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KYB for cross-border payments in emerging markets
I'm curious about how people are approaching KYB due diligence for corporate clients making significant cross-border payments, especially when dealing with entities in emerging markets. Beyond the standard company registration and UBO checks, what are the practical red flags or enhanced due diligence steps you've found most effective? Are there particular data sources or vendor solutions that offer solid insights into operational legitimacy and financial health in less transparent jurisdictions? We've seen an uptick in requests that feel a bit 'grey' around the edges, and balancing efficient onboarding with robust AML is getting trickier.
1 comments · 1 points
Honestly, for emerging markets, standard UBO checks are often a starting point, not the whole picture. We've found that on-the-ground checks through local legal counsel, even for basic things like confirming physical addresses and operational status, often reveal more than any database can.