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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[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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[jafo]

#Bingo! OP is doing a wealth transfer from‍ him to the BIG4...for the bragging rights! 😛

Neither do they! They are just engaged in the⁤ "fake it till you make it" mentality!

 

[Sols]

Big 4 is almost never worth the money. You can get the same quality advice and‍ assistance for less money and faster.

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 have︀ a queue of clients to review. However, sometimes it's because they've found something that needs︁ investigation.

 

[Marzio]

Why do you need Big4 when we are here for you? 😛

 

[JustAnotherNomad]

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]

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).

 

[JustAnotherNomad]

Thank you.

 

[jafo]

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?⁤

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]

Just contact Refinitiv or someone like it and get a quote for using the service.⁤

 

[jafo]

That's NOT what I meant.