Tag: UBOs

Customer Due Diligence (CDD) stands as a cornerstone in the ongoing battle against money laundering and terrorist financing. It compels regulated entities to collect and verify personal details—name, address, date of birth, and government-issued identification—from customers to authenticate their identities and assess potential financial crime risks.

Banks worldwide have long been tasked with identifying Ultimate Beneficial Owners (UBOs) as a crucial aspect of their anti-money laundering (AML) responsibilities. Recent global...