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UBO

 

Ultimate Beneficial Owner (UBO) refers to the natural person who ultimately owns, controls, or benefits from a legal entity, such as a company or trust. Identifying the UBO is essential for anti-money laundering (AML) and Know Your Customer (KYC) compliance, as it helps uncover the individuals with significant influence or ownership in an organization.

Financial institutions and regulatory authorities require disclosure of UBO information to prevent illicit financial activities, enhance transparency, and assess potential risks associated with a business entity.

Understanding the UBO provides insights into the actual individuals with decision-making authority and financial interests, contributing to the efforts to combat fraud, money laundering, and other financial crimes.

 

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