4 ms·

I’ve been working on KYC recently, curious to hear what the problems with it are in your opinion?

• ccorcos 1y ago
  Synthetic identities, probably
• multjoy 1y ago
  Speaking as a fraud detective, it appears to be completely ineffective.
  • const_cast 1y ago
    Well yeah, you're only looking at the instances of fraud. You're not investigating fraud that never happened because it was prevented, that would be impossible.
• Jommi 1y ago
  KYC and KYCd accounts are a high volume item on the grey / dark net it appears to not really do much at all
  • GTP 1y ago
    I think thst the goal of KYC is to get information about the entity opening an account, to e.g. make sure it isn't used for money laundering. Whether this account gets stolen later is out of scope for KYC.
    • Jommi 1y ago
      right so its useless?
      • GTP 1y ago
        No, it's not: you still want to make it as hard as practically possible to criminals to launder money.