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Lifting the Veil Ė Why Understanding Beneficial Ownership Is Now Essential for AML Compliance

By: Fiserv
Fiserv

Global anti-money laundering (AML) standards have long required that understanding beneficial ownership be a part of a financial
institutionís AML program. Beneficial ownership outlines the identity of individuals with a controlling interest in a privately held company, enabling a financial institution to understand the ultimate beneficiary of a financial transaction. Identifying beneficial ownership can be a complex process, but itís one that institutions must conquer if they are to remain in compliance with industry rules and legislation.

Tags : anti-money laundering, aml, aml software, anti-money laundering software, beneficial ownership, risk management, aml requirements, complex ownership structures
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Published:  Sep 14, 2017
Length:  6
Type:  White Paper