UBO – Ultimate Beneficial Owner

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UBO – Ultimate Beneficial Owner services

Ultimate Beneficial Ownership (UBO) is an ultimate beneficial owner, or the ultimate interested party refers to the natural person who ultimately owns or controls a customer and / or the natural person on whose behalf a transaction is conducted, according to the Financial Action Task Force (FATF) – a regulatory body to combat money laundering and terrorist financing.

This includes those who exercise ultimate legal control over a person or an arrangement. While this is a useful definition, there is no set global standard for the application of such guidelines in different regions. In addition, the UBO can often be a moving target. Regulations are rarely static and national and supranational legislation is constantly evolving, thus, making it difficult to identify the UBO.