KYC does not verify a players identity, it simply verifies that the specified documentation has been submitted.

KYC and AML regulations and procedures do not stop money laundering. Those involved in that activity find
their way around regulations because they are highly incentivized to do so.

Pre-verified accounts are being bought and sold online by enterprising individuals who are addressing a
demand in an emerging market.

The inconvenience and the cost of KYC procedures is therefore borne by the majority of ordinary users who have no intention
of breaking any laws, they simply do not wish to risk having their personal identity documents stolen when a casino's database is inevitably hacked.