KYC is a security hole. Businesses are just bullied/forced by governments to collect customer information. It’s really difficult to secure information in the internet age. Some of the largest and most capitalized companies still get hacked regularly.
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There are also questions around whether KYC is helpful at stopping illicit activity and whether on average is worth the cyber risk and loss of privacy. It should be normal and encouraged to discuss such concerns and tradeoffs. Of course, such topics are taboo at most places.