thread Re: id requirments in Online Store

id requirments

heidi123 — Sat, 22 Mar 2025 12:53:31 GMT

I have had a square for many years. This year all of a sudden you want info I am unconformable with providing for my own security. Why would you need my picture? Why all of a sudden you need more ID. Where are the the government requirements that say this is required info. Is this is just squares idea to gather info not required?

Re: id requirments

LukeNieuw — Sat, 22 Mar 2025 16:15:43 GMT

interesting. Did you not verify your id when you first signed up?

Re: id requirments

JTPets — Tue, 25 Mar 2025 11:13:34 GMT

Financial institutions, including payment processors like Square, must adhere to strict regulatory requirements set by government bodies, primarily under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). These regulations are overseen by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and require companies to verify user identities, including collecting identification documents, to prevent fraud, money laundering, terrorist financing, and other financial crimes.

These requirements aren’t optional or simply company-driven; they're mandatory legal obligations intended to protect you and the broader financial system.

Hope this clarifies the matter!