Gosh, they have statistics! By a man. A man from Goldman! *"I was quoted by a ma... | Hacker News

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		actionfromafar 3 months ago \| parent \| context \| favorite \| on: Taxing Growth 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 3 months 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 3 months 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).

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