> not only should KYC not be mandatory, KYC should be illegal. MoneyGram should not be permitted to collect its customers' personally identifiable information.

> not only should KYC not be mandatory, KYC should be illegal. MoneyGram should not be permitted to collect its customers' personally identifiable information. That's because breaches like this are a national security vulnerability. Privacy is the foundation of civil defense Personal opinion: that's a pipe dream and it's never going to happen. Moving money is an extremely vital part of modern economies, and importantly, of underground ones. You mention Hizbollah - without KYC they would have been able to more easily receive donations from sympathisers and use those funds to buy stuff from everywhere. Their surveillance by Israeili services wasn't online surveillance, because the group has already been burned by advanced Israeli cybersecurity attacks. They were using pagers ffs, do you really think their members were tracked and surveilled online? And the same would apply for stuff like criminal regimes evading sanctions even more, cartels laundering their money, financial scams like Wirecard proliferating even more. Look at the crypto space that promised to change that - outside of the absurd lack of practicality, it led to millions of scams, money laundering operations, North Korea abusing it to fund itself, and the like.