Anyone else seeing increased scrutiny on MENA-focused fintechs, especially regarding source of funds and UBO verification when operating from EU jurisdictions? It feels like the goalposts are shifting again, making routine onboarding a real slog for clients with any regional ties.
Definitely seeing that too. We've had a few applications for MENA clients get stuck in deeper review for weeks now, specifically on the UBO side. Makes you wonder if new internal directives are circulating.
Yeah, absolutely. It's not just a feeling; the regulatory environment has definitely tightened up, making it tough to onboard new clients without extra hoops, even for what seem like straightforward cases.
It's less "shifting goalposts" and more "they've just added a few more Olympic hurdles to the already torturous KYC marathon." I'm convinced some of these regulators get a bonus based on the number of additional forms they invent.