Beneficial Ownership

Beneficial ownership refers to the rights or interests of a person who has control over or benefits from an asset, even if it is not directly under their name. Ensuring transparency in beneficial ownership is a key aspect of AML regulations, as it prevents individuals from hiding behind corporate structures to facilitate money laundering, fraud, or other illicit activities.

Understanding beneficial ownership helps organizations comply with regulatory requirements, enhance risk assessments, and strengthen their customer due diligence processes.