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Understanding the latest thinking on beneficial ownership, power and control

The compliance landscape has been shaken up over the past 10 years by a landslide of data. Technology has uncovered the interconnectedness of the business ecosystem, raising regulatory expectations. The onus has shifted onto companies themselves to discover any criminal connections in their third-party network.

To avoid unexpected fines and protect your company’s reputation, you’ll need to be certain you can trust your business partners. But when it comes to third-party relationships, do you really know who you’re doing business with?

Now, more than ever, you need to understand exactly who controls your suppliers and business partners, who your clients are, and whether any changes could lead to non-compliance. That’s why identifying beneficial owners, and who has power and control over your partners, is a crucial part of managing compliance risk.

Pinpointing beneficial ownership should be an integral part of your company’s anti-money laundering (AML), know your customer (KYC), enhanced due diligence (EDD) and compliance strategy.

This white paper covers:

  • What beneficial ownership is and how it can differ from ‘control’
  • What we can learn about recent regulation and enforcement to inform due diligence
  • How company ownership data can help you protect your company

Download this paper to discover what’s hidden behind third-party company data, who influences your partners’ decisions and why data puts you in control when it comes to managing third party risk.