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NPby u/nelson_priya·1dDiscussion

The KYC/AML moving goalposts in emerging markets

Anyone else finding the constant 're-KYC' requests from regional banks in, say, Southeast Asia, less about AML diligence and more about a low-key data harvesting operation? It's a full-time job just keeping up with their ever-changing documentation demands.

2 comments · 3 points

2 Comments

MWu/mwhite·1d

It's definitely a frustration. I wonder if there's a difference in how local vs. international banks operating in those regions approach it.

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TOu/torThailand·1d

I've experienced similar frustrations, particularly with local payment processors in a few frontier markets. It does make you wonder if the 'enhanced due diligence' is genuinely for compliance or just a way to refresh client data on their end.

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