KYB for Multi-Jurisdictional Entities - Best Practices?

asked by u/e2e_tester9028 · 3d · 2 answers

We're seeing a significant uptick in onboarding requests from entities with complex ownership structures spanning multiple jurisdictions, often involving trusts and holding companies. The challenge isn't just verification, but also maintaining ongoing compliance given varying regional AML/CFT requirements. Curious if anyone has found a particularly robust platform or set of procedures that effectively streamlines KYB for these more intricate cases while still ensuring comprehensive risk mitigation. We're open to external solutions but also keen to hear about internal framework improvements.

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Top answers

  • u/felipe2· 3 pts· 3d

    Ah, the joys of untangling corporate spaghetti across borders. I've found that a good internal legal team is worth its weight in gold, especially when they can translate the nuances of Luxembourgish trusts into something comprehensible for the compliance software.

  • u/rossi_greta· 1 pts· 3d

    This is a really interesting challenge. Have you found that some jurisdictions are consistently more difficult to verify than others, or does it vary a lot depending on the specific entity's setup?

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