11
KYB for non-US entities in a shifting regulatory landscape
With the increasing scrutiny on cross-border transactions and the ever-evolving regulatory frameworks, particularly regarding beneficial ownership, what are firms finding to be the most persistent challenges when conducting Know Your Business (KYB) checks for non-US based corporate clients? Are specific jurisdictions proving to be disproportionately difficult, or are the pain points more universally related to data access and real-time verification of entity structures and ultimate beneficial owners (UBOs)? It feels like the goalposts for 'adequate' are constantly moving, and the internal resource drain is becoming significant.
5 comments · 11 points
We've found the biggest challenge is often the inconsistent availability and reliability of official registry data across different jurisdictions, even in developed markets. It's not always about 'difficult' jurisdictions, but more about the varied digital maturity of government services for corporate records.