in the spotlight

identifying beneficial owners

the importance of understanding corporate ownership structures in AML and KYC compliance

Knowing the people behind your corporate customers is a critical element of a robust Know Your Customer compliance programme. However, as regulatory requirements for the identification and verification of Ultimate Beneficial Owners (UBOs) have become more stringent this has become a time-consuming and costly exercise.

Gathering and analysing the information needed to understand corporate ownership structure and discover UBOs takes anything from several hours to days. As a highly manual process, it’s also prone to human error, leaving firms exposed to unknown risks and criminal activity such as money laundering, corruption and bribery.

The following resources provide some background on UBO regulation, common challenges and solutions to streamline and enhance your UBO discovery process.

webinar

identifying and verifying corporate hierarchies and ultimate beneficial ownership

In this 30 minute webinar regulatory compliance operations consultants Jon Wilson and Yasmeen Jaffer (JJC Fintech) explore the big questions around beneficial ownership and how your business can adapt without lengthening the client onboarding process.

blog

understanding corporate ownership structure and identifying ultimate beneficial owners

An important change with 4MLD was the enhanced requirements to identify and verify Ultimate Beneficial Owner(s), but this can be a time-consuming, highly manual task. Learn how encompass does this for you in minutes.

blog

understanding corporate ownership structure and identifying ultimate beneficial owners

An important change with 4MLD was the enhanced requirements to identify and verify Ultimate Beneficial Owner(s), but this can be a time-consuming, highly manual task. Learn how encompass does this for you in minutes.

ebook

ultimate beneficial ownership

In our new ebook, encompass co-founder and CEO, Wayne Johnson, explores the drivers behind increasingly stringent regulations to identify and verify ultimate beneficial owners (UBOs).

discover what encompass can do for you

Ready to learn how encompass can accelerate your client onboarding and compliance checks?

Fill out the form to request your personalised consultation on how encompass can help your business.

Alternatively you can contact our team directly on 0333 772 0002.

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