Whole KYC thing is crazy for me.
For example in my country it's forbidden for business to ask customer for copy of his ID, even bank's right to do so was/ is being challenged.
What's even funnier is that there are digital signature which could be used for this but I understand the cost may be the limiting factor (in my country it's over $100 per year) but I haven't seen KYC procedures accepting them.
Does your service accepts digital signatures?
For example in my country it's forbidden for business to ask customer for copy of his ID, even bank's right to do so was/ is being challenged.
What's even funnier is that there are digital signature which could be used for this but I understand the cost may be the limiting factor (in my country it's over $100 per year) but I haven't seen KYC procedures accepting them.
Does your service accepts digital signatures?
We perform Tier 1 banking KYC and the most important is an AML checks to avoid bad actors on the stage. As it is an online platform, we requesting you to send us a picture where you hold your ID beside yourself, to verify that you are an existing person instead of electronic signature.
