Why choose us?
Limit financial manipulation and prevent operational losses and penalties.
Prevent unintended association with money launderers and financial criminals.
Comply with regulators’ KYC & AML/CFT guidelines.
Business Screening Features
Utilise uqudo’s large database of UBOs from 350,000+ data sources to identify beneficial owners and calculate their risk values.
Identified beneficial owners are then screened against
- Sanction lists that include international and regional sanctioned individuals.
- PEP lists, to identify if a UBO is a prominent political leader, or is associated with one, to evaluate their risk profile.
- Adverse media lists to uncover potential involvement in criminal activities.
Continuously evaluate UBOs and their transactional behaviour, while complying with due diligence and reporting regulations, to fight financial crime and corruption.
Latest KYB updates
What is KYB? Why is it necessary for your business?
KYC Content Specialist uqudo
An award-winning team
uqudo is proud to be recognised by some of the world’s most distinguished organisations.
What is KYB?
Know Your Business (KYB) refers to the controls that a company must implement to ensure its clients are not engaged in criminal activity. It is the process of due diligence that should be undertaken before dealing with any organisation.
What is the difference between KYC and KYB?
KYC (Know Your Customer) refers to verifying the identity of an individual, whereas KYB (Know Your Business) analyses and verifies the identity of companies.
Why is KYB necessary?
KYB helps companies obtain essential information about their potential clients, in order to protect their interests while dealing with other businesses. It also ensures that organisations are not indirectly associated with fraudulent activities.
The main advantages of a comprehensive KYB Screening procedure are:
- Helps evaluate the business authenticities of companies, and identify changes in transactional behavior, which sometimes indicate fraud.
- Identifies the Ultimate Beneficial Owner (UBO) and evaluates their risk profiles.
- Screening key stakeholders prevents the occurrence of financial fraud and makes companies trustworthy.
Who are UBOs?
A UBO (Ultimate Beneficial Owner) is the ultimate business owner of an organisation. A UBO can be classified as someone
- who owns more than 25% of the company’s shares.
- who controls more than 25% of the voting rights.
- who is a beneficiary of at least 25% of the organisation’s capital.
- who is a shareholder, including those with bearer shares that can be transferred anonymously.
Can uqudo verify KYB documents in languages other than English?
Yes, uqudo’s KYB coverage includes more than 98 languages, including Arabic, English, Afrikaans and many more.
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