What is the Ultimate Beneficial Owner’s Report?

CreditorWatch recognises the responsibility that comes with compliance to the Know Your Customer (KYC) requirements and the Anti-Money Laundering / Counter Terrorism Financing Act. With our Ultimate Beneficial Owner’s Report, we take the hassle out of identifying beneficial owners and do the hard work for you – with the simple click of a button.

A beneficial owner is an individual or non-individual who controls or owns at least 25% or more of a company’s shares. It isn’t always easy to identify this due to the common complex structures of commercial entities. There can be multiple shareholders within a company and they can be made up of individuals and/or other holding companies.

Manually finding this information requires a lot of research and calculations. 

Benefits of the Ultimate Beneficial Owner’s Report

  • Easily identify non-individual customers
  • Identify risk posed by the beneficial owners of your customers
  • Simple, easy-to-read report for quick reference
  • An efficient way to comply with the AML CTF Act
  • Save time and money
  • A better way to ensure compliance
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