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I broadly agree with this. My sense is that KYC hurts individuals who value their privacy and maybe catches some mid-level crooks. The big criminals bypass it
by kaffee 8y ago
I broadly agree with this.
My sense is that KYC hurts individuals who value their privacy and maybe catches some mid-level crooks. The big criminals bypass it without much difficulty. The recent case of Dankse Bank confirmed my opinions about this. Here's a forbes piece: https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/ https://www.forbes.com/sites/francescoppola/2018/09/30/the-b...
- JumpCrisscross 8y ago> KYC hurts individuals who value their privacy If you care about privacy, use cash. Only your income will be reported.
- kaffee 8y agoHow do I purchase an mp3 or an ebook from someone in another region with cash? This is definitely something I would like to do.
- someguydave 8y agoumm, you could buy Bitcoin?