Sending in fake ID for KYC

[Miaallen]

The issue of this KYC to protect the project is what I don't understand when the project companies do not have the facilities to check the authenticity of the ID and thereby fall for it. That explains why cheaters get to acquire so much from bounty and airdrop a d the sincere participants are left with close to nothing.

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[Fesatmas]

The issue of this KYC to protect the project is what I don't understand when the project companies do not have the facilities to check the authenticity of the ID and thereby fall for it. That explains why cheaters get to acquire so much from bounty and airdrop a d the sincere participants are left with close to nothing.

If we want to do KYC we still have to look at legitimate projects because now there are many projects that have to do KYC to each of its participants with unreasonable rewards then this could be a danger I would not do KYC to fake projects.

[sebr1ng]

I'm apologizing in advance if this was already discussed:

For example you can get a fake passport with your photo and then you take a verification - be it with uploading documents or video chat or something similar. You pass, because they verify it's you in the photo. Or do they have any other means of directly checking goverment databases? It seems highly unlikely, since I don't think for example a French company would be able to use the database of German citizens, even less for non-EU countries. So until you do something that requires the company to report you to law enforcement, you can basically "enjoy" your fake identity.

For the record - I personally never used fake documents and always do KYC for legit companies, I was just wondering how they can actually verify you.

Anyone got and comment on that? I'm really interested on how KYC companies really check the provided KYC data.

[shaheer001]

I think some people will do it as nothing is impossible in this world but ultimately they will caught by someone company. But one sad issue is that there are a huge list of scam project who has collected the precious data of the investors and hunters and no they disappeared from market. this is a big thread for all of us.

[Skinny48]

KYC for new projects? The answer is NO
KYC for top exchanges? The answer is YES
It depends on who is asking for the KYC verification, most new projects and Airdrops aims for people's I.D so they can sell online to those who need them

[bayudndy]

KYC for new projects? The answer is NO
KYC for top exchanges? The answer is YES
It depends on who is asking for the KYC verification, most new projects and Airdrops aims for people's I.D so they can sell online to those who need them

That's right, I don't understand why we have to implement KYC when investing in new projects, it's really not necessary. Also should only KYC in the leading exchanges in this market, and if not trading too much money, we do not need to conduct KYC

[daniahya]

That's right, I don't understand why we have to implement KYC when investing in new projects, it's really not necessary. Also should only KYC in the leading exchanges in this market, and if not trading too much money, we do not need to conduct KYC

in a new project it is required that KYC is possible so that there is no money laundering, and sometimes there are some countries that prohibit investing in cryto, but if the project is unclear, it is better not to do KYC, and stay away from such projects

[vermigerous]

I think this is unfair if the KYC verification is legit and not aiming for a fraud and scam or for stealing identity. But i think this is just a good way for those who makes KYC verification stealing of aomeones personal identity. I guess it's a way to make rhose scumbugs revenge for they are also fraudsters and scammers.

[bct_ail]

www.changenow.io is a non-custodial exchange that allows users swap seamlessly between #btc and over 200 other crypto assets without having to submit KYC only on special occasions.

...only on special occasions. True. But if you are one of those who suddenly has to perform KYC, you will not be pleased. Therefore, it is better not to perform a large transaction at once, but to split it into several small transactions.
If someone wants to read about the procedure from changenow: https://changenow.io/faq/kyc-aml-procedure

[LazerPanther]

www.changenow.io is a non-custodial exchange that allows users swap seamlessly between #btc and over 200 other crypto assets without having to submit KYC only on special occasions.

The top exchanges in this market also do not need KYC, as long as you withdraw less than 2BTC per day, I believe that everything will be fine. There is no need to use small exchanges like that

[Crypto_lion]

Maybe the people who handed in fake IDs wanted to protect themselves and didn't want to have their real IDs exposed to the dark web after several cases of ico having their Kyc documents stolen.

[Retainly_Collie]

That's right, I don't understand why we have to implement KYC when investing in new projects, it's really not necessary. Also should only KYC in the leading exchanges in this market, and if not trading too much money, we do not need to conduct KYC

in a new project it is required that KYC is possible so that there is no money laundering, and sometimes there are some countries that prohibit investing in cryto, but if the project is unclear, it is better not to do KYC, and stay away from such projects

That's right, new projects need to know their investors because there are many countries that prohibit crypto, if they do not implement KYC then maybe in the future they will have trouble with that investors. Be careful is the most important

[bct_ail]

What would happen anyway if the identity was stolen and used for illegal things? First of all, you would certainly get a new identity card. But would the data of the stolen ID card be stored somewhere centrally, so that fraudsters could no longer open a bank account, for example?

[Itsmylife]

What would happen anyway if the identity was stolen and used for illegal things? First of all, you would certainly get a new identity card. But would the data of the stolen ID card be stored somewhere centrally, so that fraudsters could no longer open a bank account, for example?

ID card is just a part of authentication process, so it does not effect to your life if you lost it( just take a little time to make a new one). But in crypto world, they can use Id cards to create a  lot of accounts to get airdrop or refs to get reward.

[SyndicateLabs]

What would happen anyway if the identity was stolen and used for illegal things? First of all, you would certainly get a new identity card. But would the data of the stolen ID card be stored somewhere centrally, so that fraudsters could no longer open a bank account, for example?

Surely they will use KYC files for malicious purposes, if we continue KYC to receive airdrop or bounty then I believe in the future we will have trouble with it. I used to participate in the airdrop and now my email is being spammed every day, which is proof of the information being sold.

[bct_ail]

What would happen anyway if the identity was stolen and used for illegal things? First of all, you would certainly get a new identity card. But would the data of the stolen ID card be stored somewhere centrally, so that fraudsters could no longer open a bank account, for example?

ID card is just a part of authentication process, so it does not effect to your life if you lost it( just take a little time to make a new one). But in crypto world, they can use Id cards to create a  lot of accounts to get airdrop or refs to get reward.

I am not talking about verification in crypto world. What I mean is that once your KYC Data are in the hand of fraudsters, they can buy goods in your name. They can open a bank account for money laundering. All that illegal stuff what will be accomplished in your name then. So will your stolen ID Data marked for the future?

[Henrytrust]

I've personally not thought of sending fake Ids when asked for KYC. Most times I use my ID or don't participate, if I'm not convinced of the need for the kyc or don't trust the system. I personally believe that sending someone else's picture isn't justifiable as its an indictment and feels like a criminal offence. We owe each other a duty of care, and what's not good for you, must likely isn't good for every other person.

It's understandable when we're scared of a third party getting access to the information and using it for mischievous activities, but come to think of it, is it better when a much more innocent person who may not even be aware of the cryptocurrency industry has his data compromised because of you? I prefer to be considerate, and have my conscience in place.

[lepbagong]

Then a live KYC method will be a good alternative. There are already a lot of companies and exchange that is using this method for eliminating fake KYC and many have succeeded. In live KYC users need to use their camera to make a short video by using their device's camera with different instructions for every user. I think it will be very hard to fake live video.
 

many ways that will continue to be made to be innovated because over time the sophistication of people to commit fraud also develops, so if you don't follow these developments it is not impossible that you will be left a step behind the fraudsters. obviously many ways can be done to minimize the way that is not wise in any aspect is no exception to KYC itself.

Actually, KYC still has many pros and cons in revealing its existence, because there are so many scams that some believe that KYC can solve but some are also afraid that their identities can be taken by irresponsible people.

[daglordjames]

I have Polymath and Bobs and they have non of my information.  Sorry you sent yours in.

Remember its not illegal to hand your friend a fake ID.  The KYC process is absurd as there is no way in hell they know who is on the other side of the ethernet cable.

Only fools send in real docs.  Jesus guys.

Check out the laws in your area and wisen up to the internet game.  Why in the hell would you give an unknown person your passport?   

Well, yeah, you're right its not illegal to fake our information here because we just don't want to give them our information and just stay unknown.

[daniahya]

Well, yeah, you're right its not illegal to fake our information here because we just don't want to give them our information and just stay unknown.

it is better not to send anything. and stay away from projects that require sending personal documents, I often choose projects that don't have to send documents, because it's safer