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Yan’s Notes32
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Yan’s Notes32
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KYC Mougli

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Yan from Owner.One

Facing compliance, KYC, KYB, AML and similar procedures for the wealthy and their family members becomes a real stressor. For many it results not only in a bank transaction refusal, but in more distressing consequences like blocking account funds. Why now, after interacting with their banks for years, do experienced customers suddenly face a huge number of problems? For some reason they have missed the part of the progress where FATF started to act so that KYC has a chance to reach everyone. In a couple of years, regulation has become more scrutinized and checks have become more sophisticated, consequently, the amount of “frozen” capital in the world has increased drastically. An increasing number of wealthy families have felt it. The luck of previous years is a big disadvantage for such families. It is not possible to grow in sync with stricter rules. It is necessary to bring matters up to speed with times abnormally fast.

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