Webinar Replay

Webinar Replay: Navigating the UBO Maze - Simplifying verification for financial crime professionals

Financial Crime
July 27, 2023

In recent years, there have been a flurry of changes to Anti-Money Laundering (AML) regulatory requirements related to customer identification and company ownership verification.

Regulated entities are now obligated to uncover and verify the real owners of companies at the point of onboarding, who often sit behind a web of complex ownership structures, offshore entities and trust arrangements.

Despite initial promising signs, universal access to public beneficial ownership declarations seems a long way off, leaving analysts to manually unpick ownership structures to verify ultimate owners.

However, doing so is a complex and time-consuming process, which Kyckr's research has shown can often take regulated entities 5-10 hours of desk work per case. This can lead to inefficiency, increased cost and crucially, customer friction.

How can you solve this challenge and remain compliant?

Watch the on-demand version of our webinar where our expert industry leaders navigated the UBO maze and discussed:

  • Overcoming the regulatory hurdle: what is required in AML regulations and how should regulated entities respond?
  • What are the challenges associated with gaining access to accurate UBO data? Including the limitations of public sources and the impact on compliance efforts.
  • The pitfalls and inefficiencies of manual UBO verification processes, such as the time-consuming nature, potential human error, and the need for extensive document analysis
  • How are best-in-class organisations getting ahead of the curve using technology?

Duration: 60 minutes


Jessica Cath, Head of Financial Crime, Thistle Initiatives

Jessica is the Head of Financial Crime at Thistle Initiatives, a regulatory compliance and financial crime consultancy. Jess works with a range of firms within the regulatory sphere (from banks and payments to crypto, high value dealers to insurance and investments) to meet financial crime requirements and mitigate the risk faced by their business.

Tymon Kiepe, Head of Policy and Research, Open Ownership

Tymon leads the research agenda to help the team collectively develop, test, and refine the organisation's policy recommendations and tools, while also supporting governments in implementing ownership transparency.

Steve Lamb, COO, Kyckr

Leading the product, marketing and sales functions, Steve holds overall responsibility for Kyckr's commercial development and both the delivery and enhancement of its award-winning global services. Working closely with both customers and partners to ensure the successful integration of Kyckr into their enterprise processes, he is considered a subject matter expert in the field of corporate registry data and is a regular contributor to industry panels, events and online publications.

Christine Drabble, Chief of Risk Underwriting and MLRO, Straal

Moderator: Michael Harris, Financial Crime Consultant, FCC Consulting

Michael is an independent financial crime risk consultant at FCC Consulting. As a subject matter expert, he draws on his knowledge and experience of KYC/AML and ABC processes in both financial and professional services regulated sectors, he helps firms understand and manage financial crime risk and their regulatory obligations.

Watch the on-demand version
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