Why It's Dangerous to Share Your KYC Data
- You lose control over your identity when you don't know where or how your data is stored.
- Opaque encryption practices raise the risk of large-scale data breaches.
- No clear accountability means you may never learn if your data is exposed.
- Unmonitored access can lead to profiling, surveillance, or discriminatory misuse.
- Failing to disclose storage standards can violate privacy laws (e.g., PIPEDA in Canada).
Five Major Data Breaches
| Breach | When | Records Exposed | Key Details | Source |
|---|---|---|---|---|
| Chinese Surveillance Database | June 2025 | 4 billion | Unprotected WeChat, Alipay, banking & behavioral profiles | CSO Online |
| CAM4 Adult-Streaming Site | March 2020 | 10.88 billion | Unsecured server exposed personal & payment data | UpGuard |
| Yahoo | 2013–2017 | 3 billion | Account credentials, security questions, password hashes | UpGuard |
| National Public Data Broker | August 2024 | 3 billion | Names, addresses, birthdates, phone numbers | Wikipedia |
| ICMR Aadhaar Hack (India) | 2023 | 815 million | Biometric IDs, passports, phone numbers, addresses | Wikipedia |
Why Governments Aren't Helping
- Compulsory KYC laws force citizens to surrender SIN, passport, biometric data.
- Lack of public audits means no proof that data centers meet security standards.
- Expanding surveillance mandates increase risk of mission-creep and profiling.
- Weak or absent encryption disclosures leave critical systems vulnerable.
- Civic trust erodes when oversight bodies can’t verify real-world protections.
Example: Mandatory digital ID programs often store biometrics in centralized repositories without transparent encryption or access logs—opening millions up to potential hacking or state misuse.