Quickly identify the Ultimate Beneficial Owner to comply with laws and regulations.
Many companies have an identification obligation under the Anti-Money Laundering Act or the Anti-Money Laundering Directive (AMLD). It means that they must first find out the Ultimate Beneficial Owner (UBO or ultimate beneficiary) in order to comply with the applicable laws and regulations. After all, you never want your business relations to be involved in matters such as fraud or money laundering.
More about UBOs
You can read everything you need to know about UBOs on our wiki page. What is a UBO? What was the reason for the UBO regulations? Is your company obliged to find out the UBO of business relations? How do you approach this? And much more.
Organisations that fall under the anti-money laundering legislation are obliged to find out the UBO or the ultimate beneficiary. You need to know who is pulling the strings. Not only when you enter into new relationships, but also during the relationship and in specific transactions. However, corporate and shareholder structures are often complex and that can make it difficult to trace the UBOs.
Unless you use the UBO Check for this on the Graydon Insights platform. One press of a button is enough to identify all the UBOs of an organisation. You always get a result that you can use for your audit trail and other evidence. In addition, each step is stored in a highly secure online archive.
You can automate both the UBO check and your entire Know Your Customer (KYC) process, so that you no longer have to perform actions manually. That way, you will always comply with money laundering laws and avoid fines and reputation damage.
Graydon Stakeholder Search
Small to medium-sized companies have on average one to three business leaders on their management boards. Due to their limited number, these individuals have a huge impact on a company’s performance. If business leaders aren’t performing well, a business can quickly go downhill. However, the reverse also applies. A successful entrepreneur can give a company new momentum.
Graydon Stakeholder Search is designed to support financial professionals and is an indispensable addition to your usual credit report. Do you want to know which organisation(s) a business relation is (or has been) active with, without requesting an extensive business analysis? Then start with a Stakeholder Report.