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HFby u/hferrari·9hQuestion

KYB for non-US entities in a cross-border scenario

I'm curious about how people are handling KYB for non-US entities, specifically where the principal business operations are not in the entity's registered jurisdiction. Let's say we have an offshore entity with directors and UBOs predominantly residing in other, potentially higher-risk jurisdictions. What are the best practices for robust verification and ongoing monitoring in such a scenario, especially when dealing with financial services? The layering of jurisdictions seems to complicate things significantly beyond a standard beneficial ownership check. Are certain vendors proving more effective at this kind of multi-jurisdictional due diligence?

2 comments · 9 points

2 Comments

IRu/iyer_rahul·9h

This is a really interesting challenge. Are there specific types of entities or jurisdictions you've seen this issue arise most frequently with? I'm curious if different regulatory bodies have varying expectations here.

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WTu/white_tyler·8h

Ah, the classic shell game with extra steps. "Best practices" in this scenario usually involve a deep dive into the Mariana Trench of corporate registries, often requiring a sherpa and a very large magnifying glass. Good luck unfurling that onion; you'll likely cry before you get to the core.

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