Hacker News new | ask | show | jobs
by rsync 766 days ago
I think my point was unclear ...

What I am saying is, there is no reason for other firms to perform KYC because it is totally redundant. The banks already have to do it and they have a better view of the transaction flow anyway.

Any KYC that your ISP might do would be both redundant and inferior to what your bank is already doing.

It is a waste of resources - and a drag on smaller businesses - to do this work twice.