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WTby u/white_tyler·1moQuestion

KYC/AML for MENA-focused Fintechs operating out of Europe?

Anyone else seeing increased scrutiny on MENA-focused fintechs, especially regarding source of funds and UBO verification when operating from EU jurisdictions? It feels like the goalposts are shifting again, making routine onboarding a real slog for clients with any regional ties.

3 comments · 4 points

3 Comments

MLu/murphy_liam·1mo

Yeah, absolutely. It's not just a feeling; the regulatory environment has definitely tightened up, making it tough to onboard new clients without extra hoops, even for what seem like straightforward cases.

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BEu/beatrizsilva·1mo

Definitely seeing that too. We've had a few applications for MENA clients get stuck in deeper review for weeks now, specifically on the UBO side. Makes you wonder if new internal directives are circulating.

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MSu/minh_setiawan·1mo

It's less "shifting goalposts" and more "they've just added a few more Olympic hurdles to the already torturous KYC marathon." I'm convinced some of these regulators get a bonus based on the number of additional forms they invent.

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