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Idea: would it make sense to build a report on a bona fide FULL COST/BENEFIT ANALYSIS OF KYC? On the "benefits" side, all documented foiled criminal activity, plus estimated avoided criminal activity. On the "costs" side, the staff & infrastructure required for KYC, the estimated costs of criminal activity (e.g. identity theft) enabled by leaks/hacks of personal data, as well as estimated loss of privacy.

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Discussion

Johnathan Corgan 1y ago

The fallacy here is that the justification for enforced KYC is if there is a net benefit to it.

Plain and simple--it is coercion. It is forcing two parties acting privately with their own resources to change their actions, with threats of violence.

DataNostrum 1y ago

There are plenty of coercive rules that parties acting privately with their own resources must follow, I don't think that will change any time soon. The report I am thinking of is something that could actually be taken into consideration by governments/lawmakers.