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Update f1_reuse_know_your_customer.html #162

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Merged
merged 2 commits into from
Apr 17, 2025
Merged

Update f1_reuse_know_your_customer.html #162

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83390ea
Update f1_reuse_know_your_customer.html
jandrieu Mar 5, 2025
09b17b2
Update short/f1_reuse_know_your_customer.html
jandrieu Apr 17, 2025
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23 changes: 12 additions & 11 deletions short/f1_reuse_know_your_customer.html
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Original file line number Diff line number Diff line change
Expand Up @@ -21,15 +21,16 @@
<a>credential</a> for her checking account at MidBank. This
<a>credential</a>
verifies that Jane has an account at MidBank and has access to her
associated
checking account. Since MidBank (and all banks in Finland) are
required to
perform &quot;Know Your Customer&quot; checks on accounts, this
credential
can also be used as sufficient verification by other financial
institutions.
This can help Jane assure destination banks that she is verified,
thereby
allaying concerns about misdirected transactions and money
associated checking account. It is issued to a controlled
identifier over which Jane has demonstrated proof-of-control.
When presented, Jane again demonstrates proof-of-control over that
identifier to give the verifier confidence that the current holder
presenting the credential, is in fact, the original recipient of
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Suggested change
presenting the credential, is in fact, the original recipient of
presenting the credential is, in fact, the original recipient of

the credential. Since MidBank (and all banks in Finland) are
required to perform &quot;Know Your Customer&quot; checks on
accounts, this credential can also be treated as sufficient
verification by other financial institutions. This helps Jane
assure destination banks that she is verified, thereby
allaying concerns about misdirected transactions and money
laundering.
</dd>
</dd>