Compliance Consultancy
Risk management and Consultancy firm

UBO Register AML


In many nations, it is necessary to identify UBOs (Ultimate Beneficial Owners) to comply with laws and regulations. By promoting openness and accountability, identifying UBOs aids in the prevention of money laundering, terrorist financing, and other illegal actions. By spotting potential conflicts of interest or involvement in unlawful actions, it also assists firms in reducing reputational and financial risks.

What is a UBO register?

meaning of the ubo register 2019
A UBO register is a list or database of a company's or organization's ultimate beneficial owners. As needed by the rules and regulations of many nations, it is a tool used to aid in the identification and verification of UBOs. The UBO registration normally includes details like the UBO's name, birthdate, nationality, home country, and ownership or control stake.

UBO registers will assist in preserving trust in the integrity of business transactions and the financial system by allowing public access to beneficial ownership information, which allows greater scrutiny of information by civil society, the press, or organizations.

The registry is frequently kept up to date by the company owner and is subject to fines if not accurately and timely executed. The authorities might strike the companies from the official publications in case of intentional misuse. In certain cases the consultation is open to the public.

Why must financial institutions verify UBOs?

The main goal of UBO (Ultimate Beneficial Owners) verification in financial institutions is to adhere to anti-money laundering and counter-terrorism financing rules. It also enables organizations to evaluate risks and better comprehend the financial requirements of their clients. Verifying UBOs fosters accountability and openness and can aid in the prevention of fraud, corruption, and other illicit acts.
criminals money laundering ubo register exposure

In Europe, UBO verification through a registry was implemented in the AMLD4 and transposed into national laws of Member States.

How can Pideeco help you with UBO Register AML?

Pideeco’s decade-long experience in the financial sector and compliance can help your company to:

- Advise on accessing the Belgian UBO registry.

- Analyze your current UBO verification process and create a gap analysis along with a mitigating action plan.

- Draft or improve your current policies and procedures concerning UBO verification.

- Verify UBOs on your behalf.

- Perform a lookback on UBOs that are clients of your company.

- Assist you in the escalation process to the government if discrepancies occur.

Let us know how we can help! We'll get back to you lightning quick!

You'd rather talk face to face? Complete the form and schedule a meeting

Was this service page helpful ?  
Monitoring and Reporting - Compliance Consultancy
Monitoring and Reporting

Continuous business monitoring and reporting can save time and resources while improv...

Risk Based Approach - Compliance Consultancy
Risk Based Approach

The Risk-Based Approach (RBA) is a methodology for prioritizing a company'...

Policies and Procedures - Compliance Consultancy
Policies and Procedures

What are policies and procedures?Policies and procedures are the backbone of a compan...

Corporate Governance - Compliance Consultancy
Corporate Governance

Good corporate governance is essential to support business growth. Good governance pr...

Regulatory Watch - Compliance Consultancy
Regulatory Watch

Most financial institutions agree that we live in an ever more complex regulatory lan...

Compliance Action Plan - Compliance Consultancy
Compliance Action Plan

Compliance, with the applicable legal framework, depends on the action plan t...

Learning Management - Compliance Consultancy
Learning Management

The financial crisis of 2008 led the European Union to adopt new rules to inc...

Compliance Risk Assessment - Compliance Consultancy
Compliance Risk Assessment

What is a Compliance Risk Assessment?A Compliance Risk Assessment (CRA) is the identi...

Adverse Media - Compliance Consultancy
Adverse Media

Adverse media, or negative news, screening is an essential process for financial inst...

UBO Register AML - Compliance Consultancy
UBO Register AML

In many nations, it is necessary to identify UBOs (Ultimate Beneficial Owners) to com...

Incident Reporting - Compliance Consultancy
Incident Reporting

No matter the area, accidents are sometimes inevitable. Effective procedures followin...

BMR Benchmark Regulation - Compliance Consultancy
BMR Benchmark Regulation

What is benchmark regulation?Following the Libor (London Inter-bank Offered Rate) sca...

Ethics and Standards - Compliance Consultancy
Ethics and Standards

The integrity of a company is important and can be strengthened by having well-define...

Get in touch with us - Compliance Consultancy
Get in touch !

We'll present you the technology to stop money laundering and terrorist financing

Central Compliance is the organization of all the compliance monitoring and controlling the professional activities of a given business or company thr...

Return to central compliance
Discover Pideeco Compliance Services and Business solutions for your operational business needs
Domain Experts
Stefano Siggia - Pideeco Network Partner
Stefano Siggia
Senior Consultant
Discover
Chloe Cauchois - Pideeco Network Partner
Chloe Cauchois
Junior Consultant
Discover
Luisa Nadege Cafi - Pideeco Network Partner
Luisa Nadege Cafi
Junior Consultant
Discover
Michel Cliquet - Pideeco Network Partner
Michel Cliquet
Senior Consultant
Discover
European Data Protection Authorities Websites [Compiled list]
Oscar Canario da Cunha

The protection of privacy has grown to be of utmost importance in a society where our every action is digitally recorded and where personal information is exchanged like an untraceable currency. European Data Protection Authorities (DPAs) have launched a privacy revolu...

Read more Author What else ?
European Data Protection Authorities Websites [Compiled list] - Pideeco Journal