KYC? You Can't Controll Me!

Ultimately, KYC requirements are sold as a form of consumer protection by making sure that only those "trusted" financial institutions offering appropriate products and services have access to customers’ details; thus helping protect consumers from any potential risks associated with dealing with unreliable or fraudulent organizations. By controlling what you can buy through these regulations; governments are able to ensure that citizens remain safe from any deceptive practices that may be used against them while still enabling them free access to "legitimate" services and goods.