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

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

White Paper Published By: Fiserv
Fiserv
Published:  Sep 14, 2017
Type:  White Paper
Length:  6 pages

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, financial action task force, fincen, financial crimes enforcement network, eu aml directive

We use technologies such as cookies to understand how you use our site and to provide a better user experience. This includes personalizing content, using analytics and improving site operations. We may share your information about your use of our site with third parties in accordance with our Privacy Policy. You can change your cookie settings as described here at any time, but parts of our site may not function correctly without them. By continuing to use our site, you agree that we can save cookies on your device, unless you have disabled cookies.
I Accept