The KYC procedure in my opinion is fraudulent. You do not know who they will sell your data and how they will be used in the future. It's just very life-threatening.
I agree with your compliment. Most of the time KYC compliance is very harmful i think. I don't trust it because anytime they sell our data so that's not fully secured. Personal data hijacking is big harm and facing problem at future. Even someone can use any illegal activities.