Any Money Services Business / payments processor needs to adhere to strict government regulations. In the US this would be (among other things) the Banking Secr

Any Money Services Business / payments processor needs to adhere to strict government regulations. In the US this would be (among other things) the Banking Secrecy Act: https://www.occ.treas.gov/topics/supervision-and-examination/bsa/index-bsa.html https://www.occ.treas.gov/topics/supervision-and-examination.... It's simply not legal to "not keep records" if you are running payments. If you ran a payment to "O Bin Laden" but you have a driver's license picture showing that it is Oscar Bin Laden, from CA, DoB 2001, you'd better keep all that information for your records in case you get audited for potential OFAC violations.