UBO- Beneficial Owner vs. Control Person

Do you really know who is in control?

Introduction

In today’s business landscape, analyzing corporate structures and identifying the natural persons who ultimately own or manage a company can be a complex and time-consuming process. Supervised businesses must comply with ever-growing regulations and protect themselves from being involved in criminal activities.

To prevent your business from becoming a channel for money laundering, it is essential to thoroughly analyze every detail of the company and the ultimate beneficial owners. This includes understanding UBO regulations and why they are necessary in today’s context.

During the course you will learn

What is an Ultimate Beneficial Owner (UBO)?
Who is considered an Ultimate Beneficial Owner?
How to identify Ultimate Beneficial Owners
How to establish Ultimate Beneficial Owners?
Applicable legislation and regulations (legal requirements 2021/CBA Handbook)
Key terms in the Beneficial Ownership definition:
Verifying the beneficial owner
Understanding ownership and control structure of the customer
Dealing with non-beneficial owner who holds the shares or interest in that legal person on behalf of another (nominee shareholder)

Determine whether customers or beneficial owners or control person are PEPs
What type of information should be included in an EDD?
Corporate vehicles and their potential for misuse
(Ongoing) Customer Due Diligence, keeping updated records of a Beneficial Owner or Control Person
Changes in Beneficial Ownership or Control Person (the company issued more shares, shares are bought from another shareholder, change in ownership, appointing new CEO, CFO etc.)
Dealing with adverse media (negative news) when a Beneficial Owner or Control Person is involved
Creating your own checklist for Beneficial Ownership

Target group

Money Laundering Compliance Officer / Money Laundering Reporting Officer
Compliance department personnel
Internal Auditors
Risk Management
Review Team and other relevant staff involved with this topic

Benefits

The lack of publicly available UBO registry data remains a loophole in the entire AML effort. This course is intended to help participants understand the requirements related to beneficial ownership and control person. It also aims to ensure that participants gain the skills necessary to assess beneficial ownership in relation to companies, trusts and other legal vehicles.

Duration of the training

4 hours

Time

8:30 AM – 12:30 PM

Date

Details will be announced soon. If you’re interested in participating, register now to secure your spot!

Price

Afl. 525, = p.p.
Costs include refreshments, training sheets
and certificate of attendance.

In-house Training

Please contact us to arrange your
in-house face-to-face training.

Online Registration

Compliance Forensic Services Caribbean