Identify UBOs to complete your AML Customer Due Diligence process

When dealing with corporate entities, it is pertinent to identify the Ultimate Beneficial Owner (UBO) to understand the real natural person controlling the entity’s operations. Identifying the beneficial ownership and verifying the identity of the UBOs is integral to the AML Compliance framework, specifically the Customer Due Diligence process, while establishing a business relationship with a legal or juridical person.

Here is an infographic discussing the unfolding of ownership or control structure to determine the true owner of the entity or the UBO.

AML UAE, with its diverse experience, assists the clients in laying down the AML policies and procedures, including the customer onboarding process and identifying beneficial ownership.