infinitesunrise comments on If you had any doubts that Know-Your-Customer laws were evil, here is one very good reason: personal data of 1 BILLION people just leaked.

[–] infinitesunrise@slrpnk.net 10 points 8 months ago* (4 children)

Why? Little corporations must comply with KYC law, too. They're all required to gather personal data.

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[+] bacon_pdp@lemmy.world 2 points 8 months ago (4 children)

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[–] privatepirate@lemmy.zip 2 points 8 months ago (3 children)

Ok but how would that even work? When a company's product/service is good, then people start recommending it to others and more and more people start using it. The only way to stop companies from growing big is to force them to stop accepting customers after a certain point.

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[+] bacon_pdp@lemmy.world 3 points 8 months ago (3 children)

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[–] privatepirate@lemmy.zip 0 points 8 months ago (2 children)

Then the big companies will just operate under multiple names to commit tax evasion like they already do and pay off the politicians to let them.

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[–] phutatorius@lemmy.zip 1 point 8 months ago (1 child)

So your reasoning is that it's not enforced now, so it'll never be enforced?

Okay, no point in bothering then, huh?

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[–] privatepirate@lemmy.zip 2 points 8 months ago

I'm saying that the big corporations have such a strong foothold that I personally don't think we will ever be able to properly regulate them when they can pay off all of the politicians. I'm not trying to be a doomer, those are just my beliefs.