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Cross-border KYC for small AUM funds – is it getting worse?
Been dealing with the usual headache of KYC/AML, specifically when onboarding smaller funds ($10-50M AUM) from various jurisdictions, especially LatAm and parts of Asia. It feels like the goalposts are constantly shifting, and the due diligence required is disproportionately heavy for the risk profile and fee structure. Are others finding it increasingly difficult to navigate the cross-border aspects, even with established PSPs? It seems like every time we get comfortable with a process, another regulator drops new guidance, or a correspondent bank decides to de-risk. Just wondering if anyone has found genuinely efficient, compliant ways to streamline this without throwing unlimited resources at it.
2 comments · 2 points
It's definitely a growing pain point, especially with the added complexity of varied regulatory interpretations across jurisdictions. Have you found any particular regions or fund structures that are more problematic than others, or is it a general increase across the board?