We have obligations to the rest of the world as well. This KYC structure built by us is not of our own only; it is based on the consensual approach by all the committed nations. It is for the general good of the citizens of the world.
Compliance with AML/CFT law and regulations in these financial institutions require high commitments with non-compliances being seriously dealt with. At the international level, we have witnessed that banks have been penalized billions of dollars for failure to comply with AML/CFT directives.