Learning Objectives include:
- To define the Ultimate Beneficiary Owner (UBO) – Understand who is doing business with you.
- The role of financial and non-financial institutions in the process of determining the UBO.
- Spotting UBOs of legal persons and legal arrangements.
- How Legal Persons and Legal Arrangements can be misused to destabilize the financial system
Beneficial ownership identification and verification is an essential component of the ‘Know Your Customer’ on boarding process. Scandals such as the Panama Papers not only highlight the absolute need for robust customer due diligence, but have spurred the regulatory momentum for enhanced ownership disclosure. Peeling back the complex legal structures designed to conceal Ultimate Beneficial Ownership represents a significant challenge to financial and non-financial institutions.
- Ms. Beverley Best, CAMS, Compliance Manager at J&T Bank and Trust Inc.
- Mr. Nigel Pierre, Compliance Architect, Sagicor Financial Corporation
1 ACAMS Credit **Please note that ACAMS credit for this virtual event is available to members of the Chapter only.