You are at the risk of getting hacked, if KYC compliant. – Bitcoints

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Published on August 16th, 2015 | by bitcoin

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You are at the risk of getting hacked, if KYC compliant.

KYC, AML and ABC (Anti-bribery and corruption) compliance are water to the sharks, whales and bubble fish of the financial industry.
The collection of customer identity and activity data is such a tradition that even during a recession, the compliance officer industry is booming.
Regulator’s role is to pressure banks and exchanges into compliance, while law enforcement attempts to hook onto the bigger fish.
The fact that a crucial government database like the OPM was hacked, does not mean that more responsible organizations will also get hacked.
This must have KYC reliant government and financial services rather nervous about the growing potential for fraud and identity theft.

Source: Cointelegraph.com

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