On-demand webinar: The Challenge of Beneficial Ownership
Complete the form to hear Transparency International and Refinitiv discuss:
The misuse of legal entities for money laundering is one of the preeminent policy problems in the fight against financial and economic crime. Criminals and professional money launderers often use complex chains of legal structures, including shelf and shell companies, to create laundering engines spanning multiple jurisdictions that turn vast quantities of dirty money seemingly clean. It is for this reason that the Financial Action Task-force and regulators worldwide require financial institutions and other obliged institutions to identify, verify and screen ultimate beneficial owners. By seeing through legal entities to the individuals who ultimately stand to benefit from them, obliged firms can do the due diligence necessary to help prevent money laundering and fight financial crime.
In this on-demand webinar, we will discuss the challenge of beneficial ownership, both at the macro-policy level, and at the micro-practical level. At the policy level, we will survey the state of beneficial ownership transparency, and what initiatives are under way to improve it, as well as the role trust and company service providers need to play. At the practical level, we will in particular cover the new partnership between Refinitiv and Dun & Bradstreet to provide an integrated UBO identification and screening solution we call UBO Check. We will also cover how Enhanced Due Diligence is a vital component of any compliance program, including in extending the reach of UBO data available and in fully understanding the risk posed by some UBOs.
Brought to you in collaboration with the International Compliance Association (ICA).
- The policy challenge: the misuse of legal entities and how the lack of beneficial ownership transparency enables money laundering, corruption and terrorist financing
- What Beneficial Ownership means, why identifying UBOs is important and how it interacts with screening across sanctions compliance, PEP identification and adverse media
- Dun & Bradstreet’s UBO data: background and how the data is collected and aggregated
- World-Check One: UBO Check – demonstrating the power of combining leading UBO data with the leading risk intelligence database
- Uncovering and verifying UBO data when aggregators like Dun & Bradstreet don’t have coverage
- Doing enhanced due diligence on high risk UBOs: best practices