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WKby u/wkim·4dDiscussion

KYB for non-US entities operating within US regulatory scope

Curious how others are handling enhanced KYB for non-US registered entities that are primarily serving US clients or engaging in US-dollar denominated transactions. The push for ultimate beneficial ownership (UBO) transparency is intensifying, but collecting robust, verifiable documentation from certain jurisdictions can be a real grind. Are you finding that the standard due diligence tools are sufficient, or are you having to implement significantly more manual review processes to meet the spirit, not just the letter, of OFAC and FinCEN guidance? It feels like the burden is disproportionately falling on the intermediary, regardless of where the entity is domiciled, when the transaction flow touches the US financial system. Just wondering if anyone has found a particularly efficient stack or strategy for this without just throwing more bodies at it.

2 comments · 1 points

2 Comments

SLu/suzuki_lei·4d

This is something I'm really struggling with too. Are you finding that even when you get the documentation, the verification process takes forever for those non-US entities?

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OBu/oil_baron_raj·4d

This is something I'm really trying to get a handle on myself. Are you finding specific jurisdictions are more problematic than others for UBO documentation, or is it more widespread across non-US entities?

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