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5 Minute Briefing: Progress and current status of EU UBO Registers
Neil Isherwood explores the progress, changes and current statues of ultimate beneficial ownership (UBO) registers across the EU, as mandated by the 4th
and 5th Anti-Money Laundering Directives
UBO 2.0 – Data and tech for the future of beneficial ownership
Determining the ultimate beneficial owners (UBO) of individuals and companies your firm does business with has traditionally been complex, but it’s
important to ensure you aren’t partnering with sanctioned individuals, terrorist groups, or money launderers. Finding out who is behind every company in
your network requires complex data, often located in a myriad of sources – and information often differs slightly between those sources. Furthermore, ther…
Increasing efficiency and improving accuracy in the due diligence process
With a backdrop of evolving regulations, increasing fines and a complex macro environment, there is an increased pressure on firms to understand a wider
view of who they are doing business with. Comprehensive due diligence goes beyond the initial onboarding, into ongoing monitoring for change. Institutions
continue to struggle to balance their compliance requirements – which can be cumbersome and a huge drain on resources - against cost and efficiency pre…
5 minute briefing: EU Court of Justice Ruling on Beneficial Ownership Registers
Beneficial ownership registers were introduced across Europe as part of the 4th Anti-Money Laundering Directive. Since then, the 5th Anti-Money Laundering
Directive made it mandatory for these registers to be publicly available. However, the European Court of Justice ruled at the end of 2022 that the benefit of
public access is not proven and in fact interferes with the private lives of those on the registers. Watch this short briefing to discover the background to the …
Why perpetual KYC and quality data are good for compliance
Perpetual KYC (P-KYC) is by no means a new phenomenon. Its popularity has risen in recent years in line with the need for firms to improve efficiency and
reduce risk across their due diligence and Know Your Customer (KYC) processes. Regulations have been encouraging firms to move down this path,
including wording on scrutinising transactions, conducting ongoing due diligence and reviewing existing records throughout the course of the relationship wi…
Beneficial Ownership – Is Europe connecting the dots?
Understanding Ultimate Beneficial Owners (UBOs) is a fundamental regulatory requirement in EU Money Laundering Directives. To support this drive, the EU
Commission has been tasked to connect the various UBO registers at EU level by 10th March, 2021, to provide a consistent and transparent pool of
information on UBOs across the region. However, as with all of the EU Money Laundering Directives, each member state has, or will, implement directives i…
Beneficial Ownership - Why the Devil is in the Detail
Do you really know your customers, your vendors, and your third parties? Melaine Campbell, Dun & Bradstreet's Managing Director explains why it's
important as ever to know who you are really doing business with. Beneficial Ownership and Ultimate Beneficial Ownership (UBO) identification and
verification are critical requirements for combating everything from financial crime, tax evasion and corruption, fraud and money laundering, to trafficking …