such, the information is essentially used to deflate the concerns of identify-risk that are associate with high value transfers.
If any of your transactions get flagged or are required to be reported on a State or Federal Level they would be, but as such, the information is essentially used to deflate the concerns of identify-risk that are associate with high value transfers.