We’re afraid of KYC because....

[swogerino]

The only potential issue might be the process of de-anonymization - that is, if your anonymity is truly important to you.
But here we mustn’t forget how many "digital footprints" we’ve already left in other places - banks, the police, insurance companies, hospitals, employers....
Share your thoughts - what real risks and SCENARIOS for their occurrence do you see in KYC? I’m specifically interested in the SCENARIO of what might happen and, in your opinion, how it would unfold step by step. Perhaps by analyzing these scenarios, we can find some solutions?

Honestly, the thing I fear most about KYC is the exposure of my residential address. I know that many people have already left behind a significant digital footprint, especially through the websites they visit; whether via stored logs containing hardware and software details, or IP addresses. In my view, both that residual digital footprint and the data submitted for KYC represent potential risks. Well, I don't necessarily expect my worst-case scenario to actually happen, but it clearly poses a threat, doesn't it ? A direct physical attack is what I fear the most.

Nowadays I don't know what country do you live in but physical attacks in most countries, I mean developed ones are rare. They do happen from time to time but directly targeting an individual from a KYC details I have never such thing happen. Now somewhat it reminds me the movie Firewall from 2006 with Harrison Ford that they did target because inside information and people not necessarily the KYC or something like that.

[Yablee0]

I understand that it is not a financial loss, but when we look at it from a different perspective the risk attached to losing your personal data to a hacker who is a total stranger is high, and it is something we need to be worried about.

Sometimes you can't even eat something throughout that period or even think straight. All what will be going through your mind is how insecure you are. Again, sometimes in most cases,  you risk going through high blood pressure or serious mental stress even before facing the real problem.

Once someone commit a crime using your personal data you're to be held accountable, and if you are unable to provide a convincing evidence that you were not the one behind that crime them you have to face the the consequences.

This is just the fact. Nobody will want to hear from you since your entire details is all over the crime scene. Who will believe you despite how you try to prove that you're innocent. This is a worst moments ever that no body should pray for.

I have witnessed cases were people went to jail for crimes they never committed, simply because their personal information were used to scam people.

It's happening on a regular basis. If you must know, more than 60% of the prisoners in recent time are innocent people, probably they were just victim's of circumstances.

[WhoYouCantKill]

Nowadays I don't know what country do you live in but physical attacks in most countries, I mean developed ones are rare. They do happen from time to time but directly targeting an individual from a KYC details I have never such thing happen. Now somewhat it reminds me the movie Firewall from 2006 with Harrison Ford that they did target because inside information and people not necessarily the KYC or something like that.

Just because you’ve never seen it happen doesn’t mean it doesn’t, it’s not as if it’s everything that’s covered in the news or posted on the internet, some of these things can happen and no one would even know about it. Especially when it involves wealthy individuals, because many wealthy people are targeted so it’s only logical for them to be careful, and that’s why they’re mostly the ones who fear the most when it comes to giving away their personal data all in the name of KYC. They’d rather visit a physical casino than give up their data just to gamble online.

[leea-1334]

I believe many of us who come to crypto gambling come because we have no options in the real/licensed fiat bookie.

And deep down whether we admit it or not, we know our governments watch us,,, so to KYC is a big risk because if that data is shared back then our governments know our activities, and then who knows what happens there.

Like what @WhoYouCantKill says although in a different context,,, just because you never seen it happen does not mean it does not.

[lionheart78]

The topic of the dangers or inappropriateness of the KYC procedure in the gaming sector has been raised here many times.
Here’s my take: the KYC procedure is potentially unsafe if this data is stolen or deliberately used by the platform for illegal activities. Yes, it also happens that platforms hire third parties to handle this procedure.
But here’s my question: it seems to me that the information on your driver’s license, for example, wouldn’t allow someone to take out a loan in your name, open a bank account, sell your real estate, or withdraw money from your bank card.
The only potential issue might be the process of de-anonymization - that is, if your anonymity is truly important to you.
But here we mustn’t forget how many "digital footprints" we’ve already left in other places - banks, the police, insurance companies, hospitals, employers....
Share your thoughts - what real risks and SCENARIOS for their occurrence do you see in KYC? I’m specifically interested in the SCENARIO of what might happen and, in your opinion, how it would unfold step by step. Perhaps by analyzing these scenarios, we can find some solutions?

De-anonymization in a centralized institution that already had our data is somehow impossible.  Tak for example that data filed in the government, our birth certificates, our identity on banks when we open accounts.  Our voter information and so on.

We all know that the government has very poor means of securing our data, there are lots of news about government data breaches.  So even if we don't want to do any KYC, our information has already been filed in government offices and banks, and someone already has access to our financial and personal information.

There are lots of risks associated with KYC, but this risk is only triggered when the one keeping the data safe bears an ill-intent or is hacked by criminals.  Those who get our information can impersonate us to scam others or hack our financial accouants especially if the hacker gets a hold of our financial information.

[Myleschetty]

The only potential issue might be the process of de-anonymization - that is, if your anonymity is truly important to you.
But here we mustn’t forget how many "digital footprints" we’ve already left in other places - banks, the police, insurance companies, hospitals, employers....
Share your thoughts - what real risks and SCENARIOS for their occurrence do you see in KYC? I’m specifically interested in the SCENARIO of what might happen and, in your opinion, how it would unfold step by step. Perhaps by analyzing these scenarios, we can find some solutions?

Honestly, the thing I fear most about KYC is the exposure of my residential address. I know that many people have already left behind a significant digital footprint, especially through the websites they visit; whether via stored logs containing hardware and software details, or IP addresses. In my view, both that residual digital footprint and the data submitted for KYC represent potential risks. Well, I don't necessarily expect my worst-case scenario to actually happen, but it clearly poses a threat, doesn't it ? A direct physical attack is what I fear the most.

Nowadays I don't know what country do you live in but physical attacks in most countries, I mean developed ones are rare. They do happen from time to time but directly targeting an individual from a KYC details I have never such thing happen. Now somewhat it reminds me the movie Firewall from 2006 with Harrison Ford that they did target because inside information and people not necessarily the KYC or something like that.

Just hope that you won't be physically attacked by someone using your exposed KYC information.

I think the information shared on this forum about people who experienced it in France and other countries should serve as a lesson for us to be mindful of our digital footprint.

If we think that this is something that doesn't happen in most countries as you said, you should realize that we don't know what will happen in the future, especially true now that all institutional ETF platforms are looking for any way to add more Bitcoin to their holdings in exchange for their ETF shares before allowing whales to join their platform.

If this keeps happening, there will be a rise in physical attacks on exposed Bitcoiners.

Remember, every piece of personal data we currently safeguard through the information we shared with casino/sportsbook is due to both current events and potential threats from unanticipated events.

[blockman]

It's not new to me that what you have stated OP is one of the dangers of KYC. When it's leaked and got into the wrong hands then that's the risk that we're talking about it. We've got it in our government where our data has already been leaked and sold in the dark market and that's why we couldn't careless anymore about the situation. While in the business procedure of the casinos why they have to do it, they also have to protect it as they're being required to. They pass on the requirements to us and even if they do not want it to happen, we have no choice especially if we have funds left on them.

Data leaks are one of the reason why I don’t like platforms that usually ask for kyc, many people are in jail today because someone used their personal information to scam others. We should be careful how we give out our personal informations to platforms, especially if we have no idea on how strong their security systems are, because there are platforms with weak security systems, also when the platform have unclear ownership or no clear reason why are collecting personal data.

If it's with the platforms that we use aside from the casinos, I think that we have no option to comply with it. Mostly with the platforms that are part of our daily lives. But this is all about casinos, the same problem occurs about the worry that we have for these data leaks once the database of a casino has been hacked. It's part of that thought that it's likely that our information have been already somewhere in the dark market which is about to be sold. We have no control over this matter and this is why it's up to each of us whether to proceed the kyc process or not.

[Charles-Tim]

Nowadays I don't know what country do you live in but physical attacks in most countries, I mean developed ones are rare. They do happen from time to time but directly targeting an individual from a KYC details I have never such thing happen. Now somewhat it reminds me the movie Firewall from 2006 with Harrison Ford that they did target because inside information and people not necessarily the KYC or something like that.

Just because you’ve never seen it happen doesn’t mean it doesn’t, it’s not as if it’s everything that’s covered in the news or posted on the internet, some of these things can happen and no one would even know about it. Especially when it involves wealthy individuals, because many wealthy people are targeted so it’s only logical for them to be careful, and that’s why they’re mostly the ones who fear the most when it comes to giving away their personal data all in the name of KYC. They’d rather visit a physical casino than give up their data just to gamble online.

I am surprised that swogerino or someone that is actively posting on the gambling board posted this. How can he prove that all the people that have been attacked and known, there is none about gambling?

It is not even a matter of something like that to happen, rich people can think of avoid of not doing it even if no one is affected.

The reason I posted is to post something about the going to physical casino that WhoYouCantKill posted about. Physical casinos is also not having privacy at all. There are people that know you that you do not know. They know when you are going to office and when you are going to the casino. We have discussed two cases on this forum that someone won huge amount on physical casino and got attacked on his way home. This kind of news is not common, but it can happen.

[TedMosby]

[...]
Share your thoughts - what real risks and SCENARIOS for their occurrence do you see in KYC? I’m specifically interested in the SCENARIO of what might happen and, in your opinion, how it would unfold step by step. Perhaps by analyzing these scenarios, we can find some solutions?

For example, your data being traded and used by other casinos or services that can support your gambling activity, like online loan platforms. You lose, you need money, you are offered a loan with a high interest rate. You chase your losses with that money, you lose, you need money to play again and pay the loan, you are offered another loan by other online loan platforms, and so on. That's the death circle.


Don't get me wrong, I value privacy. But the way people see KYC like a nightmare feels overreacting sometimes. It's good for those who are still "virgin" on the internet, but what about people who are already exposed on the internet, intentionally or unintentionally? Like, how many digital footprints have you left since the beginning, before you knew Bitcoin, that changed your mindset about privacy?

Me, for example, I live in a country where many services from companies (banks, etc.) or the government that we already use have been hacked several times. This leads to our data being sold on online forums. In this condition, I just have no idea whether to loosen myself about KYC things or keep being strict. In gambling, where I see it as entertainment, KYC is something that I think is not necessary, so I avoid KYC on gambling. But for crypto exchanges, banks, or other things that involve bigger money and for safety reasons, I am okay with KYC.

For me, KYC is just like women's virginity. When you are still a virgin, you tend to protect it as much as you can to stay a virgin. But when you are not a virgin anymore, you may loosen up on it, while making sure all you do is still safe. Sorry if my analogy sounds weird or inappropriate, but I don't know how to describe it well. I am one of those people who is already not a virgin on the internet.

[WhoYouCantKill]

The reason I posted is to post something about the going to physical casino that WhoYouCantKill posted about. Physical casinos is also not having privacy at all. There are people that know you that you do not know. They know when you are going to office and when you are going to the casino. We have discussed two cases on this forum that someone won huge amount on physical casino and got attacked on his way home. This kind of news is not common, but it can happen.

Well that just proves that everything has its own disadvantages. But I think with physical casinos it’s a lot more controllable because except you go on blabbing in the casino about your win, no one except the casino owners would know about it, so if eventually you get attacked on your way home, you know exactly who to hold responsible and take actions against for that, because it’s either they told the people that attacked you or it was them who attacked you, either ways they’ll be help responsible for it.

While online on the other hand, you don’t know who gets your details, full name, home address and other relevant information that can lead them straight into your home, and the attack may not happen immediately, so no one would suspect the casino or anyone related to them, it could be assumed that it was just some random attackers, and in the end there’s absolutely no one you can hold responsible for anything.

[letteredhub]

Honestly, the thing I fear most about KYC is the exposure of my residential address. I know that many people have already left behind a significant digital footprint, especially through the websites they visit; whether via stored logs containing hardware and software details, or IP addresses. In my view, both that residual digital footprint and the data submitted for KYC represent potential risks. Well, I don't necessarily expect my worst-case scenario to actually happen, but it clearly poses a threat, doesn't it ? A direct physical attack is what I fear the most.

Nowadays I don't know what country do you live in but physical attacks in most countries, I mean developed ones are rare. They do happen from time to time but directly targeting an individual from a KYC details I have never such thing happen. Now somewhat it reminds me the movie Firewall from 2006 with Harrison Ford that they did target because inside information and people not necessarily the KYC or something like that.

The threat can come from anywhere both from insider unethical conducts or a KYC hack which is somewhat possible regardless of any country, the only difference is that I'm some places it's not an unusual occurrence. What I personally have fears for is about how often we on request easily hand out our details to every platforms we visit. As this continues it increases the risk of our informations to falling into the wrong hand unlike when it's with just a few reputable platforms.

[bakasabo]

Maybe people simply dont like to share information about themselves for no reason. It does not matter who is asking for KYC, casino, exchange, project or stranger on the street. From childhood we were taught not to talk and tell stranger where we live, names, addresses and etc. KYC is advanced version of what were where told not to do. We were raised to be cautious and suspicious. So a person does not want to pass KYC not because he is afraid data might be lost, stolen or he cares about privacy, but that is persons nature.

[Sanitough]

Someone else can use your data to register in other platforms using it for illicit activities and if he gets caught, it will be traced back to you and that will land you in a big problem.

We hope that our data is in save hands for our own safety. Wrench attack is also possible.

I think security has improved now, it’s not the same as before where you just write your name and upload your documents. Now it’s different, many platforms require a live selfie while holding your document, so if the details or face don’t match, they won’t approve the verification.

Any platform that is not doing this is not really helping improve security, especially when regulators already require stronger KYC procedures.

[hmbdofficial]

The most problem is the issue of phishing attacks. Just because hackers get a site's customers KYC information, it has been used to steal money from customers several times.

I think that should be enough reason some people may prefer privacy because if home addresses or other information is breached by the hackers, some people can be safe from wrench attacks. If not the person, it can be the family of the person that will be the victim.

Another one is that some people have huge amount of bitcoin and some other cryptocurrencies. I expect them to use mixer for it, but they prefer privacy in a way the coins can not be traced.

Some people are careful but still prefer no KYC.

I like the way you made the pion clear which I agree with all that you’ve said. I also want to add just another reason that makes some people to prefer No kYC. There are some countries that gambling is prohibited and its like a serious crime against you when you’re caught, it might sound strange but I know exactly what I am saying. in such countries, citizens that are into gambling do not want to be linked with any KYC registration such that their other details don’t get links or connected to any gambling platform.

[TheUltraElite]

If someone feels that giving your KYC to a casino would risk exposing that information to illegal actors, you are quite late because places where you have already submitted KYC documents, like government websites and all, already may have been compromised and data leaked before you know.

Rather one has to learn how to live with this data leak that has already happened. Nothing to be scared of in reality.

If someone does not want to submit these things, then do to no-KYC platforms which will eventually reduce in number as time progresses.

[Fiasem20]

It’s not like everyone is afraid of kyc,everyone has their own preference.The reason why most people are scared of using kyc casinos is the fact that most casinos are capable of sharing/selling their customers personal information to an unauthorized third party.Then again most customers that usually don’t prefer using kyc wouldn’t bother sharing their real personal information to a kyc casino and when your personal information isn’t corresponding to your real personal information and when the casino finds out they would restrict your account or the casino might cause a delayed withdrawal till your fill in your real personal information.I don’t honestly blame any gambler that doesn’t use kyc casino,most customers account have been compromised through their personal information.

KYC is really needed in current online era.
And the biggest risk for me is not that hacker will empty my bank account with my ID tonight because I have done KYC.

The biggest risk here is that a copy of my permanent identity data is entering an ecosystem where I don't know how many companies and provider are holding it, also I don't have any control over their security failure.

Exactly, everyone has their own personal opinion why they don't use kyc casinos. In your own perspective you're concerned about your permanent identity data with the provider and companies holding it, while others are concerned about their privacy.Actually you're right,they could be a data breach in the provider or company holding customers personal information and hackers can steal the customers personal information and use it for the purpose of impersonation. That is why it is crucial to preview the reputation of a casino and it's providers before releasing your personal information,it's crucial to access how long their KYC provider has been secured without any record of data breach before submitting your personal information.

[davis196]

The topic of the dangers or inappropriateness of the KYC procedure in the gaming sector has been raised here many times.
Here’s my take: the KYC procedure is potentially unsafe if this data is stolen or deliberately used by the platform for illegal activities. Yes, it also happens that platforms hire third parties to handle this procedure.
But here’s my question: it seems to me that the information on your driver’s license, for example, wouldn’t allow someone to take out a loan in your name, open a bank account, sell your real estate, or withdraw money from your bank card.
The only potential issue might be the process of de-anonymization - that is, if your anonymity is truly important to you.
But here we mustn’t forget how many "digital footprints" we’ve already left in other places - banks, the police, insurance companies, hospitals, employers....
Share your thoughts - what real risks and SCENARIOS for their occurrence do you see in KYC? I’m specifically interested in the SCENARIO of what might happen and, in your opinion, how it would unfold step by step. Perhaps by analyzing these scenarios, we can find some solutions?

There were cases in my country, where people had their personal information stolen and somebody took loans on their behalf without their permission. This happened in the past, and maybe the banks and payday loan companies had improved their loan approval process, so that nobody could take out a loan by using other people's IDs and sensitive info. I would be terrified, if someone had used my ID to do some illegal sh*t and the police knocks on my door some day. I don't want to get into detail about the potential scams and crimes, which can be committed with stolen IDs. Let's not give away more ideas to the wannabe scammers.

[Ziskinberg]

There were cases in my country, where people had their personal information stolen and somebody took loans on their behalf without their permission. This happened in the past, and maybe the banks and payday loan companies had improved their loan approval process, so that nobody could take out a loan by using other people's IDs and sensitive info. I would be terrified, if someone had used my ID to do some illegal sh*t and the police knocks on my door some day. I don't want to get into detail about the potential scams and crimes, which can be committed with stolen IDs. Let's not give away more ideas to the wannabe scammers.

What kind of bank would have that kind of control, releasing a loan even if the borrower is not the actual person?

For me, the bigger risk here is not really on the person whose name was used, because with proper legal help he should be able to clear his name. The bigger problem is on the bank, because they were the ones who got scammed, possibly through their own employee.

[angrybirdy]

Someone else can use your data to register in other platforms using it for illicit activities and if he gets caught, it will be traced back to you and that will land you in a big problem.

We hope that our data is in save hands for our own safety. Wrench attack is also possible.

I think security has improved now, it’s not the same as before where you just write your name and upload your documents. Now it’s different, many platforms require a live selfie while holding your document, so if the details or face don’t match, they won’t approve the verification.

Any platform that is not doing this is not really helping improve security, especially when regulators already require stronger KYC procedures.

But still we cant easily remove the thoughts for some people that having KYC means our datas could potentially use in any illegal activities regardless if they submit it with manual process or writing details in a piece of paper or thru advance website fill up forms & verification. Some people wants to make sure that their identity will be safe and secured that's why they dont easily trust some platforms that requires KYC. they dont want to compromise so for them, its "better to be safe than sorry " Securities was really improve nowadays due to advance technologies and at the same time, the hacking incidents follows as well.

[Bryan jessy]

Nowadays I don't know what country do you live in but physical attacks in most countries, I mean developed ones are rare. They do happen from time to time but directly targeting an individual from a KYC details I have never such thing happen. Now somewhat it reminds me the movie Firewall from 2006 with Harrison Ford that they did target because inside information and people not necessarily the KYC or something like that.

Just because you’ve never seen it happen doesn’t mean it doesn’t, it’s not as if it’s everything that’s covered in the news or posted on the internet, some of these things can happen and no one would even know about it. Especially when it involves wealthy individuals, because many wealthy people are targeted so it’s only logical for them to be careful, and that’s why they’re mostly the ones who fear the most when it comes to giving away their personal data all in the name of KYC. They’d rather visit a physical casino than give up their data just to gamble online.

Maybe he has not heard of such thing or see someone who has fallen victim of physical attack, it do happen in my country, nowadays it is even the most common way of rubbing people now, that is the reason some persons avoid displaying some certain achievements in the Internet because it could be that your social media page is filled with friends and family most of them can attack a person or just organize people to harm the victim, I am so scared that I find linking any of my details that is connected to my wallet or bank account strange especially if I am not sure of the security of that site, I dare not because nowadays you can not trust anyone and anything is possible.