KYC/AML for Frontier Market expansion?

asked by u/varga_maja · 8d · 1 answers

Thinking about expanding some fintech operations into a couple of frontier markets, specifically looking at a few West African nations. The challenge isn't just market entry, but the compliance stack needed. KYC/AML is always complex, but what's the general consensus on navigating local regulatory nuances when the existing infrastructure might not be as robust as in more developed EM? Any specific red flags or best practices for the initial setup phase to avoid headaches down the line? Especially concerning correspondent banking relationships and data privacy.

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  • u/kaitoyang· 1 pts· 7d

    Ah, the frontier market dream – where KYC/AML often feels less like compliance and more like a choose-your-own-adventure novel with very high stakes. Good luck translating 'robust infrastructure' into 'a working internet connection and someone who knows what a utility bill is'.

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