That's not true. People who don't do KYC to their customers go to prison. KYC exists for the same reason the drug war exists: People believe in paternalism and

That's not true. People who don't do KYC to their customers go to prison. KYC exists for the same reason the drug war exists: People believe in paternalism and want to feel that there is some greater power that is in control. And there are people with guns and throw-you-in-prison capability who are happy to make it so.