People objecting to the Verification process should familiarise themselves with the story of E-Gold
Its a long and extremely interesting story, but the gist of it is that E-Gold was the first digital currency, allowing transfers from person to person. They didn't do any verification for customers and became plagued by theft, fraud and were eventually shutdown by the Government.
The reason Goldmoney is going to such lengths to ensure they are compliant with regulations is so that they can avoid a similar fate. If you provide what they ask your money will be safe, insured and you will be able to use the service as intended in no time at all.
Fail to comply and they do not know if its because you are put off by all the effort or actually creating a fake account so you can launder stolen Bitcoin or empty stolen credit cards (for example).
End of the day, just get it over and done with.