At the most fundamental level, financial services firms, and indeed all companies operating internationally, need to have confidence that the third parties that they deal with are who they say they are. This is not, of course, just a question of knowing the legal entity, but rather having a clear sight of the ultimate beneficiary of the service. Failure to follow the trail is not just poor business practice; it exposes individuals and organizations to significant reputational, regulatory, financial and strategic risks.

Read more how you can spot signs of beneficial ownership to navigate an evolving global regulation landscape, while also developing the real-world operational processes to comply with them.