Legal Liability: This is the biggest risk. If your KYC ends up tied to something serious like money laundering or terrorism, authorities won’t hesitate to go after you. And since it’s your name on the account, you can’t simply deny it, you already submitted your documents.
This is the main reasons I always discourage that, but not only
I about gambling but about all other things that require KYC, like on exchanges also. To avoid anyone using your identity to steal or elicit criminal activities, best to avoid using KYC.
I remember a friend
omthst wethat I met in school, he told me that I should please
fibe menmygive him my identity card like drivers license or national ID or international passport that he wants to use it to get verified on an exchange, I did not give him.