The need for a "
know your customer" rule could take on a new urgency as social networks evolve to become fully encrypted private-messaging services, as Zuckerberg has indicated he plans to do with Facebook.
But you cannot
know your customer's specific objections until you hear them.
In developing best practices for hotel renovations, it's important to keep the two basics realities in mind--know your building and
know your customer. These tenets are at the core of the Affinia brand, a distinctive collection of hotels.
Many on the left and right worried about overreach from the federal "
Know Your Customer" regulations of 1997-98, which would have required banks to monitor every customer's "normal and expected transactions." Those proposed rules were eventually withdrawn after the ACLU, the Libertarian Party, and other groups generated more than 100,000 comments in opposition.
First, the Treasury Department tried to tell banks they had to "
Know Your Customer" and report anything "suspicious." Now the Department of Health and Human Services is trying to get states to tell doctors and pharmacists to know their customers and report anything "unusual."
The regulations generally require each financial institution to establish a system of money laundering prevention incorporating employee training, a "
know your customer" policy and monitoring system, a system for detecting, reporting, and preventing suspicious transactions, and a designated individual responsible for compliance.
The only thing I can say is:
Know your customer. And be prepared that in order to do business there you need to extend credit between 60 to 90 days.
Ron Paul who led the fight against
Know Your Customer, I was delighted to read your article on its return ("Sneak Attack: A stealth campaign by U.S.
* The term "
know your customer" as used in the regulations, refers only to "the capacity of financial institutions to determine whether their customers are U.S.
Company services providers now must be licensed and adhere to a set of guidelines governing "good practice" and "
know your customer."
The issue is how to
know your customer better and how to serve them more efficiently and effectively."
Dani's advice: "Get to
know your customer. Try to understand him." He suggested that marketers write down five things that the prospect wants today.
