Yeah, getting your details hacked is the scariest part. With these documents, criminals can breeze through any other KYC in an instant, pretending to be you.
Another thing with KYC is they are above all privacy laws, including GDPR. For example, services are not allowed to delete your private account details even if you close your account, for 5 years or more. Also, as an account holder, you are not allowed to know who your KYC details were shared with the government / law enforcement, and why. You are not even allowed to view the warrant (should there be one).
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Yeah, getting your details hacked is the scariest part. With these documents, criminals can breeze through any other KYC in an instant, pretending to be you.
Another thing with KYC is they are above all privacy laws, including GDPR. For example, services are not allowed to delete your private account details even if you close your account, for 5 years or more. Also, as an account holder, you are not allowed to know who your KYC details were shared with the government / law enforcement, and why. You are not even allowed to view the warrant (should there be one).