Topic: Cryptocurrency, KYC and Terrorism - page 16. (Read 2716 times)
Doing KYC have a advantages and disadvantages like what OP said it can be use in some terrorism activities that one reason I hate this kyc system I dont give my identity to any company like this ico project so be careful for joining any project that require doing a kyc because your identity can be use by othee people for doing illegal activity.
I strongly agree that KYC is the most important for me because it stores personal data that is very easily misused or tracked by someone, very risky to give KYC useless, money is not everything but personal data is played by every cheat project, surely that is their clear intention I want to take advantage of this situation, I hope this will be a lesson in the future because there is no safe system.
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.
That's a possibility! However, we haven't yet seen an ICO is directly linked with the terrorism financing as of yet! However, I am concerned more about the KYC documents instead of money in this whole game! No one knows how a ICO company handles or keep the KYC data of their customers! If the ICO really want to do business probably they will take care of the data but if an ICO is built to scam people, they can even sell their KYC data in the darkweb against a fat payment! I am glad that no such scam has yet been surfaced, but this is still a gray area!
Let's say what you're saying is true. I believe only a few people ('investors') would give their money for some unknown projects which have an anonymous team. I'd be seriously surprised to see that any sane investors would throw away their money for some scrappy whitepaper.
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 can't imagine the reason why they need to make it so complicated. Buying from identity seller might be faster.
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 can't imagine the reason why they need to make it so complicated. Buying from identity seller might be faster.
Or you watch TV too much?
What you are saying is the terrorists create blockchain product, write a WP and set a website for an ICO. After collecting personal information from people they close the shop and go out to use identities' people?
If you prefer to live in a sphere with a currency controlled by authority controlling everything then you can always use your local money.
What you are saying is the terrorists create blockchain product, write a WP and set a website for an ICO. After collecting personal information from people they close the shop and go out to use identities' people?
If you prefer to live in a sphere with a currency controlled by authority controlling everything then you can always use your local money.
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?
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.
so many people sent their documents lightly, and someone took advantage of it.
My advice is first of all to trust only companies that meet the minimum security requirements, secondly if you suspect that you have sent documents to the wrong people, the first thing to do is immediately request a new document so as to avoid a fraudulent use (and subsequent problems)
My advice is first of all to trust only companies that meet the minimum security requirements, secondly if you suspect that you have sent documents to the wrong people, the first thing to do is immediately request a new document so as to avoid a fraudulent use (and subsequent problems)
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?
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?
That's true that's the reason that I hate KYC there's too many risks on it, we can only give our vital information on companies and organizations that we know and are compliant, but with ICO that we are not sure who are the people running, there's too much risk attached to it.
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?
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?
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