White papers

Beneficial ownership

Navigating the complexities of beneficial ownership compliance

Managing beneficial ownership information for corporate or entity clients can be a daunting task, especially in the constantly changing regulatory environment. Now, it is more critical than ever to stay up-to-date, as new beneficial ownership rules are being implemented globally with the goal of increasing transparency and accountability.

In the United States, the Financial Crimes Investigation Network (FinCEN) has pro posed rules requiring financial institutions to expand their onboarding and Customer Due Diligence procedures to capture information on persons with more than 25% beneficial ownership. In Europe, the Fourth EU Money Laundering Directive requires national laws to establish central registers of beneficial ownership information for corporate and other legal entities. And in the United Kingdom, the Companies Act 2006 (Amendment) Regulations 2016 require companies to maintain a register of people with significant control, including beneficial owners.

Download the white paper to learn more about:

  • Changing rules and regulations surrounding beneficial ownership compliance, including examples from different regions
  • Risks and challenges associated with Know Your Customer (KYC) and beneficial ownership
  • The use of intermediaries and offshore structures in obscuring beneficial ownership information
  • Developing strategies for effectively managing beneficial ownership information in a fluid regulatory environment.

“A unified risk, fraud and compliance management platform, underpinned by risk analytics, can help FIs achieve beneficial ownership compliance and combat a range of financial crime threats around the world, in a manner which is demonstrably effective and efficient.”