I tried to open an account on Binance in order to transfer coins off Poloniex. Obviously they need a U.S. SSN to meet U.S regulations. I wanted to see if I could do it without giving them my actual SSN and entered it in one digit off at the end XXX-XX-XXX?. The attempt failed and they wouldn't establish an account. I received a message that stated that the SSN entered did not match my name entered. My question is how the hell do they know my name and SSN do not match?
You must have thought they don't have a database in which they would confirm the details you provided for them in other to be sure its genuine and you are who you claimed to be? If you can go about it and they open your account and you are able to carry out your transactions, then it defeats the entire purpose of KYC and also spoil the market for those who buy other people identity because it won't matter if I can just formulate a number and it would match with any name I give them. The point is every details you give is going to a central database that companies with the right approval have access to.