111–120 of 395 posts
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They collect biometric data (selfie) plus a copy of your drivers license? That's a big part of KYC/AML. That's a huge difference from address, email, CC number.
At a quick reading, it doesn't sound like those are requirements. It also doesn't look like any documentation is technically required. One of the methods permitted is "Verification through non-documentary methods".
For those who didn't know, KYC stands for "know your customer". It's a good idea to spell out abbreviations the first time they're used, especially since the abbreviation itself is not used in the linked article. It's also worth noting that the proposal is about US infrastructure as a service (IaaS) products specifically, not "internet services" in general.
Yeah this is a very industry standard term in banking and anyone in that industry is going to immediately know what you are talking about, but outside of that industry, chances are high that a layman will not
For those who didn't know, KYC stands for "know your customer". It's a good idea to spell out abbreviations the first time they're used, especially since the abbreviation itself is not used in the linked article. It's also worth noting that the proposal is about US infrastructure as a service (IaaS) products specifically, not "internet services" in general.
KYC in the context of internet services stands for "violating the 4th Amendment".
Isn't effectively the majority of what the Snowden leaks covered essentially violating the 4th amendment?
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I'm going to need another intelligence to read the full text. "U.S. IaaS providers and foreign resellers of U.S. IaaS products must exercise reasonable due diligence to ascertain the true identity of any customer or beneficial owner of an Account who claims to be a U.S. person." So at a minimum, everyone's identity is verified by IaaS provider. If you claim to be a non-U.S. person, additional information is collected…
Dreamhost, Wordpress, etc
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Yeah this is a very industry standard term in banking and anyone in that industry is going to immediately know what you are talking about, but outside of that industry, chances are high that a layman will not
KYC is that poorly known? I would have expected most white-collar professionals to have at least heard of it.
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I think that the biggest argument in favour is that it would remove anonymity on the internet, at least from governments, and that could enable law enforcement to more easily find people committing real crimes. CSAM, scams, etc. I think the biggest argument against it is that this removes anonymity on the internet, at least from governments, and that would remove people's ability to freely voice their opinions withou…
Does this actually remove anonymity on the internet? It seems to de-anonymize a set of IaaS customers, sure; but that's not nearly the same thing as removing anonymity completely. I've only just scanned this but it seems at first glance to mean that a foreign company can't anonymously spin up an AWS instance, that's all. Am I reading this incorrectly?
There are so many things that can fall under the IaaS bracket. Think anything 'cloud'. Maybe that's not how they'll apply it, but legally they are free to do so. It's a huge reach.
Earlier quoted context omitted.
KYC in the context of internet services stands for "violating the 4th Amendment".
I don't disagree with your premise that KYC enables governments to violate the 4th amendment, but in general, for certain industries this is just generally a really good idea. Banking is the first industry where I encountered KYC, and it strikes me as being obviously good there. Isn't effectively the majority of what the Snowden leaks covered essentially violating the 4th amendment?
Comparing what one individual did in the past to a formal government policy doxxing away peoples' 4th amendment rights is a strawman argument.
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The fourth amendment? > “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things ...
How does verifying your identity in any way violate that, though? You have a physical address that you live at, and the government verifies that you are the person living at that address, and that is not violating the fourth amendment. This would be pretty similar to that.
Earlier quoted context omitted.
Yeah this is a very industry standard term in banking and anyone in that industry is going to immediately know what you are talking about, but outside of that industry, chances are high that a layman will not
KYC is that poorly known? I would have expected most white-collar professionals to have at least heard of it.