America’s know-your-customer (KYC) regime got its first real teeth thanks in part to the Bank Secrecy Act of 1970. Section 326 of the 2001 USA Patriot Act then gave it its modern form, requiring that a bank have a reasonable belief that it knows the true identity of each customer before opening an account. Every rule that has been followed, in nearly every jurisdiction, inherits that same starting premise. A customer is a person, natural or legal, with a name, an address and a body of record a…