In case it's not obvious for some, KYC means "Know Your Customer": https://en.m.wikipedia.org/wiki/Know_your_customer https://en.m.wikipedia.org/wiki/Know_your_

In case it's not obvious for some, KYC means "Know Your Customer": https://en.m.wikipedia.org/wiki/Know_your_customer https://en.m.wikipedia.org/wiki/Know_your_customer And this is the whole point of anti-money laundering and fraud detection controls within banks. There's not enough information in the story to tell if the customer turned controls off, if a transfer of this type was unusual, if the customer confirmed an alert, etc. Reporting in the story is horrendous, almost to the point it appears it is intentionally exploiting the victim and misinforming the public.