Post
Topic
Board Bitcoin Discussion
Re: A question about AML KYC
by
gundala
on 13/03/2020, 20:32:59 UTC
I linked this thread:Why KYC is extremely dangerous – and useless to reference material related to KYC, the information was quite clear and explained the explanation related to risks that might occur when we are not wise in doing KYC.
KYC in crypto doesn’t necessarily help to stop money laundering or reduce criminal activity; nor does it help to prevent terrorist financing. On the contrary - KYC endangers our privacy and encourages criminal activities (via KYC scams, identity theft and other means).
We really need to be wise in providing personal data to avoid things that can harm us in the future. It could be that our personal data is sold by people who are not responsible, and of course it is very dangerous to our accounts that are connected with personal data, including bank accounts, electronic wallets, etc., this can open the gaps of hackers and scammers.
My advice, don't use your personal data only for worthless airdrops. Be wise in choosing a trusted exchange globally.