Is KYC Data Collection Ineffective?

The Equifax hack where we weren't even customers they were just a third party company that automatically takes data on every single American. Many of our most profitable companies not only are required by regulation to collect intimate data on us but they actually have an incentive system in place to to make money by collecting additional data on top of that. I feel like if you have privacy then you're almost you're almost censorship resistant inherently what do you guys think about that relationship between privacy and censorship resistance?