Although obviously existing for a good reason, is KYC an invasion of privacy?

KYC requires services handling money to verify your identity with both pictures of your government ID as well as images/videos of your face. Most of the time verified by a random company that could be doing god knows what with that data. Do they keep images of your face? Do they sell your personal info?

Is KYC something you would consider an invasion of your privacy? personally I hate applying for it.

IMO: I would rather the government give us …

data doing government government id handling identity images info invasion kyc money personal pictures privacy random services verified verify videos