While to some, KYC norms may feel like a "no-brainer," they ignite anxiety in others, stirring fears of digital theft or privacy invasion. So, where lies the remedy? In robust cybersecurity. Esteemed casinos secure personal information, but remember, "safe" is a fluid term. Even with advanced firewalls and encryption, cyber-goons find their way in. Reflecting on gambler-involved misdemeanors, yes, KYC can dissuade crime. But, could this data, mishandled, fuel identity theft or fraud?
What you have cited are the negative scenarios that could occur based on the information submitted through KYC requirements. However, let's go back to the basics. Nowadays, casinos are mostly regulated, and this regulation makes them legitimate. However, it also comes with a price. Regulators impose KYC requirements, and gambling sites are obligated to implement them. It's a matter of compliance—either they adhere to the regulations or risk being excluded from the industry.
You are very correct and I completely agree with you, you know that many a times, gamblers make the issue of kyc sound like it is the casino on their own who want to stress their users through mandatory kyc, we completely forget that even some of this casinos wish they don't have to subject their users to mandatory kyc process, but they have no choice since it is one of the crucial requirements for them to continue to keep their operational license without issues..
Though this not to say that there are no bad eggs casinos that have used kyc as a means to defraud their users, this is a fact that can not be denied.