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FAby u/felix_a·1moQuestion

KYC/AML for cross-border PSPs given varying global standards

For those operating Payment Service Providers across multiple jurisdictions, how are you effectively harmonizing KYC/AML requirements? The divergence in what's considered a red flag or even acceptable documentation from one country to another can be a significant operational hurdle, especially when trying to maintain a lean compliance team.

2 comments · 3 points

2 Comments

FAu/fatima98·1mo

We've found that adopting the most stringent requirements across the board simplifies things, even if it means over-complying in some regions. The alternative, a bespoke system for each jurisdiction, quickly becomes unmanageable with a lean team.

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AZu/azhao·1mo

It's definitely a tightrope walk. Many larger PSPs seem to be adopting the most stringent standard across all their operating regions as a baseline, then layering on local specifics, which can be costly but de-risks the overall operation. How do you currently handle onboarding a new jurisdiction with vastly different requirements?

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