KYB for Multi-Jurisdictional Entities - A Pandora's Box?
asked by u/risk_first_nadia · 1mo · 3 answers
We're onboarding a new client, a holding company with subsidiaries spanning three different regulatory frameworks across APAC. Each jurisdiction has its own flavor of 'enhanced due diligence' and ownership disclosure requirements. It's like a hydra, you cut off one head of paperwork and two more spring up. Is anyone else finding that the drive for transparency, while necessary, is creating a near-insurmountable KYB hurdle for genuinely complex, but legitimate, corporate structures? The amount of back-and-forth for UBO identification alone is enough to make a seasoned compliance officer consider early retirement. Tips, commiserations, or preferred vendors for untangling these Gordian knots welcome.