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I think I probably agree with your general point that the mandated KYC practices are not enough to protect you and your stakeholders in and of themselves. That
by wdewind 11y ago
I think I probably agree with your general point that the mandated KYC practices are not enough to protect you and your stakeholders in and of themselves. That being said, I think you'd be surprised how much fraud fails to get through basic KYC checks. (I did not downvote you fwiw).
- steven2012 11y agoI'm very familiar with KYC, and fraud, etc. There's more than enough fraud that passes KYC to bankrupt your company. It's the additional work that keeps most companies of significant size in business.