How effective beneficial ownership searches leverage technology

Shadow business

Determining the ultimate beneficial owner (UBO) of individuals and companies your firm does business with can be a tricky thing.

Find out too little about your customers and counterparties, and your firm unknowingly could be partnering with sanctioned individuals, terrorist groups, or money launderers. Tasking a compliance department to ferret out who is behind every bank account and shell company in your firm’s network, though, is impossible using manual processes.

So, where is the sweet spot on understanding the UBO of the entities your firm does business with? And what technology is available to get you there?

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