I sometimes see no true reason for the invention of KYCs other than enhancing the - monitoring and control policy.
Nail on head. KYC is about mass surveillance, nothing more.
I haven't seen much improvement on money laundering cases since the inception of KYCs
And again. I've brought this up
several times
before - there is absolutely zero evidence that widespread KYC prevents money laundering or aids in tracking down criminals, just as there is absolutely zero evidence that mass surveillance prevents terrorism, or any of the other stupid reasons (tHiNk Of ThE cHiLdReN) that politicians give to justify monitoring everything you do.
KYC achieves two things only - mass surveillance, data harvesting, and control on behalf of your government and a variety of three letter agencies, and innocent people having their identities stolen.