Agreed #[0] KYC does not stop crime.

Anti-money laundering (AML) and know-your-customer (KYC) laws have been ineffective in safeguarding consumers, despite being enforced for several years. These regulations have only managed to prevent 0.1% of money laundering transactions. Instead of providing protection, these laws put consumers at greater risk of having their personal data stolen due to mandatory data collection and storage requirements. This, in turn, results in direct financial harm to individuals. The use of sweeping surveillance measures to tackle money laundering is not a practical approach.

tftc.io/martys-bent/issue-1324