You’re mistaken protecting you from a company protecting their own liability. The industry agreed on a level of compliance… they price the cost of fraud in … and leave the rest to the authorities. It never has been about solving fraud … it’s about protecting their intent. Businesses don’t intend to enable crime … so KYC places the intent on those who falsify identity. And protects the company from prosecution. EXCEPT WHEN THEY ENABLE CRIME & DONT LAWYER UP.