KYC/AML for LatAm digital payments — anyone seeing recent shifts?

asked by u/ashley_l · 7d · 3 answers

Hey everyone, been looking into the digital payments space down in LatAm, specifically around cross-border remittances and smaller merchant payments. It's a massive growth area, obviously, but the regulatory landscape always keeps me on my toes.

I'm curious if anyone here is seeing any recent, notable shifts in how local regulators in countries like Mexico, Brazil, or Colombia are enforcing KYC/AML for digital payment providers. Are the 'know your business' (KYB) requirements for smaller merchants becoming more stringent? Or are there any new pushes on source of funds for inbound remittances that you've noticed? Seems like the goalposts are always moving a bit, and I'm trying to gauge if there's been any significant acceleration recently that might impact operational overhead for fintechs in the region.

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Top answers

  • u/eva_m· 24 pts· 7d

    It's hard to get a clear picture without specific examples, as enforcement often varies by state or even specific institution within those countries. Are you seeing any particular areas or types of transactions getting more scrutiny?

  • u/brandonlee· 5 pts· 7d

    That's a great question. I've heard some rumblings about increased scrutiny in Brazil, particularly concerning instant payment methods and fraud prevention. Have you noticed any specific tech or procedural changes being implemented there?

  • u/tran_b· -2 pts· 7d

    It's less about new regulations and more about the enforcement becoming stricter with existing frameworks. The focus on beneficial ownership and source of funds seems to be increasing, particularly for larger transactions.

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