Cryptocurrency, KYC and Terrorism - page 13.

michellee

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Quote from: slashz9 on June 06, 2019, 06:24:37 PM

but many people do kyc, specially if they get high reward, so i think this is hard, they choose not do kyc and not get paid after work for 1-3month.
but not at all will be do for that,dont think negative and assume that happen at all, open minded and look from other side.

If the project can protect the customer data, then it is no problem for the investor or participants to send their document to them. But if it's not, then we need to be worried if the document can be used for illegal things and we don't know about that. We can be the next target because they have our document and they can do whatever they want. So be careful when you want to send any document to any project and make sure that you do the right thing.

iMark

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Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

you better gather proof that is real and authentic rather than making speculations that are not necessarily the truth. A bit of wild thoughts like that, terrorists are there but in my opinion their funds do not come by fundraising from crypto or ICO, and KYC that exists may be sold by some bad people, whatever their purpose, we are better selective and careful about suspicious projects

el kaka22

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There has been a lot of the gather as much money as possible and then run away with it type of ICO's for sure, hell there have been openly doing that ones as well but the terrorist part is something I don't know. I mean I have been around for 6 years and I haven't heard of that terrorist scenario ever before this topic, is that legit? Where did you find that news ?

Remember in the crypto world (and honestly in real world too) people are telling many lies and many made up scenarios so this could be one of those, we have our fair share of conspiracy theorists in our ranks so without any proof do not believe everything you read. If it is true and terrorists do use these kinds of things then there must be a true source for that information and with that we can find ways to protect ourselves from them.

bering

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I'm not sure about you says ICO's used to fund terrorist acts and i was first time to heard about this here which is these thoughts not necessarily true but indeed there always be possibility for it because cryptocurrencies offering the advantages which is not owned by other currencies and about KYC that's why most people suggested not too easy submit our data to particular sites to avoid things we don't want

maxreish

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Actually, I've never heard about this before. If you can provide any link about this hearsay about terrorists using ICO projecgs in return of KYC thing, then it is better. Somehow, it just made me stop and think. It is near possible that they use this crypto projects to accumulate identities from different countries with of course collecting funds at the same time. The motives are too personal if we are talking about terrorists here. But well, how can we really say it's true when all of it was just speculations.

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Quote from: indrakusumaindra on June 06, 2019, 11:43:02 AM

Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

Yes i do think so, this conspiracy that might turn out to be true and i do think there is a lot of ICO that not real and dont have real product and might be terorist fundrising ICO. I do think its bad idea to give KYC to someone who we dont know especially to crypto world but in other hand I do believe KYC is needed to prevent terrorist fundraising.

Ues, that's why people are not showing interest in fundraising but still, people are investing and submitting their document to the companies those who are raising money. If you don't like the company and don't want to submit the documents better stay away from those companies and start investing when they start trading in the exchanges.

huhhuh18

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That was the reason why the call for regulations became a hot topic after the 2017 ICO bubble. It was realised many people just used crypto to scam people and then use the money for various reasons including the illicit behaviours you talked about. So with regulations, people will always be on their toes so they don't get into troubles and that'll save all of us

ityandsyn

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Quote from: Gozie51 on June 05, 2019, 06:08:29 AM

Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

This post might be correct in some ways but I think this position should be backed by a link to further read on it so it won't be held on you to be the one who is making this position or the thread you read it.

Yes KYC might have its ulterior purpose but my question is, if it is used for terrorist activity, what particular information that KYC might be requiring if not basic biodata and maybe passport photography. So what would terrorist would be needing such information for where the information in KYC is not having anything with your government, because terrorism activities is about attacking government and governance purpose.

It simply they will use our biodata and identification card or passport to easy enter our country especially if have similar faces so this gonna be the big risk if we sent our documents , but if you have trust the people around in that project then you don't have to worry about it , besides we have no news reported regarding this speculation .

slashz9

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but many people do kyc, specially if they get high reward, so i think this is hard, they choose not do kyc and not get paid after work for 1-3month.
but not at all will be do for that,dont think negative and assume that happen at all, open minded and look from other side.

salty

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I believe that KYC should occur with the help web cameras.So crypto space will really become cleaner.And no one would dare say anything bad about cryptocurrency.And the fact that terrorists use cryptocurrency I do not know about it and do not want to know.If someone is interested in their support it can be done in different ways.

Ucy

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It's unlikely that terrorists (the ideological ones atleast) would be interested in peoples identities. They tend to target a specific people to kill, victimize or used as ransom and not just some random people with no value to them. However, scammers and robbers could be very interested in this. They could easily use it to target wealthy/important people for identity theft, kidnapping, armrobbery, blackmail etc..

sandra_x

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Ech time we fill some KYC forms, we are actually taking upon ourselves certain degree of risk. It is not impossible that some ICO projects have the sinister ploy to fraudulently obtain sensitive information, there prevalence of security breeches in the space may not be unrelated to this

Rapidgator

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Quote from: ttcsalam on June 06, 2019, 08:34:54 AM

I think KYC can give a identity.so every one should fillup KYC.for that KYC we can fuond easily the truck.and KYC can give a validity all of sector.So i think for reduce terrorism must need KYC.

If I would be a terrorist or somebody who is using crypto for illegal stuff I will always know how to have a chance to exchange my crypto for other stuff

TrevorS

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The identification procedure very little complicates such operations for terrorist organizations that have great potential in the means and are able to hire professional harpists who can fake any documents and videos.

bitcoindusts

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Quote

If the terrorist really wants to do it, then they might want to steal other people photo to represent their team, or if they're stupid put their own face on the internet.

I bet you haven’t encounter ICOs who did this? There are some ICOs that are doing it for real. I happened to participate in an ICO bounty campaign which in the beginning really did great and the developer team most of them were Chinese. But then, someone made a research about the team and found out that those faces posted in their whitepaper were wearing false names. The photos belonged to someone else who hold a different project and were in fact well know personalities in China.

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Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

This is a deep thinking and in reality these your views maybe be happening and we all may not know. Terrorists has many ways of raising funds and before many of us were advocate for kyc as this will reduce terrorism but after reading this post it is now clear to me that many icos that run with investors funds may be opened qby terrorists organizations to raise money for they evils agenda.

kamudd

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That is one of the reasons that we really need to know what ICO will do to our data if we have to do KYC, it is very difficult to distinguish what is good and which may only require our data only for crime and that is where we must be extra careful.

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Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

These are just being over exaggerated. I don't think terrorists will be running all these ICOs and go through all those hassles for just few amount of money (compared to other ways they fund themselves). Yeah, those ICOs after stealing money from their investors also tend to sell the IDs given to them to make more money. But, not sure how those IDs will be used for terrorism.
Lets not blame crypto currencies for all these. These activities has been going on for a long time. Even before crypto currencies were invented.

Febo

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Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

Most cryptocurrencies have zero anonymity features. You are also talking about three different things. First you say that terrorists use personal information of people that are part of ICOs and central exchanges where they need to do KYC. Second you talk that they make ICO to found their activity. And third you say they use cryptocurrencies as a money.

Terrorists can get personal information's from any central database. They can get them from paypal or Facebook or wherever. You are right that just anyone can make an ICO and steal peoples money if they want to use it to lay on a beach or to kill people. Bitcoin is trying to be a money. So with that used by just anyone. From butchers to terrorists, from basketball players to lumberjacks. It is money. To make sure terrorists dont get a hold nuclear weapons best is to destroy all nuclear weapons. Not prohibit the use of iron. ( guessing you cant make a bomb without Iron.)

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Quote from: congresowoman on June 05, 2019, 03:53:56 AM

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

Nowadays, it seems that people data and information is no longer valuable, as you know some people even willing to do on KYC for $10, and the worst case is when you realize your exchange being hacked, some $ maybe stolen, but the exchange absolutely still have money, we need to worry about ourselves. Our information could be sold by them.

Topic: Cryptocurrency, KYC and Terrorism - page 13. (Read 2685 times)