Issue 474 (Week ending 15/09/2021)

Looking To Identify UBOs?

In Ireland, persons who hold 25% of an entity are defined as beneficial owners. Banks, financial institutions and other obliged entities are now required to identify these individuals holding over 25% of the shares of any company they deal with, in order to comply with AMLD regulations.

Sourcing and identifying the UBOs of a company can prove to be a very technical, time consuming and expensive task, which needlessly utilises your resources. CRIFVision-net is here to help, with our enhanced AML/KYC suite of solutions. We can help your business to uncover the complex structures and multi-layer ownerships enabling you to identify the real individuals behind the companies you deal with.

Through your CRIFVision-net account you can easily identify the Beneficial Owners of any company in seconds, saving you not only valuable time but also cost. We have built one of the most extensive registers available on company ownership in Ireland, UK and beyond.

Our exclusive KYC reports are an enhancement of the Shareholder report, which uncovers the individuals who benefit from the revenue a company generates. Our standard shareholder report which focuses on the immediate shareholders of a company, whereas our KYC report will investigate beyond this level and identify each company and/ or person who is a shareholder all Beneficial Owner is found.

In addition, we can manage your batch investigations on your entire customer base. This means substantial cost and time savings can be achieved by avoiding the need to manually identify the beneficial owner information on each individual client. This low cost solution uses our matching technology to pair your customer records with their official legal entity. Once this stage is complete it then appends a CRO number to your customer records and drills through each company until the ultimate beneficial owner is discovered within its Irish and UK operations. You give us the file and we return it enriched with the latest data on the entities. We have managed a large volume of projects of this nature and our team are very experienced to handle your requirements.

For more information on our UBO solutions Tel: 01 903 2660 or Email: Helpdesk@vision-net.ie