PSA purging bulk submitter accounts

[swarmee]

https://www.blowoutforums.com/showthread.php?t=1406099

Some are being done for retaliation (like Blowout's home location), but the majority seem to be to remove scammers who use car wax to remove scratches on modern cards. So if you're normally running a bulk submission, you might hold off until you find out if your account is being suspended or not.

If it was just card alterers, I'd be all for this purge. But they're also punishing those who speak out against them, or allow it to happen on their website. FWIW.

[Johnny630]

Has anyone heard what’s the status of the investigation where subpoena were served at last years national in Chicago ???

[swarmee]

Has anyone heard what’s the status of the investigation where subpoena were served at last years national in Chicago ???
Not recently. Only news has been about the (so far) failed class-action lawsuit trying to prove that PSA, PWCC, and Probstein were intentionally misgrading cards as a team. Although now that PSA and BGS are now providing "we reviewed this card and found it to be unaltered" letters when they re-affirm number grades on obviously trimmed cards being pointed out by Blowout, if Savoy (Plaintiff) can actually show that he lost money as a result of the scandal, they might be able to prove more. But with the way the market is skyrocketing, it's very hard to prove damages against PSA.

[japhi]

Suspect this is all about beneficial owner, being able to validate who owns the card being graded. So much money in it now and with the Feds watching I think they are beefing up KYC

[WillBBC]

Pardon my ignorance, what is KYC?

[swarmee]

Probably something like CYA.

[japhi]

Pardon my ignorance, what is KYC?

Know Your Customer. I’m guessing they will make changes to submission policies that allow them to better understand who the end user is.

[swarmee]

I'll stick with my answer... ;-)

[swarmee]

The Blowout thread is pretty interesting, because a guy who had a 2-day tryout grading for PSA has been responding. If you want a little more insight into the process:
https://www.blowoutforums.com/showthread.php?t=1406127