Etsy Inc said on Friday U.S. sellers on its marketplace will either need to self verify their bank accounts or do it through a third-party as it seeks to comply with anti-money laundering and related regulations.
A sign advertising the online seller Etsy Inc. is seen outside the Nasdaq market site in Times Square following Etsy's initial public offering on the Nasdaq in New York April 16, 2015. REUTERS/Mike Segarsaid on Friday U.S. sellers on its marketplace will either need to self verify their bank accounts or do it through a third-party as it seeks to comply with anti-money laundering and related regulations.
"This is so typical of Etsy on any controversial subject but, when it has to do with our finances, it's unacceptable," said Dorothy Domingo, who has been selling functional pottery on Etsy since 2008.Plaid, which last year agreed to pay $58 million to settle a case that alleged it used financial information without consent, said it was "committed to providing a secure experience" to users.
"Unfortunately, a history of less-than-stellar communication and customer service contributes to a general lack of trust in Etsy," said another seller who also wanted to remain anonymous.
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