Why Uncovering Beneficial Ownership is a Due Diligence Priority
Do you really know who you are doing business with? Our eBook, “Hidden in Plain Sight: Spotting Signs of Beneficial Ownership,” highlights the growing importance of identifying beneficial owners among clients, suppliers and other third parties your business relies on.
The 2016 Panama Papers leak shined a spotlight on the need to identify the ultimate beneficial owners to mitigate financial crime and corruption, as well as highlighting the difficulties of unraveling complex corporate structures to understand who owns whom.
The revelations from the Panama Papers have:
- Spurred investigations in 82+ countries;
- Identified more than 200,000 offshore entities in 21 tax havens; and
- Implicated heads of state, the global elite and alleged criminals in tax evasion and other corrupt practices.
However, with no single global beneficial ownership register of who the ultimate beneficial owner of a business is, companies have a responsibility to conduct due diligence to find out.
And this isn’t just a concern for the financial sector. Regulators worldwide are ramping up laws to require greater transparency on beneficial ownership—expanding Know Your Customer rules applied to banks to include corporate partnerships and supply chains across many industries.
Download the eBook to learn more about:
- The reality of complex ownership trails
- The importance of transparency in beneficial ownership
- The significance of enhanced due diligence to protect against risk
- Steps for improving due-diligence processes
- Relevant local, regional and global beneficial ownership rules
Fill out the form at the right to access the eBook now.
Interested in learning how Nexis Solutions helps organizations address the rising risk of hidden beneficial owners? Take a closer look at how Nexis Diligence™ enhances visibility into beneficial ownership with access to Dun & Bradstreet® UBO data on hundreds of millions of businesses and commercial entities worldwide.