For someone to be convinced to lend their KYC to others, it’s safe to assume they’re getting some form of compensation. But ask yourself, will that reward ever be bigger than the risk? Of course not. The risk is huge, so if you’ve even been thinking about doing this, stop now and understand what you’re really getting into.
Identity Theft: Once you submit your personal info, and if that website ever gets hacked, your data is out there forever. It can be used for all kinds of online transactions, legal or illegal, and that can haunt you in the future.
Privacy Exposure: Many of us chose crypto because of privacy, but now KYC has become the norm. To keep playing, some people give in and submit. Even though casinos are required to keep it confidential, hacks and breaches happen. If that data gets stolen, you lose the privacy you came here for.
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.
Bottom line... these days you can’t just trust anyone who asks to “collaborate” with you on KYC matters. The payout isn’t worth the risk.
It's a good reminder, you can often see dodgy people popping up on these forums trying to buy accounts and you risk getting caught up in all sorts of legal trouble - there is always an angle for them spending big money to access such accounts. Most reputable gambling sites will never store or try to verify your identity locally, they will often use third party services for this who have experience in identity verification and should have the highest security. You should be wary about any service where you have to email in documents, because this is often very insecure and could be intercepted. Like you say, there is no good reason to ever share an account and it is against the terms of service so will get you banned, hopefully before anything illegal takes place.