Since PiggyBank , being part of the TracklessBank circuit, can operate using multiple banking licenses, under different jurisdictions and providing offshore escrow accounts, it is not obliged to perform the Know Your Customer (KYC) procedure. PiggyBank does not carry out anti-money laundering (AML) compliance activities, as it legally makes use of the AML which, without fail by law, is carried out by the banking institutes that introduce FIAT into the banking circuit.