That's what these sites always do. KYC/AML might have good intentions but almost any law/rule that targets a specific group which also influences the general public will end up with the latter brunting most of the impact.
The individuals that want to avoid the KYC procedures will find a way while everyone else who isn't laundering money has to suffer the consequences of the change. Same thing happens when you see casinos implement bonus conditions and turnover requirements. It doesn't actually stop money laundering - it is just a sneaky way of wringing more out while being 'legally and morally upstanding' as a kicker.
Topic: Dontask for KYC at all if your not going to require it at the beginning (Read 204 times)
June 01, 2020, 11:29:55 PM
June 01, 2020, 11:18:43 PM
Fucking scam exchange services and scam casinos. It is a fucking scam if you are not going to require KYC before the initial deposit and then require it when someone tries to withdraw.
Either require KYC from the first signup or don't require it at all.
These fucking selective scammers are pulling this shit for too long. These bullshit "webwallets" and "casinos".
Either require KYC from the first signup or don't require it at all.
These fucking selective scammers are pulling this shit for too long. These bullshit "webwallets" and "casinos".
Read their TOS very carefully in the beginning so that we won't go to the hassle of sending your KYC info if you don't link. But I would say that yes, it is a shady practice by some exchanges and casinos in beginning. When you sign up, there are no warnings. And when you try to withdraw specially in a casino wherein you won tons of bitcoin, they will suddenly enforce KYC and will 'delay' your withdrawal. You are lucky enough that you can withdraw, because there could be casinos that are going to suspend your account for no reasons at all.
June 01, 2020, 09:42:19 PM
This is why you need to read carefully the rules, terms & conditions, and privacy policy. If they clear stated "We may ask KYC for suspicious activity on your account" it's not the service/exchange fault, but this is your fault.
If they didn't stated ask KYC for suspicious activity and you got asked for submit your KYC, you can create scam accusations against the wallet/exchange/casino. This is one of the example and have been resolved Power of this forum...
Here are my suggestions if you want to avoid KYC:
1. For exchange: Peer to peer marketplace is your options
2. For web wallet: No need to trust web wallet, because it's custodial wallet. Better to use non-custodial wallet (e.g. Electrum and hardware wallet)
3. For casino : Read the terms carefully
If they didn't stated ask KYC for suspicious activity and you got asked for submit your KYC, you can create scam accusations against the wallet/exchange/casino. This is one of the example and have been resolved Power of this forum...
Here are my suggestions if you want to avoid KYC:
1. For exchange: Peer to peer marketplace is your options
2. For web wallet: No need to trust web wallet, because it's custodial wallet. Better to use non-custodial wallet (e.g. Electrum and hardware wallet)
3. For casino : Read the terms carefully
legendary
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June 01, 2020, 09:17:35 PM
Casinos or exchanges, whatever you say, they are forced to run their business according to the rules of their state and they have to follow them all. As a part of that, they require KYC sometimes. But that is written on their website too that you may ask for KYC anytime for any reason they find suspicious on your account. You have agreed all of them when you joined. So, you can not complain anymore.
Better you avoid centralized exchanges, use bitcointalk as the marketplace or some other dex.
Better you avoid centralized exchanges, use bitcointalk as the marketplace or some other dex.
June 01, 2020, 06:21:16 PM
Because they know that very few people would register for their platforms.
Just know that most of the scam Exchanges/web wallets and casinos hide behind the KYC to selectively scam off some people who have deposited or would like to withdraw large sums of money in the name of "investigations for suspicious activity"
While some investigations may be genuine, a number of them are not and one should be very careful when using a web wallet ,casino or exchange. Make sure you have clearly read and understood their KYC and AML policies before depositing anything.
Just know that most of the scam Exchanges/web wallets and casinos hide behind the KYC to selectively scam off some people who have deposited or would like to withdraw large sums of money in the name of "investigations for suspicious activity"
While some investigations may be genuine, a number of them are not and one should be very careful when using a web wallet ,casino or exchange. Make sure you have clearly read and understood their KYC and AML policies before depositing anything.
June 01, 2020, 05:22:38 PM
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They just hide behind the AML procedures.
Do you have problems with any particular service?
Fucking scam exchange services and scam casinos. It is a fucking scam if you are not going to require KYC before the initial deposit and then require it when someone tries to withdraw.
Either require KYC from the first signup or don't require it at all.
These fucking selective scammers are pulling this shit for too long. These bullshit "webwallets" and "casinos".
Either require KYC from the first signup or don't require it at all.
These fucking selective scammers are pulling this shit for too long. These bullshit "webwallets" and "casinos".
They just hide behind the AML procedures.
Do you have problems with any particular service?
June 01, 2020, 05:09:28 PM
scam exchange services and scam casinos. It is a scam if you are not going to require KYC before the initial deposit and then require it when someone tries to withdraw.
Either require KYC from the first signup or don't require it at all.
These selective scammers are pulling this for too long. These "webwallets" and "casinos".
Either require KYC from the first signup or don't require it at all.
These selective scammers are pulling this for too long. These "webwallets" and "casinos".
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