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KYC (Know Your Customer) laws are not exactly unique to the US. The money industry tends to be heavily regulated, and self-regulated (PCI DSS) for a reason. Cr
by knorker 6y ago
KYC (Know Your Customer) laws are not exactly unique to the US.
The money industry tends to be heavily regulated, and self-regulated (PCI DSS) for a reason. Crime happens there because that's literally where the money is.
I'm doing my part, though. I pay with cash whenever I can. In Germany that's easy (often the only option e.g. in restaurants). In Sweden, not so much. And then there are countries in between.
- philwelch 6y agoYeah, I don’t know how other countries differ from the US in this respect. Maybe the “war on drugs” made us paranoid about money laundering to the point where it eventually ground down the cash economy. Or maybe it really is our addiction to consumer debt.