KYC.legal is an authentication system. ICO platform began in December. KYC.legal, as you may have guessed from the title, has aim to provide a better system for testing your clients knowledge (KYC). Today, banks, financial institutions and crypto-currency exchanges should comply with the requirements of KYC. Basically, it means that these organizations must collect and verify personal information from clients. It is designed to prevent fraud, and is also often combined with the verification requirements of the money laundering (AML).
In any case, KYC.legal wants to create a better system for checking KYC / AML. This system is aimed to provide advantages of users and companies by developing a single, unified, user-friendly solution. Instead of individual fill requirements KYC from each service provider you can locate this on one platform.
Absolutely right, KYC can prevent scam and fraud. Many people getting scammed and lost money.
You also said about Bank wants her clients personal information for verifying her identity. Now maximum crypto-currency exchange site taking KYC for trading. Otherwise, they are giving limitation.
Money laundering is also a bad thing, so ICO and the financial system takes KYC.