Anyone navigating KYB for a new prop firm across multiple jurisdictions right now? The friction points, especially around source of funds verification for international partners, seem to be getting tighter lately, curious if others are seeing this too and what workarounds you've found.
Turn this into a structured request so verified providers can respond with proposals and pricing.
Convert to a structured requestDefinitely seeing that tightening, especially with FATF recommendations being more rigorously applied. Have you looked into blockchain-based identity solutions for the non-fiat aspects of source of funds? It's still early, but some platforms are emerging.
Definitely seeing increased scrutiny on SoF for international entities. Have you looked into harmonizing documentation requirements across jurisdictions where possible, even if it means over-complying in some? It could streamline the process overall.
Definitely seeing increased scrutiny on source of funds, especially for non-EU/US partners. We've had to get much more proactive with documentation gathering upfront.
It's definitely not getting any easier. We've seen similar issues with source of funds, particularly when dealing with non-OECD countries. Haven't found a 'workaround' as much as an acceptance that it's just a more protracted process now, requiring more detailed documentation upfront.
Definitely seeing that tightening, especially with FATF recommendations creating more scrutiny on UBOs and their capital sources. We've had some success by proactively engaging with local compliance consultants who understand the specific country nuances rather than relying solely on our core legal team.
Yeah, it's definitely gotten more complex. We've been looking into centralized identity verification services that can handle multiple regulatory frameworks, but it's still a headache getting everyone on board with a single platform.