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Author Topic: AML/KYC Explained  (Read 201135 times)
vishudda
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May 09, 2018, 06:19:39 AM
 #301

Very well explained about the KYC and AML process. These days, not just the exchanges, before the investments in the whitelist process ICOs are asking for KYC process to make sure that the investor is a genuine investor. After checking the complete information of the person who applied for whitelist will be the eligible person to invest in the tokens. I would like to know, is it safe to process KYC with ICO companies even if we invest less amounts?

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May 10, 2018, 11:41:03 AM
 #302

Yes, KYC information has a disadvantage where our information is spreaded around the internet. But, I think it is a good idea as it generally protects the customer, in a case if someone does a fraud transaction. They can trace it back to the person and save the victims.

And how about the case when your personal info that you willingly gave to a "known" 3rd parties
for accessing ICO or any other service gets used to do the fraud transaction or any other
financial or legal transaction without your knowledge.

Who will be traced at the end?!
Don't tell you never thought of that possibility or never heard of identity theft?!   Huh

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May 15, 2018, 11:49:38 PM
 #303

Very well indeed. A thorough look of how to be able to know about KYC. It's becoming a headache nowadays for the ICOs. The anonymity is being compromised yet if some needs to filter frauds and scams as well. But the danger really is identity theft. That's really the primary concern when the info is being hacked or leaked. Well we do it in exchanges so just take the risk yourself.

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May 16, 2018, 09:22:55 AM
 #304

That was very useful, a im writting this reply to get more activity Smiley

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May 16, 2018, 08:24:07 PM
 #305

In general, I'm not against KYC, the most important thing is that the verification is adequate. Because sometimes it suits, it remains to send more of their tests for completeness of the picture.

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May 18, 2018, 09:37:29 PM
 #306

Thanks, I have really learned a lot of new about KYC!
But I don't love KYC. I very much am afraid for the personal data that they haven't gone to darknet and my person wasn't lit somewhere in Brazil on a poster or somewhere else.

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May 19, 2018, 03:57:08 PM
 #307

I think the KYC policy is very important, after that the ICO, Airdrop, Bounty campaign should apply KYC policy to all members.
I've seen many spammers, cheats ... They get tokens in such ways I think it's unfair to others. And it will destroy a nice project

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May 20, 2018, 08:36:05 AM
 #308

Hi I fm India... I have no passport

I got Aadhar Card

Will aadhar card can be used as KYC for International Exchanges

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May 20, 2018, 08:49:23 AM
 #309

Hi I fm India... I have no passport

I got Aadhar Card

Will aadhar card can be used as KYC for International Exchanges
What is Aadhar Card? sorry i'm not from India so i don't know about that card. Is it one of Debit/Credit Card in your country?

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May 23, 2018, 03:59:49 AM
 #310

Hi I fm India... I have no passport

I got Aadhar Card

Will aadhar card can be used as KYC for International Exchanges

You should ask Passport from your gov. It's a international well known document.
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May 23, 2018, 10:16:25 AM
 #311

Was the biggest fraud in the history of bitcoin. Medium trading like 01 btc to 10 btc should be ignored. If those people do tend to sell out those info. I think it is a good idea as it generally protects the customer. What a plague this has been on the industry. After checking the complete information of the person to invest in the token. The danger really is identity theft.
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May 24, 2018, 04:08:39 PM
 #312

Was the biggest fraud in the history of bitcoin. Medium trading like 01 btc to 10 btc should be ignored. If those people do tend to sell out those info. I think it is a good idea as it generally protects the customer. What a plague this has been on the industry. After checking the complete information of the person to invest in the token. The danger really is identity theft.

I agree at least up to 5 btc should be ignored. 

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May 25, 2018, 12:29:01 AM
 #313

I'm glad I saw this, been wondering what KYC means, the full meaning that is, I know the process, as I see it everywhere this days, but I keep forgetting to checkout the full meaning. Thanks for this.
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May 26, 2018, 12:40:32 AM
 #314

Hi,
About proof of address.
I dont have bankstatement, so can i used what instead of it?

Thank for sharing

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May 26, 2018, 05:08:11 AM
 #315

Hi,
About proof of address.
I dont have bankstatement, so can i used what instead of it?

Thank for sharing
You can use anything proof at least on that proof have your name or your address home. An example you using bill electricity, phone, water anything atleast have some information about you.

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May 27, 2018, 04:01:10 PM
 #316

I think the goal and the mission of implementing KYC to some bounty campaign has a positive reason and me myself has to go through this KYC Process in order to participate in their bounties but I am okay with it because for me it is a good thing that they should know who is their customer or investor and to prevent laundering or scamming their campaign. So I am okay with it and I support it.

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May 27, 2018, 04:13:07 PM
 #317

Is there any way that AML/KYC processes can be undertaken by an ICO company manually?

Any resources and help will go a long way  Cheesy
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May 28, 2018, 06:42:05 AM
 #318

Isn't it a time to add Circle.com to the lists?
As far as I saw they request customer information and refer to KYC during registration

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May 30, 2018, 07:47:52 AM
 #319

I, personally, am not a fan of KYC. I'm a firm believer that anonymity was included into crypto by design. I mean obviously there are going to be other people that feel another way, but I guess some of us just aren't comfortable sharing so much information.
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May 31, 2018, 01:38:11 PM
 #320

I think the concept to cryptos totally anonymous (as long it's only cryptos).
most of the countries in the world will not request any tax as long it's cryptos and not fiat money.

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