Why are banks asking for KYC again?

Excuse me, but could you elaborate on the recent trend of banks requesting Know Your Customer (KYC) information once again? It seems somewhat unusual given the widespread adoption of digital banking and financial services. Could there be any specific reasons behind this renewed focus on KYC, perhaps related to increased regulations, security concerns, or a shift in risk management strategies? It would be greatly appreciated if you could shed some light on this matter.