Monthly income and Bank account statement for a KYC

[IIIIIIIII#VIP#IIIIIIIII]

I think that projects that require your bank account statement are scam projects. They collect information about you and your earnings in order to then sell this information to hackers.

[thepo1m]

I think one need to think twice before giving out ones information out to these projects now, asking for bank account statement has gone too far, this could be a scam project. I don't know why you did not make mention of the actual project asking for these information

[bitkanu]

Just recently I saw an ICO that asking a monthly income and bank account statement for a KYC. It's said on their KYC form that it is important for them to know the financial capacity of their token holders or buyers.
What can you say about this requirements?
Somebody here did it before?

Never apply those kiddish airdrops or ICOs where they ask for your personal confidential details.

KYC and AML are legit in my opinion just if it don't surpass the limit, asking for monthly income and bank account statement is just too much especially if the ICO itself looks doubtful. I recommend anyone here never ever handing such important data to someone you don't know.
It might be turn out to be a fraud attempt of stealing your credentials data who knows? There's so many damn ICO that didn't ask such so better switch off.

[Bressam]

I never apply those ICO, bounty or airdrops where they ask for my personal confidential details.

[DarkBullet]

This was the first time I heard an ICO KYC asking a monthly income and bank account statement. You are interested on their platform because you wanted to invest and not to request for any loan. That was a clear scam and identity theft KYC. Never trust those kind of ICO. Bank account statement is consisting of sensitive information that is not advisable to provide to someone. That project abusing too much of KYC policy.

[Tambu]

I never apply those ICO, bounty or airdrops where they ask for my personal confidential details.

Some  of the ICO ask KYC to make it sure that you are not spamming their their airdrops/bounty etc. But asking you bank statement and source of income is to much.
I won't join if those things were ask. Actually if you ask somebody their banks statements and income is kinda offensive.

[LordTricky]

It certainly looks like the dev's are wanting bank statements so they can judge how much they can rob you of in regular instalments.

ONLY a complete muppet would hand over ID never mind a bloody bank statement as well..

[Tambu]

I think that projects that require your bank account statement are scam projects. They collect information about you and your earnings in order to then sell this information to hackers.

It could possible dude.  Instead gaining you will loss big time. They might be use those KYC to hack you bank account and will easy for them because they have all of your information. Better to ignore such kind of KYC. 

[Kulafu]

In KYC if the Bank account and you details are being ask you should red lighted on this.  It could be someone wants to still your identity for possible hacking.

[Snaic]

Just recently I saw an ICO that asking a monthly income and bank account statement for a KYC. It's said on their KYC form that it is important for them to know the financial capacity of their token holders or buyers.
What can you say about this requirements?
Somebody here did it before?

I have also met such information that the ICO team requires the provision of such information about your financial capabilities. I consider this to be utter absurdity. When you buy a product, and the token is not very different from other products, if it does not yet provide any additional rights, as they are granted by the rights of company shares, you do not need to know your financial capabilities. This is required only if you take the money on credit, then this information is important for the creditors. In other cases, your financial capabilities should not be of any interest to anyone, these are your personal data.

[SOCIAL CHAINS]

It is a standard practice in the traditional investing which is being adopted rapidly in the crypto world. The updated KYC process makes sure that ICO is not targeting or exploiting the gullible investors.

[IgniHash]

Just recently I saw an ICO that asking a monthly income and bank account statement for a KYC. It's said on their KYC form that it is important for them to know the financial capacity of their token holders or buyers.
What can you say about this requirements?
Somebody here did it before?

So ignore those projects looking to know the KYC for investing the ICO projects. If everyone started ignore them none of the company will then ask to launch the ICO. For their earning purpose only they are creating the altcoin in the market with the best project idea if they have.
I believe the projects looking for KYC details from the Illuminaties side people and grabbing the real name of the investors on bitcoin and alts. Please all be anonymous in the market. Don't rip off your face.

Yes, I agree with you. KYC is a big dilemma in Crypto. Sometimes they need our personal info to make sure that our past financial condition was good.
But for us, it's scary that our personal information shared by a stranger.

[Kulafu]

It is a standard practice in the traditional investing which is being adopted rapidly in the crypto world. The updated KYC process makes sure that ICO is not targeting or exploiting the gullible investors.

Asking your Identity and bank account is beyond standard already. Especially you are dealing with the unknown person.

[zero9119]

It is a standard practice in the traditional investing which is being adopted rapidly in the crypto world. The updated KYC process makes sure that ICO is not targeting or exploiting the gullible investors.

Asking your Identity and bank account is beyond standard already. Especially you are dealing with the unknown person.

This is beyond the intended purpose of cryptocurrency as investors are required to accurately prove their personal records and financial capabilities. I think this will not be much of a backer in the cryptocurrency market and I am not happy about that either.

[pooh95]

The KYC procedure for cryptography is very doubtful and dangerous. But to give an extract from your bank account to unknown people - is insanity. It's like showing everything in the public domain on the Internet

[Javanewstar]

This is an interesting request. I first saw an ICO project asking you to submit the bank statement.
But in some formal financial services, you are required to submit your bank statements to prevent money laundering.

[joesastro]

If I personally have never seen ICO do this before and that's just a little information to satisfy. And with the KYC system applied to the bounty, because the KYC system requested personal data. Anonymous based cryptocurrency systems. So clearly also the opposite between KYC system with Cryptocurrency system.

[mobilazy]

Cobinhood is asking this kind of information during verification. I despise this exchange. Asking too much and gives too little. Copycat of Robinhood exchange.

[Reez]

Someone has to be a fool to give the ICOs their personal documents and bank records as these ICOs have no regulatory over watch and the amount of exit scams happening in ICOs is mind boggling. Just recently two ICOs got hacked and the KYC data of their users got stolen. I wouldn't want my personal data into the hands of hackers and scammers.

[HALLASTERA]

Maybe utility bill will be more safe than bank account statement. Possible that information can getting to bad guys.