UBO Service

Streamline your compliance process and reduce your regulatory risk with UBO Service.

[UBO Service @UBOService]

Policymakers are struggling to accommodate #cryptocurrencies within tax systems not designed to handle them. The #IMF finds existing #AML policies don’t go far enough to stop tax evasion in the fast-growing world of #crypto. https://t.co/owF3f5PQPf

[UBO Service @UBOService]

The #FCA is to introduce tough new rules for the marketing of #cryptoassets designed to ensure buyers understand the risks. They will include a 24-hour cooling off period for first-time buyers and clear #risk warnings must be shown. Read More: https://t.co/pwRETiCluc

[UBO Service @UBOService]

According to a Transparency International UK study, only a small % of companies fully disclosed their anti-corruption policies in a timely manner. This underscores the need for stricter regulations & increased #accountability to ensure #transparency. https://t.co/ut4swh2GWl

[UBO Service @UBOService]

Despite being under #sanctions by the UK since June 2022, Volodymyr Saldo, one of Putin's senior officials in Russian-occupied Ukraine has managed to establish a #UK company in his name. The company was registered 5 months after the sanctions were imposed https://t.co/07HUSRmko1

[UBO Service @UBOService]

Transform your #compliance process and accelerate customer #onboarding with our automated #API. Seamlessly integrate our API into your current system so you can verify #beneficialowners, shareholders, and directors instantly. Learn More: https://t.co/KtmqTeSfH3

[UBO Service @UBOService]

A new study finds the UK's #legal & #accounting sectors are still weak in their ability to detect and prevent #moneylaundering. It identifies key weaknesses in risk perception, training, #customerduediligence, (#CDD) and suspicious transaction reporting. https://t.co/Wdyj7bTqO3

[UBO Service @UBOService]

The #FCA has published a series of measures aimed reducing the risk of #moneylaundering through post offices after investigations by UK police found hundreds of millions are laundered each year through the cash deposit channel at the #PostOffice. https://t.co/OCfcPaiFQg

[UBO Service @UBOService]

The #UK Treasury is consulting on whether regulation for providers of Environmental, Social and Governance (#ESG) ratings should be introduced, and the potential scope of a regulatory regime. The consultation opened on 30 March and will close on 30 June. https://t.co/wcgNWhZKRk

[UBO Service @UBOService]

Integrating UBO Service’s #API empowers your systems to create legal reports to identify and verify #beneficialownership. Explore our solution by downloading our API documentation or requesting a testing environment. https://t.co/9FtqwT2RVq

[UBO Service @UBOService]

The #EconomicCrimeLevy (#ECL) will be collected from 2023-2024. The HMRC has published a policy paper entitled ‘Get ready for the Economic Crime Levy’ which provides information about the steps which are necessary to pay the levy. Read more: https://t.co/cATjaOSl7z

[UBO Service @UBOService]

An Italian national wanted for his role in a €440 million embezzlement #fraud is to be extradited from Colombia. According to reports proceeds of crime were laundered through #cryptocurrencies, gold bars and current accounts in Malta, Cyprus and Madeira. https://t.co/VfyCxcSzHh

[UBO Service @UBOService]

Real Estate, lettings agents, and solicitors implement #risk mitigation strategies to ensure they are #compliant with #AML regulations. The use of technology to detect suspicious activity is key for property professionals to combat #financialcrime. https://t.co/2uj19bH5ul

[UBO Service @UBOService]

The UK’s new Anti-Money Laundering (#AML) rules which require #RealEstate Agents to register with HM Revenue and Customs, as well as more rigorous #duediligence on buyers and sellers have increased #transparency and accountability in the sector. https://t.co/u1vZFw2IRd

[UBO Service @UBOService]

EU Commission exploring whether technology solutions used by #banks, #fintech, and the public sector in the EU should be regulated. While #technological solutions are proving effective, there are concerns arising over the use of #AI in #AML #compliance. https://t.co/2JJ5gYiKxy

[UBO Service @UBOService]

#FATF Plenary outcomes have been published. It has made it a priority to improve the #transparency of #beneficialownership by requiring countries to ensure access to adequate, accurate, and up-to-date information on the true owners of companies. https://t.co/jhmZatH4Ey

[UBO Service @UBOService]

A recent survey of Compliance Officers shows 64% would not solely rely on the CPI to assess #corruption #risks in their #compliance programs. This highlights a growing concern about the limitations of the CPI as a measure of corruption. https://t.co/xurMtzZc0m

[UBO Service @UBOService]

Simplify the complex process of finding accurate #BeneficialOwnership data with UBO Service. We provide powerful workflows to integrate into your #KYC & #AML processes. Allowing you to #onboard your customers in a matter of clicks. https://t.co/AhLR62L7ku

[UBO Service @UBOService]

Corporate #transparency was set back when the #CJEU invalidated the #AML provision guaranteeing public access to information on companies' #beneficialowners. This video explains why public access to this data is so critical, and what needs to happen next. https://t.co/KkqoZaiho6

[UBO Service @UBOService]

European AML experts meet in Brussels to discuss Common #PEP Register. This register of PEPs comes under one of the deliverables under the current #AML/#CFT framework and Action Plan. There will also be a follow-up to the #EU pilot on #BeneficialOwnership. https://t.co/5VNbSHtg8b

[UBO Service @UBOService]

The Wolfsberg Group has updated it's Correspondent Banking Due Diligence Questionnaire. The update promotes effective #risk management, advocating #FI's to adopt a #RBA to defining their policies and procedures & undertaking appropriate #duediligence. https://t.co/9uu6FEvKrc