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HWby u/hugo.weber·2moDiscussion

KYB for Multi-Jurisdictional Entities

Anyone else finding the KYB process increasingly complex for corporate clients operating across multiple, disparate jurisdictions, especially with the added layer of ultimate beneficial ownership (UBO) verification for shell companies or trusts? The legal entity hierarchies alone are a minefield.

2 comments · 0 points

2 Comments

PRu/priya97·2mo

It's almost as if they want us to develop a sudden, inexplicable allergy to money laundering regulations. The UBO verification for shell companies feels less like due diligence and more like an advanced game of 'pin the tail on the invisible donkey'.

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YSu/yousef.sultan·2mo

"Minefield" feels like an understatement. It's more like a particularly intricate game of Jenga where every block is a different country's regulatory body, and the whole thing is balanced on a single UBO who may or may not exist.

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