Easily Find UBOs

Do you know who you’re really doing business with? It has never been more important to know who the ultimate beneficial owners of your clients and business partners are, whether you are managing your credit risk or complying with UK AML regulations. 

Those who don’t, not only risk bad debt but could also risk not being compliant and picking up hefty fines.

Red Flag Alert has revolutionised how UBO data is delivered. Making it quick and easy to understand who you will be working with without slowing down your process. 

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Worldwide coverage for complete protection

Money launderers and bad actors can easily create complex international corporate structures to hide ownership and rely on traditional methods of identifying UBOs being slow, difficult and inaccurate, even with the help of technology. 

Red Flag Alert has changed that, with full global coverage our platform easily untangles any corporate web and presents it to you in a simple and clear way. Allowing you to do better, safer and compliant business. 

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Data on Every UK company

Click through to find out how SMEs to enterprises can use Red Flag Alert for kyb compliance.

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  • Created with Lunacy
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1. Identify a company's ultimate beneficial owner
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2. Check an ultimate beneficial owner's other business interest
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3. See a director's history
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4. Check if an ultimate beneficial owner has been sanctioned

What is an ultimate beneficial owner and do I need to know it?

An ultimate beneficial owner, essentially, is anyone who owns or has voting rights of over 25% of a business. This can be hidden effectively by creating a web of companies, often splitting ownership of assets between them. Often those that wish to hide their ownership of an asset are engaged in criminal activity or undesirable to do business with. 

Any company that falls under UK anti-money laundering regulations is legally required to know and record the UBO as part of their AML requirements. Those who are found not to be compliant risk harsh punishments, including imprisonment. 

Even if a company is not bound by AML regulations, knowing who they are doing business with is an important part of any due diligence or risk management process and lets them make better decisions and avoid bad debts. 

 

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How Our UBO Feature Works

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  • Created with Lunacy
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1. Search

Find the company using their name or company number. Click on the relevant company to bring up a report. 

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2. Identify ultimate beneficial ownership

The report tells you who has ultimate beneficial ownership over the company. You can find more information on other businesses and directors in the company’s family tree by navigating to the company structure tab. 

 

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3. Check risk

Use Red Flag Alert to perform customer due diligence and anti-money laundering checks on the UBO. You can also conduct advanced due diligence if you suspect they are a politically exposed person or on an international sanctions list.

 

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4. Take action

Decide whether to accept, reject or report the business based on the risk profile of ultimate beneficial owners.

 

Quickly & easily visualise UBO structure
  • View any individuals within the corporate structure with any % of the total shares or voting rights.
  • Identify PSC (persons of significant control)

 

  • Identify intricate ownership structures across groups,  detect the true ownership of specific entities in order to accurately identify potential risks.
  • Dissect and untangle complex international business structures in minutes with global offering.

What are the Penalties for Non-Compliance?

Failure to comply with UK anti-money laundering regulations can result in a prison sentence of up to 14 years or a hefty financial penalty. 

In December, National Westminster Bank (NatWest) was fined nearly £265 million for anti-money laundering failures.

Understanding ultimate beneficial ownership is complex. Companies House does a good job of recording and displaying corporate ownership. But corporate structures are set up to enable fraud and financial crime by masking the true beneficiaries behind a business.

 

Read our guide to find out everything you need to know

Ultimate Beneficial Owner data you can understand

Money launderers and bad actors frequently hide their connection with their business dealings. To do this they build up complicated ownership structures designed to obfuscate and confuse.

Knowing who you are really doing business with is vital and for the regulated sector it is now a requirement.

The trouble with this is that traditional UBO data is presented in a complex and confusing way which often requires specialist training and significant staff hours to understand.

Red Flag Alert has solved this problem with UBO data presented in a revolutionary easy to understand way, designed by business for business

  • Decipher complex ownership structures in seconds
  • Full UK and international coverage
  • Fully compliant
  • Full company reports
  • Speed up your compliance and risk processes

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