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We decided to open our affiliate program to everyone from the beginning in 2006, no approval. When we open a new site, some webmasters would like to start promoting right away and receiving a message saying your account will be approved within 24 hours is no go for them.
We have some webmasters that register 2 or 3 years before starting promoting us!
On the other side, some Affiliate programs start to request KYC for affiliates which mean passport copy, utility bills or company information (I would say mainly in Europe for now) and I think its a good thing. Media buying companies already do it for years.
For my point of view, we have to regulate the industry on this part. As long as you are handling money, you should be able to know who will receive it in case of Money Laundering
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