Big4 KYC checks

[JustAnotherNomad]

I'm working on a new project where I would like to get some guidance from a Big4 company to make sure it's all compliant.
They want to do some KYC checks before they even talk to me. What is a normal timeframe for that? Is it normal that that takes a long time? I'm not even sure what exactly they are checking.

 

[JohnnyDoe]

I have always found only clowns in the Big4. Better to hire a reputable smaller sized firm.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[JustAnotherNomad]

Tried some smaller firms as well, they just flat out didn't want to take the case.

 

[JohnnyDoe]

JustAnotherNomad said:
Tried some smaller firms as well, they just flat out didn't want to take the case.
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Did you try a law firm? In which country is your project based?

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[jafo]

JohnnyDoe said:
I have always found only clowns in the Big4. Better to hire a reputable smaller sized firm.
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#Bingo! OP is doing a wealth transfer from him to the BIG4...for the bragging rights! 😛

JustAnotherNomad said:
I'm not even sure what exactly they are checking.
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Neither do they! They are just engaged in the "fake it till you make it" mentality!

 

[Sols]

JustAnotherNomad said:
I'm working on a new project where I would like to get some guidance from a Big4 company to make sure it's all compliant.
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Big 4 is almost never worth the money. You can get the same quality advice and assistance for less money and faster.

JustAnotherNomad said:
They want to do some KYC checks before they even talk to me. What is a normal timeframe for that? Is it normal that that takes a long time? I'm not even sure what exactly they are checking.
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Client onboarding usually takes a couple of days. They are looking you up in Refinitiv/Worldcheck and other databases. The delay is usually just because they have a queue of clients to review. However, sometimes it's because they've found something that needs investigation.

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This is the probably the answer to your question.

 

[Marzio]

JustAnotherNomad said:
I'm working on a new project where I would like to get some guidance from a Big4 company to make sure it's all compliant.
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Why do you need Big4 when we are here for you? 😛

 

[JustAnotherNomad]

Sols said:
They are looking you up in Refinitiv/Worldcheck and other databases.
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What kind of information would they contain? Can't imagine I'd be in any database, but they're taking a really long time.

 

[Sols]

JustAnotherNomad said:
What kind of information would they contain? Can't imagine I'd be in any database, but they're taking a really long time.
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Anywhere your name may have appeared in public (news media, social media, public company register, phonebooks, PEP/sanctions lists) and some private databases (semi-public company registers, certain credit lists, semi-public population registers).

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This is the probably the answer to your question.

 

[JustAnotherNomad]

Thank you.

 

[jafo]

Sols said:
They are looking you up in Refinitiv/Worldcheck and other databases.
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I am all for transparency...so...
Can we also have their info to look them up to make sure they are NOT pedophiles or have political affiliations we don't approve of or are engaged in businesses we disapprove of or belong to a religion we dislike?

JustAnotherNomad said:
Thank you.
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Notice you can't and won't be allowed to do the same thing to them. This doesn't strike anyone else as unfair and hypocritical?

 

[Sols]

jafo said:
Can we also have their info to look them up to make sure they are NOT pedophiles or have political affiliations we don't approve of or are engaged in businesses we disapprove of or belong to a religion we dislike?
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Just contact Refinitiv or someone like it and get a quote for using the service.

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This is the probably the answer to your question.

 

[jafo]

Sols said:
Just contact Refinitiv or someone like it and get a quote for using the service.
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That's NOT what I meant.