Who is the UBO? – knowing is vital for any deal


Jason Shedden | Chief Operating Officer | Contactable | mail me |

Knowing who the ultimate beneficial owner (UBO) of an entity is before engaging in any type of business deal, is a critical task that is often overlooked.

This is particularly true in today’s increasingly stringent regulatory environment, in which organisations are increasingly expected to understand who they are doing business with to help fight fraud.

Biometric and digital identity proofing is why identifying the UBO is a critical part of the Anti-Money Laundering (AML) and Know Your Customer (KYC) processes.

Historically, verifying UBO details as part of a KYC check has been conducted by compliance teams at financial institutions, but today, as complexity is increasing so such teams are becoming more and more admin intensive which comes at a very real cost.

Know Your Customer (KYC)

UBO has become a compliance task that extends

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