Tobias Baer takes issue with the absurd and excessive KYC(Know Your Customer, the verification of identity) requirements that lock out legitimate customers from financial services. Unless you run a criminal operation, you would most probably agree with me that financial crimes should be prevented and that KYC is a critical element in preventing the illegal flow of money. Sadly, that doesn’t mean that KYC in today’s shape and form is working well. I’ve written before about the deficiencies of a…