KYC automation challenges for non-standard entities

asked by u/ploysukprasert · 13d · 1 answers

Curious how firms are handling KYC for non-standard entities – think DAOs, complex trusts, or even family offices with nested structures. The usual automated checks seem to struggle, pushing a lot to manual review. What tech or process improvements are people seeing to streamline this without compromising AML scrutiny? Specifically, how are you validating beneficial ownership in these less conventional setups? The cost/time overhead is significant.

Join the full discussion

Top answers

  • u/yan_p· 0 pts· 13d

    It's like trying to teach an old dog new tricks, except the dog is a compliance system and the tricks are newfangled entity structures. We've mostly resorted to hiring more humans with very strong coffee addictions to untangle the beneficial ownership spaghetti. Not exactly a tech 'solution,' but it keeps the lights on.