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This idea conflicts heavily with GDPR first of all. Secondly, why should that information be public? Does car ownership need to be publicly disclosed even thoug

This idea conflicts heavily with GDPR first of all. Secondly, why should that information be public? Does car ownership need to be publicly disclosed even though tons of car crashes happen every day? No, because the driver is liable, not the manufacturer, and the driver carries insurance to reduce cost of liability. The real issue is enforcement. Namecheap should not be there as an arm of the law. Instead, the people BUYING the domains should be held accountable for their fraud. This gets messy quick. How does Namecheap verify the validity of an individual? What constitutes a valid individual? What evidence is required to prove this to a registrar? How does Namecheap verify the legitimacy of intent for that domain? How does Namecheap keep up with every possible brand that may be subject to abuse? At what point does a brand become protected in a way that restricts the selling of similar domains? For KYC in the financial world, answers exist to ALL of these questions. There is some inherent level of identity tied to your personal finances. These systems are built around a real identity that can be validated, so it's easy to apply. The same is not true for any internet service.

logifail 7y ago
> For KYC in the financial world, answers exist to ALL of these questions This might offend us IT types, but I'm not sure there's always just one answer. Anecdote #1: I can walk into the local branch of my bank - where all the staff know me - and withdraw money from my account without showing any form of ID, telling them my account number, or even stating my name. They know me, I just have to sign the form. Is that in the KYC regulations, or even the bank's SOPs? It sure is handy.
- JakeTheAndroid 7y ago
  > Anecdote #1: I can walk into the local branch of my bank - where all the staff know me - and withdraw money from my account without showing any form of ID, telling them my account number, or even stating my name. They know me, I just have to sign the form. They shouldn't do that. I am not saying they don't but they shouldn't. And in this scenario, you've already established your real identity over time in order to open the account and regularly withdraw or deposit funds. You didn't build this relationship in a day without any evidence of who you are. And then you are physically showing up, which is proof that you are the person they have been dealing with over the course of the relationship. You could have lied initially and established a lie over time, but that stuff happens in the KYC process as well. KYC isn't a perfect system and it's completely possible to 'lie'. > Is that in the KYC regulations, or even the bank's SOPs? I would bet that it is in the Bank SOPs to NOT do what you described. But, as a person that does a lot of compliance, it's inevitable that people will ignore SOPs or policy to some extent.

logifail 7y ago

> For KYC in the financial world, answers exist to ALL of these questions This might offend us IT types, but I'm not sure there's always just one answer. Anecdote #1: I can walk into the local branch of my bank - where all the staff know me - and withdraw money from my account without showing any form of ID, telling them my account number, or even stating my name. They know me, I just have to sign the form. Is that in the KYC regulations, or even the bank's SOPs? It sure is handy.

JakeTheAndroid 7y ago
> Anecdote #1: I can walk into the local branch of my bank - where all the staff know me - and withdraw money from my account without showing any form of ID, telling them my account number, or even stating my name. They know me, I just have to sign the form. They shouldn't do that. I am not saying they don't but they shouldn't. And in this scenario, you've already established your real identity over time in order to open the account and regularly withdraw or deposit funds. You didn't build this relationship in a day without any evidence of who you are. And then you are physically showing up, which is proof that you are the person they have been dealing with over the course of the relationship. You could have lied initially and established a lie over time, but that stuff happens in the KYC process as well. KYC isn't a perfect system and it's completely possible to 'lie'. > Is that in the KYC regulations, or even the bank's SOPs? I would bet that it is in the Bank SOPs to NOT do what you described. But, as a person that does a lot of compliance, it's inevitable that people will ignore SOPs or policy to some extent.