Due diligence tips for multinational firms


Many jurisdictions and regions across the globe have due diligence AML regulations in place. An example would be the UK and EMEA that’s regulated. We also have certain jurisdictions in the Asia Pacific region and across into Latin America and Canada. We have others that are not currently regulated, but are certainly exploring the need to introduce regulations such as the United States and Australia and others.

What you tend to find within multinational firms is that they are based across our series of regulated and non-regulated jurisdictions and therefore, it can be challenging in terms of managing client relationship.

What can be useful is to consider establishing a global standard that sets a certain level of due diligence requirement. Then what often can be done to manage that effectively is that those areas or jurisdictions that are more regulated would have a top-up mechanism in place to be able to gather additional documentation to meet their standards and requirements. And that can really be very efficient in terms of managing the client onboarding process and making for a stronger or cohesive firm as a whole.

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