herseycokguzelolacakIf you had any doubts that Know-Your-Customer laws were evil, here is one very good reason: personal data of 1 BILLION people just leaked.
The core purpose of KYC - to make it harder to launder money, and for the ultra rich to hide away their ill gotten gains - is not evil, far from it.
The fact the very same people which benefit from a perception that KYC is evil, are the same people making the decisions which directly lead to data breaches, is obviously a complete coincidence!
KYC does nothing against rich people. Panama Papers came out and nothing happened. Law enforcement does not target rich people.
Yep. KYC is to stop the movement of funds that could be used to undermine the system. A.k.a terrorism.
Also tax evasion.