The Case of The Stolen Identities

[KYCbench]

Over the last months there where many posts of people that reported about their funds being stolen from exchanges. Also many ICO's coming up, asking for KYC before getting "free" tokens airdropped. The KYC procedure requires sending a passport scan and/or selfie.

In late September 2018, Comparitech searched listings on several illicit marketplaces to find out how much passports are worth on the dark web. Those black markets include Dream Market, Berlusconi Market, Wall Street Market, and Tochka Free Market.

A typical dark web listing includes a passport scan with a selfie of a person, holding a passport.

These real scans of actual passports cost around $10 each and are often sold in bulk. They are available for several countries and are fairly common. If proof of address or proof of identification is added to a passport scan, the average price increases above $60.

That's one way for people to make money using your information. The next step however could have far bigger consequences when they use the info to steal your funds from exchanges.

Behind each ICO and exchange there is a KYC provider or platform, which is hired to perform KYC verification, as usually the amount of registrations is so high, that professional KYC specialist company is required to process all these data. In this case ICOs and exchanges even don't have access to your personal documents - they get KYC approval and the users can proceed.

Reliable companies as KYCBench are extremely looking after security of data processing and storage, spending time and money to apply best international practices, like ISO27001 certifications, security and making sure that they are compliant with various legislations, including GDPR.

As a customer before uploading your documents you can always ask for info about KYC processing provider and make your own decision if it is trustworthy. As well as request your data to be deleted immediately after verification.

KYCbench, your reliable KYC partner
www.kycbench.com
GDPR & ISO/IEC 27001:2013 compliant

Please contact KYCbench today, the most reliable ID verification processor at: [email protected]

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