Tag: UBO Verification

As financial services firms continue to modernise their compliance operations, many are recognising that legacy, manual approaches are no longer suited to today’s escalating...

Know Your Business (KYB) is crucial for verifying a business’s identity and ensuring compliance with UK laws.

KYB, or Know Your Business, is an essential process for businesses engaging with other companies. It serves as the backbone of safe, compliant third-party relationships, enabling firms to assess and manage potential risks before formalizing business agreements.

An UBO refers to an individual who, although not always officially recorded, holds significant control or ownership of a business entity, generally marked by owning 25% or more of the company.