4 ms·
Enforcing KYC, AML Laws Is Key to Reducing Ransomware Attacks, Report Says
- runeks 6y agoUsing the logic of this report, couldn’t we say that enforcing KYC/AML solves all economic crime? Drug trade, corruption, tax evasion: just have every country in the world, without exception, strictly enforce KYC/AML and they’ll be gone!
- Normille 6y agoYes. And let's not forget all the politicians with their secret offshore bank accounts, trust funds, and companies registered in their pet hamster's names.... Oh. I forgot. KYC/AML rules only apply to the normal folks. KYC/AML has got to be the most disgusting privacy invading legislation of all time. It's so depressing that everyone has just accepted it with nary a murmur of protest. Imagine if billions of people had just refused to comply with this iniquity. The financial system would have had to abandon the idea, or face collapse.
- sinyug 6y agoThis KYC/AML process never seems to stop criminals who routinely defraud senior citizens as well as those who are not very technically-minded. But they create an enormous strain on the very same people.[1] This process needs rethinking. 1. https://www.moneylife.in/article/indiscriminate-freeze-on-bank-accounts-due-to-kyc-part-1/63587.html https://www.moneylife.in/article/indiscriminate-freeze-on-ba...