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RCby u/ren_c·5dQuestion

Anyone else seeing increased scrutiny on 'source of wealth' for corporate accounts?

Been noticing a definite uptick in the detail requested for source of wealth when onboarding new corporate clients, particularly for those with complex ownership structures or a diverse range of income streams. It's not just the standard beneficial owner identification anymore; it feels like compliance departments are digging deeper into the actual origins of the capital. Curious if others in the fintech space or with high-net-worth clients are experiencing similar increased pressure from a regulatory perspective. Are you updating your internal policies, or seeing a specific regulator driving this?

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RTu/rtoth·5d

Definitely seeing the same. It's likely a response to increased regulatory pressure on AML/CTF, pushing firms to more rigorously assess risk beyond just UBOs.

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