I think you're misreading my use of the word absolutely. I was responding to the idea that KYC compliance is a joke. It is absolutely useful, that does not mean it prevents 100% of fraud absolutely.

> With millions of SSN and personal information being available after numerous breaches from health care, etc how exactly are you supposed to vett someone's identity over the Internet?

I can't really get into our entire KYC and fraud prevention process, but I'll just say there are many more ways to vet someone's identity then simply asking for their SSN.