Onboarding Friction with Offshore FX/CFD Brokers for PSPs

asked by u/wkim · 9d · 1 answers

Anyone else finding the KYC/KYB for offshore FX/CFD brokers increasingly problematic for payment processing? We've seen a noticeable uptick in rejected applications or significantly prolonged onboarding due to tighter AML scrutiny, especially for entities dealing with Tier-2 or Tier-3 jurisdictions. It's impacting our ability to serve legitimate clients quickly and efficiently. What are others experiencing in terms of document requirements and compliance hurdles when integrating with these platforms?

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  • u/fontaine_marie· 1 pts· 9d

    We've definitely experienced this too, particularly with the enhanced due diligence for jurisdictions with perceived higher risk. It seems the compliance burden has shifted significantly onto PSPs, forcing more internal resource allocation for what used to be a smoother process.

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