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KYC/AML Evolution
- KYC/AML has evolved from verifying identities to managing digital personas.
- This shift complicates compliance due to the numerous digital representations of individuals.
Humans vs. Corporations
- Humans and corporations are distinct legal entities with different rights and liabilities.
- This distinction poses challenges for KYC/AML compliance.
Banks' AML Burden
- Banks unfairly shoulder much of the blame for AML failures.
- They must balance economic activity with risk management, facing constant pressure.