Sharing your private info doesn't keep your money safe if the service fails for any reason, you will lose your money, and your sensitive info will probably be sold on the dark web.
That's true.
Complying to KYC doesn't mean that they're securing our money but we're just compliant to them and they're also asked by the regulators to do it.
There are also those staff that are taking advantage of their position especially those that have access to their database. Try to test out a new email and register it to any casino, if the data is leak then you'd receive tons of spam emails.
Obviously, that won't be a good casino site to stay with, if they are leaking our information outside where we only registered. Worse, I have heard some rumors that they are selling those emails to the black market so they can send whatever scammy attempts they are trying to everyone and they will just wait for a new victim.
I do agree with KYC because the company is just trying to keep their business intact and also to avoid money laundering activities because if this happens, the government they are under will no doubt close them down just using that reason.
It's not like a reputable casino is trying to mess with our information but it's just there to protect themselves too. But if it is a site that only has a purpose to steal our information and use it for evil deeds then we should get out of there as quickly as possible. Changing emails is also an idea because there's a chance a lot of invites will be sent to the tainted ones.