KYB for non-traditional business models - anyone seeing patterns?
Been pondering the challenges around KYB for businesses that don't fit the neat 'traditional corporation' mold. We're seeing an increasing number of clients operating with distributed teams, multiple legal entities across jurisdictions, or even highly fluid structures like DAOs that have real-world assets or interfaces. The standard documentation requests often don't quite fit, and trying to establish ultimate beneficial ownership (UBO) can become a real labyrinth.
Are others encountering similar headaches? What strategies or tools are proving effective for onboarding these more complex or non-traditional business models while maintaining robust AML/CFT compliance? Specifically interested in how firms are managing risk profiles for entities with, say, legal registrations in one country but operational hubs and key decision-makers spread across several others. It feels like the regulatory frameworks are playing catch-up, and finding consistent best practices is tough.