Cryptocurrency, KYC and Terrorism

[kronos123]

I believe that at the exact moment you are born and registered at the registry office of your municipality you are registered and marked; at any other time in your life when you request a document from your offices (identity card, driving license, passport, etc.) your cataloging is updated and expanded, supplementing it with fingerprints and other information; when you send photos, information, tastes, political, religious, sexual and other preferences, in all the social networks and forums of today, your profile and your personal profile is even more enhanced.

All this information, data, tastes, preferences, are not easily available for 99.99% of ordinary people; all this will have access to those few people who have an interest in doing so: these can be public, national or international forces, or hackers / criminals / terrorists / scammers.

There is no way to avoid this except to disappear and be invisible to the SYSTEM; it is not enough to be absent or to have a low profile or not to participate in that ICO because you have doubts, while in this other you participate because the company is serious.

EVERYTHING OR NOTHING! THERE IS NO MIDDLE ROAD!
IN OR OUT!
IF YOU ARE INSIDE YOU ARE ATTACKABLE!

[Apes]

the issue of using or funds raising from cryptocurrency for terrorist activities has been many articles or opinions that were put forward. but it is true. in my opinion this issue is not necessarily true, it could only be used as an excuse to discriminate cryptocurrencies. or issues that are used for something specific needs, which have nothing to do with KYC. whatever the reason, I hope the OP provides clear evidence so as not to expose sensitive issues.

[Marry Finch]

KYC verification has become a big problem for investors in ICO projects, but it has become an even bigger problem for participants in the ICO bounty campaigns. Most KYC checks are carried out after the end of the ICO, when bounty hunters are no longer able to refuse to participate. After all, they have done the agreed work and are just waiting for the deserved payment by tokens. Here, KYC verification already serves as a form of fraud in order not to pay the tokens earned by us.
As for the possibility of using our data by terrorists, this, of course, is not excluded. However, I do not think that the probability is high. There are not so many terrorists using cryptocurrency in the world, in any case, not anonymous types of it.

[shoreno]

It is one of the reasons why many investors and bounty participants are objecting the use of the KYC because tgey did not trust the system where the kyc is given. Anybody can gain full access to any personal informations given by people to that particular organization. I think it is time to take a look on how the kyc is provided and who are responsible for it.

Investors are okay to kyc especially if they fully trust the company that they are investing with but in the case of bounty hunters , bounty hunters are always protesting about kyc because they think that kyc is not apropriate for bounties the same as on airdrops   . kyc is more propriate on ico , ieo , exchanges , gambling or anything that has a money involved .

[ginobitcoiner]

I understand that KYC can prevent people from abusing fraud or embezzlement of money, but on the other hand KYC can also be misused by its requesters, so that bounty participants or investors feel afraid to provide KYC documents, which are actually personal

[freedomgo]

I understand that KYC can prevent people from abusing fraud or embezzlement of money, but on the other hand KYC can also be misused by its requesters, so that bounty participants or investors feel afraid to provide KYC documents, which are actually personal

But we cannot choose not to comply with the KYC if we are interested in using or investing on the platform.
With proper regulation, the government will take care of these company who requires KYC, and they are also required by the government to obliged people to comply with the KYC, that way we feel a little safer as we have the government who are in the regulators that could sanction the company we are trusting in case they break some law.

[Pumapipa]

As a bounty hunter, I see to it that when I join signature campaigns, this should not involve any KYC. there is a big threat to the data where it goes and how it is kept. There are people who, by trying to avoid giving way their data, they would resort to submitting fake identities. I mean, can this serve as an alternative for a win-win set up?

[slaman29]

And what's the difference between a crypto platform to gather IDs, rather than any other online platform also where members have to gather IDs? It's just the same thing. Health companies. Online shops. With credit card details. Bills details. All kinds of KYC details.

Why is crypto the bad guy here?

[calya]

And what's the difference between a crypto platform to gather IDs, rather than any other online platform also where members have to gather IDs? It's just the same thing. Health companies. Online shops. With credit card details. Bills details. All kinds of KYC details.

Why is crypto the bad guy here?

crypto platform hasn't legalized yet in local government and there is no reputation at all about it.meanwhile in online platfrom they have legalization from local regulator for their operation , and one of the important point was keeping their customer identity.

[thoaihoakhop123]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

[Psynthax]

I understand that KYC can prevent people from abusing fraud or embezzlement of money, but on the other hand KYC can also be misused by its requesters, so that bounty participants or investors feel afraid to provide KYC documents, which are actually personal

That's why the ico created must do or verify to the regulators about their identity. This to prevent the possibility the ID that already used to verify KYC will be stolen by the scammer and sold it in the dark market.
KYC is good as long as the team already verified and register its company to the regulators.

[befriendmywater]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

I have the same opinion as you and this is bad. I am really afraid of my information being sold to many people for many different purposes.
If personal IDs are not valid, why do they need it? I suspect that in the future it will have a lot of harm to those who have sold personal information.

[armarsterling7]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

I am really quite worried about this issue. So far, I've provided 2-3 times of my personal information. Now I don't know what purpose it is being used for and whether it harms me.
We are still very vague about collecting this information and it really makes me very curious. we still cannot conclude anything but it is best not to sell our information.

[Ranly123]

Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.

what are your thoughts on this?

ICO funding terrorist might be true but gathering personal informations through cryptocurrency is impossible since people here in crypto are anonymous. This means, terrorists can gain funds through scamming in ICO but not personal info from crypto users.

[bitgolden]

The implementation of KYC is only to reduce their fake profiles because everyone is doing some scams also after the KYC the transaction will be more safer than before that's why the implementation is always accepted by me but I don't think that terrorism will not been involving only with the help of this problem

I think that is not because of scams.

KYC means Know your Customer, that means that the Customers are the one sending their information and not the people implementing the project or the site. I see KYC as a way to stop people from taking advantage of the referrals that is happening in the past. If people can just create a lot of accounts and refer to their main account, that would be so easy to earn money, isn't it?

Everything is still related to scam too, [people who are using different accounts for referral purpose are also scamming too, but even with the implementation of KC, I think they have still not been able to control this, because scammers too are also requesting for KYC, and these scammers would do anything to make money, even if it requires them to sell someone’s information to the people that will use them for bad intention.

For companies that are truly genuine, the main purpose of KYC is to implement government’s policy on that and also be able to guide against many people that might be using the account to launder money or move illegal money through cryptocurrency.

[lepbagong]

however, if you want to be connected, it can happen, and can't. so it's good that all who ask for kyc are indeed those that can be trusted and recognized by state rules. because without knowing who is asking for it, it might not be able to guarantee that personal identities not misused for any purpose can occur. so it's good if you can avoid making sure to include Kyc.

[kronos123]

And what's the difference between a crypto platform to gather IDs, rather than any other online platform also where members have to gather IDs? It's just the same thing. Health companies. Online shops. With credit card details. Bills details. All kinds of KYC details.

Why is crypto the bad guy here?

You're right, and in fact there is no difference .... not even when you take the card points to LIDL, AUCHAN, CARREFOUR, Etc. and provide your data .... and that's what I wrote a little higher.
Soon all this will be just a memory and the ICO's will disappear completely.

Already now they are partially replaced by the new IEO fashion, in which the KYC is done ONCE with the exchange, and not 100 times for different and unknown 100 ico; the kyc with the exchange is perhaps a little safer and guarantees some greater level of security.

A few more months and by 2020 we will certainly have clear regulations and laws in the crypto area, mandatory KYC / AML on trade, and there will be new STO's, replacing IEO's.

[roosbit]

Submitting KYC documents or information to unknown people could be used for other illegal activities (if it is a sketchy project) but without proof of how docs are misused and how this has been connected to terrorism is FUD or good as any speculation.
TBH I think using crypto to be funded for such terror activities could be a total loss as limits are put on selling crypto on most exchanges which makes this a bad choice for these guys.

[Mometaskers]

That's why you have to be cautious with ICOs. If they are asking for KYC you're probably just better of using your money to buy already established crypto like BTC or ETH.

KYC can't be helped with exchanges though, especially if you are using that for cashing out fiat.

[Helpme_please]

That's why you have to be cautious with ICOs. If they are asking for KYC you're probably just better of using your money to buy already established crypto like BTC or ETH.

KYC can't be helped with exchanges though, especially if you are using that for cashing out fiat.

KYC in my opinion very very personal data.personally i am prefer to avoid projects that required my personal data.buying existing coins in market will give me more certainity.maybe IEO now be my choice.