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Gosh, they have statistics! By a man. A man from Goldman! "I was quoted by a man from Goldman's in the mansion house, that in Hong Kong it cost them $70 to onb

Gosh, they have statistics! By a man. A man from Goldman! "I was quoted by a man from Goldman's in the mansion house, that in Hong Kong it cost them $70 to onboard a client. In the UK, it now costs them $10,000 to onboard a client just because of the regulation." Well I'll be darned!

andy_ppp 11mo ago
It’s probably because of bureaucracy at Goldman - know your customer checks are pretty cheap and there’s APIs that can do it.
- blitzar 11mo ago
  "Locals" in HK that do the roles like KYC grunt work make a fraction of their equivalent in London (or their expat boss in HK).