Begin 4:54 pm CST on April 15, 2020
The original public comment regarding “Support of Same-Day ACH Services” discussed matters pertaining to timestamping regarding legal filings in regards to securitization of transactions, including ones with long-term implications. This is ALSO relevant for consideration regarding reports of fraud and identity theft. Insofar as fraudulent theft of identity accounts is tolerated, then the problems that come with failure to follow-up and verify the veracity and legality of an associated transaction compound. It is much like how one CAN use a debit card to get cash and THEN go acquire another pay-as-you go debit card -- without a verifiable record of the account from which the “cash” came before transferring to another account, then the likelihood of acts of money laundering accrue and compound. How likely is it that NOW that trillions of dollars are ostensibly being distributed under an alleged “emergency aid package” that people are going to take the “free money” and use it for illicit and unverifiable activities? What about people who WANT to track it as a means by which to verify their creditworthiness in distinction from what are already well-known concerns regarding exploitation of emergency periods for illicit purposes?
4:59 pm CST
Edited and posted by 5:05 pm CST
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